The stock lost 4.99 per cent to settle at Rs 372.80, its lower circuit limit, on BSE.
Shares of the company have been falling for the last 10 trading sessions and had lost a cumulative 34.79 per cent.
"Manoj Kumar has resigned from the board of directors of the company with effect from April 2, 2016. He had been asked to go on leave on the March 29, 2016, by the decision of the board of directors," the company had said in a BSE filing yesterday.
In a disclosure on February 18, the company stated that new auditors of the company are conducting limited review.
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