Ricoh India chairman Tetsuya Takano resigns
- Network18 reports Q3 net profit of Rs12.7 crore
- Workers at Apple supplier Catcher Technology describe harsh conditions in China’s Suqian
- This year’s corporate space race: Getting ready for astronauts, then tourists
- Super-premium liquor to become cheaper in Karnataka
- Amaravati: core infra to be ready by year-end
New Delhi: The fraud at Ricoh India has claimed another high-profile casualty, with the company informing BSE that its chairman Tetsuya Takano had resigned Monday.
Last week, Ricoh India said in a statement that its Japanese parent Ricoh Co. Ltd would infuse Rs.1,123 crore into the Indian subsidiary—a much-needed recapitalisation in the wake of the fraud—essentially a falsifying of numbers including revenue.
“Mr. Tetsuya Takano has resigned as Director/Chairman of the Company with effect from July 25, 2016. The Board of Directors of the Company has accepted his resignation with immediate effect,” the company said in its statement and added that Ian Peter Winham would be chairman of the company with effect from 25 July 2016.
In April, soon after the fraud came to light, Ricoh India’s chief executive and managing director, Manoj Kumar resigned after he was asked to go on leave along with chief financial officer (CFO) Arvind Singhal and senior vice president and chief operating officer (COO) Anil Saini, by the board of directors.