Mahindra Logistics witnessed a marginal uptick of less than one percent in its share value on August 31 following the announcement of the appointment of a new Chief Financial Officer (CFO) and the head of LMD (Last Mile Delivery) and strategy.
In an official regulatory filing, Mahindra Logistics communicated that its board of directors had granted approval for the designation of Saurabh Taneja as the Chief Financial Officer and a significant member of the company’s managerial personnel. Taneja’s official commencement in this role is slated for September 1. Furthermore, the company has appointed Ashay Shah as a Senior Management Personnel and the Head of LMD & Strategy, effective from October 1.
In an additional filing, the company addressed the imposition of two orders by the State tax department, imposing a cumulative penalty of Rs 2.7. These penalties pertain to alleged excessive input tax credit taken by the company in the fiscal years 2018 and 2019.
Operating as an integrated provider of logistics and mobility solutions, Mahindra Logistics extends supply chain services to a diverse range of industries, including Automotive, Consumer Goods, Pharmaceuticals, and E-commerce, among others.
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