Lalit Malik resigns as Torrent Power CFO; co appoints Saurabh Mashruwala

Torrent Power Ltd on Thursday announced its Chief Financial Officer (CFO) Lalit Malik has resigned with immediate effect.

The Board of Directors at its meeting on Thursday accepted the resignation tendered by Malik due to health reasons, Torrent Power said in a regulatory filing.

"Accepted the resignation tendered by Lalit Malik from the position of CFO and Whole Time Key Managerial Personnel of the Company w.e.f. close of working hours of April 13, 2023, due to health reasons," it said.

The board also approved the appointment of Saurabh Mashruwala as the next CFO and Whole Time Key Managerial Personnel of the company effective April 14, 2023.

Mashruwala has over 33 years of experience in the fields of corporate finance, treasury, accounting, corporate restructuring, mergers, takeovers, tax planning & execution, budgeting, corporate governance, risk management, regulations and compliances etc.

He is working with Torrent Power Limited since January 2009, and at present is Vice President Finance.