Shrivardhan Goenka, son of city-based industrialist GP Goenka, has stepped down as Director of Duncans Industries Ltd.
GP Goenka is the Executive Chairman of the company, as per the company's website.
Duncans Industries in a late evening notification has "informed the BSE that the resignation as submitted by Shrivardhan Goenka vide his letter dated October 07, 2015 with immediate effect from the board of directors of the company has been noted by the board by a Circular Resolution dated October 29, 2015."
Interestingly, the CID has on Monday initiated a probe against Duncans for alleged non-payment of wages to tea estate workers.
Cases of cheating and breach of trust has been initiated by the investigating agency against the company and its officials.