Williamson Magor CFO Madan Lal Agarwal Resigns

Williamson Magor & Company Ltd. said its Chief Financial Officer Madan Lal Agarwal resigned, citing personal reasons.

The company accepted Agarwal’s resignation and relieved him from the services with effect from 15 March, Williamson Magor said in a stock exchange announcement.

Williamson Magor didn’t provide any details about Agarwal’s replacement.

Williamson Magor is considered to be one of the pioneers of tea business in India, according to its website. It has substantial investments in the group companies like McLeod Russel India Ltd. Eveready Industries India Ltd., Kilburn Engineering Ltd. and McNally Bharat Engineering Company Ltd.

McNally Bharat is undergoing a corporate insolvency resolution process, while the National Company Law Appellate Tribunal (NCLAT) recently granted an interim relief in the CIRP process of McLeod Russel. The NCLAT is scheduled to hear McLeod Russel’s insolvency matter on 27 March, according to Business Standard.

(Send feedback to editor@cornerofficejournal.com)