Lava International MD Sunil Raina, CFO Rajesh Sethi step down
Co-founder Hari Om Rai, who stepped down as managing director in 2023, has returned to the role
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Published: Oct 24, 2026 9:26 AM | 1 min read
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- Lava International's Managing Director Sunil Raina and Chief Financial Officer Rajesh Sethi have announced their resignations as the company aims to secure new capital and stimulate business growth.
- Co-founder Hari Om Rai, who previously stepped down in 2023, has returned to the role of Managing Director.
- A company spokesperson acknowledged Sethi's contributions to the financial operations and priorities of Lava International.
- The leadership changes are part of Lava's strategy to leverage opportunities in the sub-Rs 20,000 smartphone market and explore avenues for growth.
Co-founder Hari Om Rai, who stepped down as managing director in 2023, has returned to the role
Lava International Managing Director Sunil Raina and Chief Financial Officer Rajesh Sethi have decided to step down from their respective roles at the homegrown handset maker, as the company looks to secure fresh capital and revive business growth.
“We would like to inform that Sunil Raina, Managing Director, and Mr. Rajesh Sethi, Chief Financial Officer (CFO), have decided to move on from their respective roles at the company,” a Lava International spokesperson told a news publication.
As per the report, the spokesperson also acknowledged Sethi’s contributions as CFO, noting that he supported the company’s financial operations and business priorities.
Co-founder Hari Om Rai, who stepped down as managing director in 2023, has returned to the role.
The leadership changes come as Lava seeks to capitalise on emerging opportunities in the sub-Rs 20,000 smartphone segment and explore fresh capital and growth opportunities to revive its business.
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