Ortel CFO Satyanarayan Jena resigns

MUMBAI: Multi system operator (MSO) Ortel Communications chief financial officer (CFO) Satyanarayan Jena has resigned from the company. His last day at the company was today.

“We hereby inform you that Satyanarayan Jena, has resigned from the post of Chief Financial Officer of the company. The company has accepted his resignation and he will be relieved of his responsibilities effective from close of business hours on February 28, 2019,” said Ortel in its BSE filing.

Satyanarayan Jena was appointed as CFO in September 2017 as a replacement for Manoj Kumar Patra.

Ortel is undergoing Corporate Insolvency Resolution Process (CIRP) based on the application filed by Sony Pictures Networks India (SPNI). The National Company Law Tribunal, New Delhi Bench had passed an order dated 27th November for the commencement of the CIRP. Srigopal Choudhary has been appointed as Resolution Professional (RP) to carry on the functions as defined under the provisions of the code.

As per Section 17 & 18 of the Code, from the date of commencement of CIRP, the powers of Board of Directors of Ortel communications stand suspended and such powers, as well as management of the affairs of the company, is now vested in the Resolution Professional (RP).