Cemtrex, Inc. Announces Resignation of Raju Panjwani from the Company’s Board and Audit Committee
February 12, 2021 at 03:05 am IST
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On February 8, 2021, Cemtrex, Inc. (the 'Company') received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that, because of the resignation of Raju Panjwani from the Company’s board and audit committee, effective January 25, 2021, the Company no longer complies with Nasdaq’s audit committee requirements as set forth in Listing Rule 5605.
Cemtrex, Inc. is an advanced security technology and industrial services company. The Company's segments include Security and Industrial Services. The Security segment operates under the Vicon Industries brand, which provides end-to-end security solutions to corporate, industrial, and governmental security. Vicon's products include browser-based video monitoring systems and analytics-based recognition systems, cameras, servers, and access control systems for security and surveillance. Vicon provides mission-critical security and video surveillance solutions utilizing artificial intelligence (AI) based data algorithms. The Industrial Services segment operates under the brand, Advanced Industrial Services (AIS), that offers services for rigging, millwrighting, in plant maintenance, equipment erection, relocation, and disassembly to diversified customers. The Company also operates as a service contractor and steel fabricator that specializes in industrial and water treatment markets.