Gupta resigned from the post due to personal reasons.

Meanwhile, the board of directors of the company has appointed Desh Deepak Khetrapal as the managing director for a period of one year, effective from 15 July 2023, designated as vice chairman and managing director of the company.

The appointment is based on the recommendation of the Nomination and Remuneration Committee, subject to approval of the shareholders.

Khetrapal holds an Honours degree in Business and Economics from Shri Ram College of Commerce and an MBA degree from Faculty of Management Studies, Delhi University. He has experience in industrial, consumer, and retail businesses.

He is a business leader with a track record of leading and transforming large and diversified organisations across various industries, including services, industrials, and consumer and retail businesses.

Orient Electric is primarily engaged in manufacture/purchase and sale of electrical consumer durables, lighting & switchgear products.