Minaxi Textiles has informed that Nirmal B. Patel is removed as a Chief Financial Officer of the company with effective from 14/09/2020 vide resolution passed in the Board meeting held on 14/09/2020. Since July, 2019 Chief Financial Officer (CFO) has been to Canada for his personal reasons and had not attended the office till date and have not attended any financial work or performed any duties as entrusted on him as a CFO. The Management has directed CFO to tender his resignation on or before 04.09.2020 vide its letter dated 29/08/2020, as the management has expressed loss of confidence in him and has asked him to re-sign from the post of CFO on or before 04.09.2020 as CFO is a whole time post and absence of CFO for such a long time have created an adverse impact on the day to day financial working and other allied works of the company. As he is has not tendered his resignation the Board of Director has removed him from the post of CFO with effective from 14.09.2020 by way of resolution passed in today’s meeting. This intimation is in due compliance of Regulation 30 of the SEBI (LODR) Regulations, 2015.
The above information is a part of company’s filings submitted to BSE.
