Shalimar Paints’ Chief Financial officer (CFO) Sandeep Gupta has resigned w.e.f 27 December 2019. The announcement was made in the company’s exchange filing. At the same time, the company has announced the appointment of its new CFO Ashish Kumar Bagri.
The Indian paint manufacturer, Shalimar Paints is engaged in the manufacturing and marketing of decorative paints and industrial coatings.
In a BSE filing, the company said, “We would like to inform you that the Board of Directors of the Company at their meeting held today i.e. December 27, 2019, which started at 11:00 a.m. and approved the following agenda items:
a) Appointment of Mr. Ashok Kumar Gupta, Director of the Company (DIN 01722395) as Managing Director (KMP) of the Company in the category of Executive, Non – Independent Director for a period of 3 (three) years w.e.f. 27 December 2019, subject to the approval of the shareholders of the Company.
b) Appointment of Mr. Sanjay Kumar Gupta (DIN – 07579756) as an Additional Director of the Company in the category of Non – Executive, Independent Director for a term of 5 (five) consecutive years w.e.f. 27 December, 2019. Mr. Sanjay Kumar Gupta is not debarred from holding the office of Director by virtue of any order of the Securities and Exchange Board of India or any other such authority.
c) Resignation of Mr. Sandeep Gupta from the position of Chief Financial Officer (KMP) of the Company w.e.f. 27 December, 2019.
d) Appointment of Mr. Ashish Kumar Bagri as Chief Financial Officer (KMP) of the Company w.e.f. 27 December, 2019.”
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