The Board of Directors of Siti Networks Ltd at its meeting held today (i.e. June 14, 2019) has considered and approved the appointment of Mr. Suresh Kumar Arora having DIN 00299232 (who was Non-Executive Non-Independent Director till current appointment) as a Whole Time Director of the Company with immediate effect i.e. June 14, 2019.
The said appointments have been done on the basis of recommendations of Nomination and Remuneration Committee, confirming that Mr. Suresh Kumar Arora is not debarred from holding the office of Director pursuant to any SEBI order or any other authority.
Mr. Suresh Arora, aged about 55 years, is a commerce graduate from Delhi University and also holds Post Graduate Diploma in Marketing from Symbiosis, Pune.
Mr. Arora has rich experience of about 34 years in various fields and in particular Finance & Accounts, Export/Import procedures & documentation and sales & marketing. His last assignment was with Pan India Network Limited ("PINL") at a senior position in Sales and Marketing Department. PINL is an Essel Group Company and is engaged in the business operations of Online/Paper Lottery in the state of Punjab. PINL was one of the Marketing Agent/Distributor of the Government of Punjab for its paper lottery. PINL is also marketing online lottery of other lottery organizing States in Punjab. Mr. Arora has successfully created a strong network of channel partners - about 50 Plus Distributors and 3000 plus Retail Outlets. PINL was present in almost each and every city of State of Punjab. During his tenure with PINL, he got the opportunity to interact and coordinate with the senior officials of Punjab Government.
Shares of Siti Networks Ltd was last trading in BSE at Rs.2.82 as compared to the previous close of Rs. 2.79. The total number of shares traded during the day was 18876 in over 85 trades.
The stock hit an intraday high of Rs. 2.85 and intraday low of 2.66. The net turnover during the day was Rs. 51893.