Lalit Malik, the Chief Financial Officer (CFO) of Torrent Power Ltd, has resigned from his position with immediate effect due to health reasons, according to a regulatory filing. The Board of Directors accepted Malik’s resignation during their meeting on Thursday.
Saurabh Mashruwala, who is currently the Vice President – Finance and has been with the company since 2009, has been appointed as the new CFO and Whole Time Key Managerial Personnel of the company with effect from April 14, 2023.
Mashruwala brings with him over 33 years of experience in corporate finance, accounting, tax planning, and execution, among other areas. His expertise also includes corporate restructuring, mergers, takeovers, budgeting, risk management, and compliance.
The appointment of Mashruwala as the new CFO is expected to provide stability and continuity to the company’s financial operations, and his vast experience is expected to be an asset for Torrent Power.