SRINAGAR: Jammu and Kashmir Bank’s Chief Financial Officer (CFO), Pratik D Punjabi, resigned from his position on Friday.
The resignation, as per an order issued by the bank, is aimed at exploring opportunities outside the bank and is disclosed in accordance with SEBI regulations. Fayaz Ahmad Ganai will serve as the interim CFO until a permanent replacement is appointed.
“Although Punjabi was advised by the competent authority to time his relieving post finalization of the financial results and completion of the annual audit for FY 2023-24, the bank noted a lack of formal commitment from him to this effect. Consequently, the disclosure of his resignation is being made as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015,” reads an order.
The appointment of a new CFO is anticipated to conclude within the next fortnight. In the interim, Fayaz Ahmad Ganai has been designated as the “officer in-charge” to assume the role from Pratik D Punjabi, commencing April 5, 2024.
“Details of this change have been provided as required under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/4/2015 dated September 9, 2015 in Annexure I. This disclosure is made for appropriate dissemination and information,” it reads.
