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

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 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 workforce, hampering IT supply.

The chief expertise officer claimed he tried his greatest to collaborate, however “it wasn’t the intention of the opposite aspect”.

“I hereby resign from the submit of Chief Know-how Officer resulting from harassment and pointless interventions of the CHRO, which is impacting me in managing the IT operate successfully and effectively. That is creating main unrest within the workforce, thereby impacting IT supply. I’ve tried my greatest to collaborate, nevertheless it appears it’s not the intention of the opposite aspect,” 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 provides a diversified product suite for particular person clients and enterprises.

The corporate just lately mentioned it needs 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 embody loans for gold retail, used vehicles, shopkeepers and schooling. The corporate will add 400 branches to its portfolio of round 100, by subsequent yr.