Mumbai, Nov. 20 -- Sanjeev Agrawal, CEO, Altico Capital, has tendered his resignation from the company citing personal reasons.

"The Altico Board has accepted Agrawal's resignation and is appreciative of the progress made under his leadership, on addressing the issues faced by the firm post the default in September 2019. The firm remains committed on working towards a resolution at the earliest," the company said in a statement.

In September 2019, Agrawal, who was previously the COO of the firm, was requested by the Altico Board to continue at the firm to infuse stability and was subsequently appointed as the CEO of the firm with the full backing of the board in October 2019. Recently he was asked to consider extending his contract with...