Poonawalla Fincorp CTO quits, blames HR official: 'Harassment, unnecessary interventions'

Dhiraj Saxena wrote in the resignation letter that he could not manage the IT function efficiently because of the HR officer's action.

Dhiraj Saxena, the chief technology officer (CTO) at Poonawalla Fincorp Limited, quit the company on December 3, citing "harassment and unnecessary interventions" by the chief human resource officer of the firm.

Poonawalla Fincorp has released an official statement.

Saxena made the allegations in his resignation letter sent to the company's leadership in September. His allegations emerged in the public domain on December 6 through a regulatory filing.

Dhiraj Saxena wrote that he could not manage the IT function efficiently because of the HR officer's interventions. He said the harassment created major unrest within the team, hampering IT delivery.

The chief technology officer claimed he tried his best to collaborate, but "it wasn't the intention of the other side".

"I hereby resign from the post of Chief Technology Officer due to harassment and unnecessary interventions of the CHRO, which is impacting me in managing the IT function effectively and efficiently. This is creating major unrest in the team, thereby impacting IT delivery. I have tried my best to collaborate, but it seems it is not the intention of the other side," CNBC-TV18 quoted the officer in the letter as saying.

Poonawalla Fincorp has not issued a formal statement on the former CTO's resignation.

The resignation came months after Poonawalla Fincorp underwent management changes in June, with HDFC Bank's Arvind Kapil joining the firm as the managing director and CEO.

What is Poonawalla Fincorp?

Poonawalla Fincorp Limited is a Cyrus Poonawalla group Non-Banking Finance Company (NBFC) that focuses on consumer and MSME financing. The company offers a diversified product suite for individual customers and enterprises.

The company recently said it wants to double its employee headcount in the next five years. It also plans to add six-retail-focused lending businesses by the next six quarters.

The new businesses include loans for gold retail, used cars, shopkeepers and education. The company will add 400 branches to its portfolio of around 100, by next year.