Mahesh Developers Limited has submitted an intimation to BSE Limited regarding the appointment of Mr. Ratilal Ambabhai Sapariya as Chief Financial Officer (CFO) of the company.
The Board of Directors of the Company at their meeting held on 14th November 2019 had considered and approved this appointment in accordance with the provisions of Section 203 of the Companies Act, 2013, read with Rule 8 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, and other applicable rules, regulations, and guidelines. The appointment was effective from 14th November 2019.
The company disclosed that due to an inadvertent oversight, the detailed disclosure pertaining to this appointment was not submitted earlier. The company is now furnishing the requisite details for record and compliance purposes. The company regrets this inadvertent lapse and any inconvenience caused, assuring stakeholders that necessary measures have been implemented to strengthen internal compliance and disclosure processes to prevent recurrence of such omissions.
Appointment Details
- Name of Person: Mr. Ratilal Ambabhai Sapariya
- Designation: Chief Financial Officer (CFO)
- Reason for Change: Appointment as CFO
- Date of Appointment: 14th November 2019
- Brief Profile: Mr. Sapariya is described as a seasoned leader with experience and proficiency in the analysis of financial statements and books of accounts. He has built expertise in finance and enterprise technology architecture, and is committed to mentoring his team while focusing on enhancing their technical knowledge and professional experience.
- Relationship Disclosure: Mr. Ratilal Ambabhai Sapariya is related to the Managing Director of the Company, being his father.