Defiance is a Hinduja Group Company incorporated in 2009, with a focus to provide Engineering, Manufacturing and Enterprise (EME) Services and Solutions for Automotive, Aerospace, Defence, Industrial and General Manufacturing industries. The company is serving top global companies with over 50 active global clients including 18 of the Fortune Global 500 companies, according to company's website. According to sources the company clocked a revenue of around Rs 170 crore last year.
Subbu D Subramanian, who quit as the MD & CEO of the company confirmed that he had resigned, but declined to give any reasons. In response to a SMS, he said, “Yes it is true (resigning from the company), I am assessing a few options and would decide on my next plans in the next few weeks”.
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The other officials who also resigned from the company includes S Venkatraman, CFO and Company Secretary, A R Dastur, Vice President, Human Resources and Mahendran PA, Head - Quality & ROW Business Integrator. When contacted B Asit, who used to the media coordinator for the company said, he also resigned from the company.
When Business Standard called Defiance's registered office in Chennai, a security official, confirmed Mahendran and Dastur resigned and added he don't know anybody in the name of Venkatraman.
Headquartered at Chennai, Defiance has development centers at Chennai, Bangalore and Pune, Walldorf (Germany). On Tuesday the company sold its subsidiary Defiance Technologies Limited operating in the USA for an disclosed amount. It may be noted, Ashok Leyland earlier announced it was planning to raise money by diluting its non-core assets. The fund raising was to support company's plan to bring down the debt level, which is currently around Rs 6,000 crore now.