Sasken Communication opened weak today but went on slipping to finally hit the 20% lower circuit at Rs.253.

The company announced today morning that  Mr. Anjan Lahiri, Whole Time Director & CEO has resigned from the services of the Company and consequently from the Board of Directors effective September 23, 2014. Mr Lahiri was earlier CEO of the IT business of Mindtree and he was considered to be a good ‘catch’ to spearhead the company into better future. Thus his sudden resignation has raised uncertainty and many doubts.

Sasken is an R&D technology solutions company offering wireless software products, solutions and services for consumer electronics and network engineering services.