Morton Foods CFO Shravan Kumar Jain Resigns, Citing Personal Reasons
Shravan Kumar Jain, CFO of Morton Foods Limited, a material unlisted subsidiary of Palash Securities Limited, will resign effective August 7, 2025. The resignation, citing personal reasons, was accepted by Morton Foods' Board of Directors. Palash Securities disclosed this information in compliance with SEBI regulations, stating no other material reasons for the departure beyond those mentioned in Jain's resignation letter.
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Palash Securities Limited (NSE: PALASHSECU, BSE: 540648) has announced that its material unlisted subsidiary, Morton Foods Limited, will see the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Shravan Kumar Jain. The resignation will take effect from the close of business hours on August 7, 2025.
Resignation Details
The Board of Directors of Morton Foods Limited convened a meeting on August 7, 2025, where they accepted Mr. Jain's resignation. According to the official disclosure made by Palash Securities Limited under SEBI regulations, Mr. Jain cited personal reasons for his departure in his resignation letter dated May 20, 2025.
Company Statement
In compliance with Regulation 30(9) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Palash Securities Limited issued a statement to the National Stock Exchange of India Ltd. and BSE Ltd. The company emphasized that there were no other material reasons for Mr. Jain's resignation beyond the personal reasons stated in his letter.
Regulatory Compliance
The disclosure was made in accordance with SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Palash Securities Limited, as the holding company, is required to report significant changes in its material subsidiaries to ensure transparency and compliance with regulatory standards.
Impact and Future Steps
While the company has not provided information on a successor, the resignation of a key financial executive like the CFO can be significant for any organization. Stakeholders will likely be watching closely to see how Morton Foods Limited and its parent company, Palash Securities Limited, manage this transition in their financial leadership.
The markets will be observing any potential impact on Morton Foods Limited's operations and financial strategies following this change in key personnel. As of now, no further details have been provided regarding the company's plans to fill the CFO position.
Historical Stock Returns for Palash Securities
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.05% | -3.97% | +0.16% | -1.92% | -30.88% | +318.51% |
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