Suresh Reddy steps down as Brightcom CMD, Narayana Raju as CFO; stock tanks 5%
The resignations come following the Enforcement Directorate (ED) raids at the offices of Brightcom Group, as well as at the residences of Reddy and Raju in Hyderabad. The searches were conducted as part of the investigation conducted by the Securities and Exchange Board of India (Sebi) regarding the impairment of assets worth Rs 868 crore by the company through its international subsidiaries.
