Equipment finance NBFC Srei Infrastructure Finance Ltd on Saturday said its company secretary Sandeep Kumar Lakhotia has resigned.

The move comes following the salary cap imposed on the company by its lenders amidst the pandemic-induced stress on its business.

The company, when contacted, said around 180 employees have exited since December last year.

“We wish to inform you that Sandeep Kumar Lakhotia has resigned from the position of company secretary & compliance officer of the company,” Srei Infrastructure Finance Ltd said in a regulatory filing.

Lakhotia will be relieved with effect from the close of working hours of March 20, 2021, Srei said.

“The company shall be shortly appointing a new company secretary and compliance officer and the same shall be intimated to the stock exchanges in due course,” it said.

In the interim, Ekta Agarwal, deputy company secretary of the company, shall be in charge of the compliance function, it added.

The company is battling asset-liability mismatch in the aftermath of the pandemic-driven stress in the economy as it mainly caters to equipment financing and most of the economic activities came to a grinding halt due to the lockdown, only limping back gradually now.