New Delhi: Ricoh India on Monday said its managing director and CEO Manoj Kumar has resigned from the board after being asked to go on leave amid an ongoing audit in the company by a committee that includes an independent law firm and accountants.
"Manoj Kumar has resigned from the board of directors of the company with effect from April 2, 2016. He had been asked to go on leave on the March 29, 2016, by the decision of the board of directors," the company said in a filing to the BSE.
On April 1, the company had asked Mr Kumar, Arvind Singhal, the CFO, and Anil Saini, senior vice president and COO, to take leave as the audit proceedings would go on.
The company had assigned A T Rajan in charge, and discharged the functions of CEO and COO.
In a disclosure on February 18, the company stated that new auditors of the company are conducting limited review.
"The company has not yet received the signed limited review report from the auditors and the audit committee would take up again the matter with the statutory auditors to submit their limited review report on an immediate basis."
"In order to assist the audit committee, the audit committee has sought the opinion of an independent agency in this regard," the company had said.
The company had said pending completion of such review and in order to ensure independence of the review, some of the employees have been requested to avail leave with pay with effect on and from March 30, 2016.
In another filing on April 1, the company said the independent agency, which comprise of an independent law firm and accountants, has been appointed to assist the audit committee to better understand certain areas where the auditors had emphasised further review is presently conducting a review and the same is likely to be completed soon.
New Delhi: Ricoh India on Monday said its managing director and CEO Manoj Kumar has resigned from the board after being asked to go on leave amid an ongoing audit in the company by a committee that includes an independent law firm and accountants.
"Manoj Kumar has resigned from the board of directors of the company with effect from April 2, 2016. He had been asked to go on leave on the March 29, 2016, by the decision of the board of directors," the company said in a filing to the BSE.
On April 1, the company had asked Mr Kumar, Arvind Singhal, the CFO, and Anil Saini, senior vice president and COO, to take leave as the audit proceedings would go on.
The company had assigned A T Rajan in charge, and discharged the functions of CEO and COO.
In a disclosure on February 18, the company stated that new auditors of the company are conducting limited review.
"The company has not yet received the signed limited review report from the auditors and the audit committee would take up again the matter with the statutory auditors to submit their limited review report on an immediate basis."
"In order to assist the audit committee, the audit committee has sought the opinion of an independent agency in this regard," the company had said.
The company had said pending completion of such review and in order to ensure independence of the review, some of the employees have been requested to avail leave with pay with effect on and from March 30, 2016.
In another filing on April 1, the company said the independent agency, which comprise of an independent law firm and accountants, has been appointed to assist the audit committee to better understand certain areas where the auditors had emphasised further review is presently conducting a review and the same is likely to be completed soon.
New Delhi: Ricoh India on Monday said its managing director and CEO Manoj Kumar has resigned from the board after being asked to go on leave amid an ongoing audit in the company by a committee that includes an independent law firm and accountants.
"Manoj Kumar has resigned from the board of directors of the company with effect from April 2, 2016. He had been asked to go on leave on the March 29, 2016, by the decision of the board of directors," the company said in a filing to the BSE.
On April 1, the company had asked Mr Kumar, Arvind Singhal, the CFO, and Anil Saini, senior vice president and COO, to take leave as the audit proceedings would go on.
The company had assigned A T Rajan in charge, and discharged the functions of CEO and COO.
In a disclosure on February 18, the company stated that new auditors of the company are conducting limited review.
"The company has not yet received the signed limited review report from the auditors and the audit committee would take up again the matter with the statutory auditors to submit their limited review report on an immediate basis."
"In order to assist the audit committee, the audit committee has sought the opinion of an independent agency in this regard," the company had said.
The company had said pending completion of such review and in order to ensure independence of the review, some of the employees have been requested to avail leave with pay with effect on and from March 30, 2016.
In another filing on April 1, the company said the independent agency, which comprise of an independent law firm and accountants, has been appointed to assist the audit committee to better understand certain areas where the auditors had emphasised further review is presently conducting a review and the same is likely to be completed soon.
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