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Mumbai, Dec. 21 Hexaware Technologies has appointed veteran financial expert Mr S.K. Mitra as an independent director and a new member on the company’s board.

In his previous role as Director of Financial Services in Aditya Birla group, he had served on the board of the group’s financial service business, before stepping down to an advisory role in July this year.

The appointment is being seen as one of the preventive measures that the company has put in place to ensure all forex deals are properly scrutinised, especially after the discovery of potentially fraudulent forex deals entered on the company’s behalf in November.

Hexaware had earlier announced that it would suffer a loss of about $20-25 million (Rs 80-100 crore) owing to exotic ‘options’ transactions conducted by an un-named company official.

Belonging to one of the early batches of investment bankers in India, Mr Mitra was instrumental in setting up the merchant banking division of Bank of India and Standard Chartered Bank.

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