Jaypee Infratech CFO resigns

The Chief Financial Officer (CFO) of Jaypee Infratech, a debt-ridden company, has resigned on health grounds.

The Chief Financial Officer (CFO) of Jaypee Infratech, a debt-ridden company, has resigned on health grounds.
 
In a filing to the BSE, Jaypee Infratech said, Ram Bahadur Singh "who was director and chief financial officer of the company has resigned due to deteriorating health since last six months, form the directorship as well as from the post of chief financial officer from the close of working hours on January 15, 2018".
 
Jaypee Infratech is among 12 companies taken over by a NCLT-appointed Insolvency Resolution Professional (IRP) for recovery of bad loans.
 
The Reserve Bank of India (RBI) moved the Supreme Court, last month, seeking permission to initiate insolvency proceedings against Jaiprakash Associates Ltd, the parent company of Jaypee Infratech.
 
Source: Media reports

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