Struggling to retain its staff, Srei Infrastructure Finance has suffered yet another blow as its CEO Rakesh Kumar Bhutoria resigned even as the company is going through the debt resolution process with the lenders, sources said on Tuesday.
The pandemic induced lockdown severely dented the finances of the Kolkata-based NBFC, leading to an asset-liability mismatch.
Subsequently, the lenders of the company took control of its finances to recover their dues, triggering mass level exits at Srei Group, as salary delays became a routine, and remunerations of the top-level executives were capped at Rs 50 lakh per annum. The salary cap was removed in April this year.
