Demonstrating one of the starkest examples of ‘getting to the point’, the managing director of Ludlow Jute & Specialities Ltd tendered his resignation from the company through a two-line, handwritten letter.
Tonmoy Bera submitted his resignation on June 12 with immediate effect, the company said in an exchange filing on June 13.
Addressing the letter to the firm’s chairman, Bera wrote: “With due respect and regard I am tendering my resignation from my service due to my personal reason. I am grateful to work in this organization.”
Ludlow Jute & Specialities Ltd uploaded his letter as an annexure to its filing:
The century-old firm is engaged in the business of jute and jute products. The Ludlow campus is situated on the banks of the river Hooghly at Chengail, near Kolkata. Ludlow Jute Mills was founded in 1921 by Ludlow Corp. In 1977, it was acquired by the Kanoria family.
Its Chairman, R V Kanoria, was the chairman of the Indian Jute Mill Association from 1982 to 1984.
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For the quarter ended March 2023, the company reported revenues of Rs 134.62 crore and a net loss of Rs 50 lakh, as per information on BSE.
Promoters hold 67.20 percent stake in the firm, with the rest 32.80 percent with the public.
Shares of Ludlow Jute & Specialities Ltd were trading 0.61 percent up at Rs 82.89 in late afternoon trade on June 13.
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