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  India   All India  19 Feb 2018  2 top Gitanjali Gems’ officials quit, says ‘conscience doesn't permit to continue’

2 top Gitanjali Gems’ officials quit, says ‘conscience doesn't permit to continue’

THE ASIAN AGE
Published : Feb 19, 2018, 6:21 pm IST
Updated : Feb 19, 2018, 6:25 pm IST

The two senior employees of Gitanjali Gems announced their resignations in a stock market filing.

Compliance officer and company secretary Pankhuri Warange cited the ongoing investigation of a Rs 11,400 crore scam as trigger to her ‘conscious’ stand to resign. (Photo: File)
 Compliance officer and company secretary Pankhuri Warange cited the ongoing investigation of a Rs 11,400 crore scam as trigger to her ‘conscious’ stand to resign. (Photo: File)

Mumbai: Two top officials of Gitanjali Gems, the company owned by Mehul Choksi --- another name that has surfaced in the Punjab National Bank (PNB) fraud case – resigned from office with immediate effect.

According to a report in NDTV, the two senior employees of Gitanjali Gems, compliance officer Pankhuri Warange and Chief Financial Officer (CFO) Chandrakant Karkare, announced their resignations in a stock market filing.

Warange, who also operated as the company secretary, cited the ongoing investigation of a Rs 11,400 crore scam as trigger to her ‘conscious’ stand to resign.

Also read: CBI registers fresh FIR against Mehul Choksi in PNB fraud case​

“Being a key managerial personnel and the designated compliance officer, I have certain statutory duties and responsibilities towards the stakeholders. The recent event unfolded in the organisation requires the company to make disclosures under the Companies Act 2013 and the SEBI requirements 2015. I have advised the management on the required disclosures to be made. The absence of disclosures will have ramifications not just on the company but also on the key managerial personnel,” the report quoted her resignation.

Warange’s resignation also states how her conscience prevents her from being a part of Gitanjali Gems any further. “There is no consensus in my opinion on the disclosures to be made and that of the management and in these circumstances, my conscience doesn't permit me to continue with my position. I have, therefore, taken a conscious decision of resigning and relinquishing my position as the company secretary and compliance officer with immediate effect,” her resignation read.

Also read: PNB scam: 200 shell firms probed, ED raids 45 sites​

However, Karkare’s resignation cited personal reasons for his decision. Karkare said his wife is not recuperating according to expectations after a major surgery of Hemicolectomy at Lilavati Hospital and he therefore cannot continue as the company’s CFO.

Tags: gitanjali gems, nirav modi, pnb scam, pankhuri warange, chandrakant karkare
Location: India, Maharashtra, Mumbai (Bombay)