Appointment of Mr. Avijit Maity a Managing Director as Chief Financial Officer(CFO) of the Company w.e.f., 13.05.2025.
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
NTC Industries Ltd has appointed Mr. Avijit Maity as the new Chief Financial Officer (CFO) and Key Managerial Personnel (KMP) of the company, effective 13th May 2025. Mr. Maity, who is already serving as a Managing Director, holds an MBA and brings 11 years of experience in the tobacco manufacturing industry. The appointment fills the vacancy left by the resignation of the previous CFO, Mr. Prem Chand Khator, who stepped down effective 15th February 2025. The decision was approved by the Board on the recommendation of the Nomination and Remuneration Committee, in compliance with Section 203 of the Companies Act, 2013 and SEBI LODR Regulations. Notably, Mr. Maity is the son of Mr. Mukul Maity, indicating a continued family presence in the company's leadership.
The company has filled a critical finance leadership role after a roughly three-month vacancy following the prior CFO's resignation. Combining the CFO role with an existing Managing Director is unusual and may raise governance questions for shareholders, though it ensures continuity. Investors should watch for any further disclosures on segregation of responsibilities.