Aditya Birla Capital's MD, Ajay Srinivasan, has resigned.

Ajay Srinivasan, the MD and CEO of Aditya Birla Capital Ltd, announced on Monday that he had decided to step down as CEO of the organization . Vishakha Mulye has been appointed as the next CEO of Aditya Birla Capital by the board of directors .

Ajay Srinivasan, the MD and CEO of Aditya Birla Capital Ltd (ABCL), announced on Monday that he had decided to step down as MD and CEO of the organization after expressing his desire to take on a new position within the organization.The company was contacted by a lawsuit involving allegations concerning Aditya Birla Sun Life AMC and its staff.According to an exchange filing, an independent Committee was formed to investigate the allegations under the Aditya Birla group's approach.According to a news release, a whistleblower accused ABCL and Aditya Birla Sun Life AMC of significant fraud and mismanagement, including front running and insider trading, has been alleged by the committee.

According to him, a plan is being devised at the individual level in consultation with him.This morning, a story about vested interests was published.According to the report, these insinuations allegations are bereft of facts.Vishakha Mulye has been appointed as the next CEO of Aditya Birla Capital by the board of directors.

The magnitude of the problem is evident in the overall AUM of asset management, life insurance, and health insurance businesses, which increased by 16% year on year to over Rs 372,423 crore, according to the BSE on Monday.Aditya Birla Capital dropped by five percent to Rs 95.05, and Aditya Birla Sun Life AMC Ltd fell by 7.44 percent to Rs 452.30, as a result of these outrageous allegations.Girish Patil left the company in order to pursue better opportunities outside the company.Vineet Maloo worked internal within the Aditya Birla Company, according to the group's philosophy of career development.

Further, it is also incorrect that Girish Patil is related to Mahesh Patil, as it is referred to in the book.According to the company, Girish Patil and Mahesh Patil are not connected in any way.Aditya Birla Sun Life AMC has a 27-year history and a solid reputation for adhering to the highest standards and procedures.We have a robust mechanism in place at the Aditya Birla Group to deal with complaints and complaints, Axis Asset Management Company, the Axis Bank-owned mutual fund, recently suspended two of its fund managers for suspected fraud, including front running.