Poonawalla Fincorp CTO quits, blames HR official: ‘Harassment, pointless interventions’

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Dec 08, 2024 12:59 PM IST

Dhiraj Saxena wrote within the resignation letter that he couldn’t handle the IT operate effectively due to the HR officer’s motion.

Dhiraj Saxena, the chief expertise officer (CTO) at Poonawalla Fincorp Restricted, give up the corporate on December 3, citing “harassment and unnecessary interventions” by the chief human useful resource officer of the agency.

Poonawalla Fincorp has launched an official assertion.

Saxena made the allegations in his resignation letter despatched to the corporate’s management in September. His allegations emerged within the public area on December 6 by means of a regulatory submitting.

Dhiraj Saxena wrote that he couldn’t handle the IT operate effectively due to the HR officer’s interventions. He mentioned the harassment created main unrest inside the staff, hampering IT supply.

The chief expertise officer claimed he tried his finest to collaborate, however “it wasn’t the intention of the other side”.

“I hereby resign from the post of Chief Technology Officer due to harassment and unnecessary interventions of the CHRO, which is impacting me in managing the IT function effectively and efficiently. This is creating major unrest in the team, thereby impacting IT delivery. I have tried my best to collaborate, but it seems it is not the intention of the other side,” CNBC-TV18 quoted the officer within the letter as saying.

Poonawalla Fincorp has not issued a proper assertion on the previous CTO’s resignation.

The resignation got here months after Poonawalla Fincorp underwent administration modifications in June, with HDFC Financial institution’s Arvind Kapil becoming a member of the agency because the managing director and CEO.

What’s Poonawalla Fincorp?

Poonawalla Fincorp Restricted is a Cyrus Poonawalla group Non-Banking Finance Firm (NBFC) that focuses on shopper and MSME financing. The corporate affords a diversified product suite for particular person clients and enterprises.

The corporate not too long ago mentioned it desires to double its worker headcount within the subsequent 5 years. It additionally plans so as to add six-retail-focused lending companies by the following six quarters.

The brand new companies embrace loans for gold retail, used automobiles, shopkeepers and training. The corporate will add 400 branches to its portfolio of round 100, by subsequent yr.

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