The Hi-Tech Gears Limited at its board meeting held on August 14, 2023 announced that Mr. Sumeet Kumar had decided to resign from the post of group chief financial officer and key managerial personnel of the company and submitted his resignation vide letter dated August 8, 2023. In view of the above the board of directors has considered his resignation and decided to relieve him from the office of group chief financial officer and key managerial personnel of the company with effect from close of business hours of August 14, 2023. However, he shall continue to serve the company during remaining notice period as per the terms of his employment.

Consequent to the resignation of Mr. Sumeet Kumar from the office of group chief financial officer and key managerial personnel the candidature of Mr. Kapil Rajora has been considered for the position of chief financial officer and key managerial person basis upon the recommendation of nomination and remuneration committee and audit committee respectively. Accordingly, the Board has appointed Mr. Kapil Rajora as CFO & KMP of the Company with effect from August 15, 2023. Mr. Kapil Rajora holds degree in Bachelor of Engineering (Electrical Engineering) from Delhi College of Engineering (Delhi University) bracket close and completed his Post Graduation Program from Indian Institute of Management Bangalore in 2006.

He is having a vivid experience of about 18 years in the areas of strategic business planning, financial planning and working Capital Management, cross-border mergers and acquisitions and pre and post-acquisition integration. Previously, he has worked with Accenture Strategy from 2006 to 2017 and worked on end-to-end project delivery and business development across automotive clients in India. Since 2017, he has been associated with The High-Tech Gears Limited and currently designated as vice president (strategy and special projects) of the company.

He possesses a combination of strategic thinking and meticulous implementation rigor, along with sound and relevant experience necessary to guide organization in the competitive environment and spearhead the finance and accounts team. During his tenure in The High-Tech Gates Limited, he has been working as a part of senior leadership team and has been assigned for many business decisions. He has also worked closely with executive directors of the company.