Poonawalla Fincorp CTO Dhiraj Saxena Resigns Amid Harassment By HR Head

Poonawalla Fincorp Ltd.'s Chief Technical Officer Dhiraj Saxena resigned due to the alleged harassment from the non-banking financial company's chief human resources officer.

Saxena resigned on Sept. 6 and vacated office on Dec. 3, the company informed exchanges late Friday.

The former CTO cited "harassment and unnecessary interventions" by the chief human resources officer, which impacted him in managing the IT function effectively and efficiently. This is creating major unrest in the team, impacting IT delivery, Saxena said in his letter of resignation.

"I have tried my best to collaborate, but it seems it is not as per the HR policy," he said in the letter.

Calls to Poonawalla Fincorp during the time of publishing this story were left unanswered.

This resignation has come as Poonawalla Fincorp has gone under some recent management changes, with Arvind Kapil from HDFC Bank joining as the managing director and chief executive officer in June 2024.

Following this move, some concerns arose within the company that Kapil was said to have been bringing in his own people, leading to some interruptions with the transition. It is important to note that in July 2024, Harsh Kumar joined as CHRO of the company.

In July 2021, Magma Fincorp was named Poonwalla Fincorp after the acquisition of a controlling stake by Adar Poonawalla-led Rising Sun Holdings.