Sical appoints new MD; Independent Directors resign

Chennai: Four Independent Directors at Sical Logistics ,part of Coffee Day VG Siddharth Group ,have resigned in the past 10 days,all citing personal reasons.

The company has also appointed T Subramanian as its new MD last week, and R Ram Mohan, the non-executive chairman also stepped down from his position.

While H Rathnakar Hegde, independent director, resigned effective January 27, to spend more time with family, others including Srinivasan H R, S Ravinarayanan, and Sudhir Vidya Kamath subsequently resigned citing personal reasons and preoccupation, as per regulatory filings.

Reporting its quarterly financials on Monday, Sical Logistics posted revenue of Rs 123 crore for the quarter ended December 2020 and a loss of around Rs 15 crore.