1. Arvind Rao resigns as OnMobile chief

    Arvind Rao resigns as OnMobile chief

    Arvind has contributed greatly to OnMobile’s growth. As a company we are committed to upholding the highest corporate governance standards and we seek the continued support of all the stakeholders to help OnMobile realize its true potential.”

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    1. Based on a recently-concluded special review completed by our legal advisors, Amarchand Mangaldas and Suresh A. Shroff, advocates duly supported by KPMG, the board of directors today took on record the report submitted and noted that the review had identified weaknesses in some processes.
    2. The company has initiated steps to rectify all the weaknesses. While the review has identified some weaknesses, strong alternate controls have ensured that the company did not suffer any loss. Recognizing that these weaknesses took place during his tenure, Arvind Rao has submitted his resignation.