The Hi-Tech Gears Limited has informed the Exchange about change in Management
HITECHGEAR · price
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Mr. Ajay Mrig has resigned from the position of Vice President – Purchase and Supply Chain Excellence (a Senior Management Personnel role) effective June 27, 2025, citing personal commitments. He had originally submitted his resignation on May 28, 2025, and the company attempted to retain him through negotiations. The company also disclosed that there was an inadvertent delay in notifying the stock exchanges about this resignation, as the HR department was unaware of the SEBI disclosure requirement and only informed the Compliance Officer on July 16, 2025. The company has apologized for the delay and stated it is taking steps to prevent recurrence.
This is a mid-level senior management exit in the purchase and supply chain function and is unlikely to materially affect operations. However, the delayed disclosure of a KMP resignation raises minor governance red flags; investors should watch for the company's replacement plan and whether the stock exchanges take any action on the late filing.