Conscience doesn't permit to continue: 2 top officials of Gitanjali Gems quit

Mumbai: Two top officials of Gitanjali Gems, the company owned by Mehul Choksi --- another name that has surfaced in the Punjab National Bank (PNB) fraud case – resigned from office with immediate effect.

According to a report in NDTV, the two senior employees of Gitanjali Gems, compliance officer Pankhuri Warange and Chief Financial Officer (CFO) Chandrakant Karkare, announced their resignations in a stock market filing.

Warange, who also operated as the company secretary, cited the ongoing investigation of a Rs 11,400 crore scam as trigger to her ‘conscious’ stand to resign.

Read: PNB fraud case: CBI registers fresh FIR against Mehul Choksi, bank officials

“Being a key managerial personnel and the designated compliance officer, I have certain statutory duties and responsibilities towards the stakeholders. The recent event unfolded in the organisation requires the company to make disclosures under the Companies Act 2013 and the SEBI requirements 2015. I have advised the management on the required disclosures to be made. The absence of disclosures will have ramifications not just on the company but also on the key managerial personnel,” the report quoted her resignation.

Warange’s resignation also states how her conscience prevents her from being a part of Gitanjali Gems any further. “There is no consensus in my opinion on the disclosures to be made and that of the management and in these circumstances, my conscience doesn't permit me to continue with my position. I have, therefore, taken a conscious decision of resigning and relinquishing my position as the company secretary and compliance officer with immediate effect,” her resignation read.

Also Read: PNB fraud: Land to Mehul Choksi in Telangana under scanner

However, Karkare’s resignation cited personal reasons for his decision. Karkare said his wife is not recuperating according to expectations after a major surgery of Hemicolectomy at Lilavati Hospital and he therefore cannot continue as the company’s CFO.