Newtime Infrastructure Ltd has appointed Deepi Sharma as its Chief Financial Officer (CFO), signaling a strategic move to strengthen financial oversight amid evolving market dynamics. This key hire follows recent management transitions, positioning the company for enhanced fiscal discipline and growth in the infrastructure sector.
Newtime Infrastructure Ltd, a BSE-listed entity engaged in infrastructure development, announced the appointment of Deepi Sharma as CFO in a recent board decision. This comes after a series of leadership shifts, including resignations of key personnel like Raj Singh Poonia from his dual CFO and MD roles. Sharma's expertise is expected to drive robust financial strategies, ensuring timely compliances under SEBI LODR regulations.
Key Highlights
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Appointment Details: Deepi Sharma steps in as CFO, replacing prior leadership including Raj Singh Poonia who resigned from the CFO role on August 14, 2024, to focus on other board responsibilities.
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Company Context: Newtime Infrastructure Ltd, listed on BSE (539519), specializes in infrastructure projects with a history of active board changes to align with regulatory and operational needs.
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Strategic Impact: The appointment aims to improve compliance and financial reporting, addressing past delays in filings and KMP appointments as noted in directors' reports.
The company, headquartered in India, has navigated challenges such as delayed AGM and KMP appointments, as highlighted in its latest directors' report. With Sharma at the financial helm, stakeholders anticipate improved governance and potential value unlocking in core operations. This move underscores Newtime's commitment to professionalizing its management amid competitive infrastructure landscapes.
Sources: The Economic Times, Moneycontrol.com