SOLVO ELEVATORS PRIVATE LIMITED

ELEVATORS AND ESCALATOR SERVICES

LETTER OF DEMOTION
To,
Mr. Bhavin Prajapati,
Employee Code: SET017
Sr. Maintenance Engineer,
Maintenance Department,
Head Office, Ahmedabad

Date: 30th November 2021

Sub: Demotion with reference to Employee Handbook Policy, Solvo Elevators 2016

Dear Mr. Bhavin,

We are writing this letter to inform you about your demotion from ‘Sr. Maintenance
Engineer’ to ‘Maintenance Engineer’ as we found you guilty of the act of theft of company
property under Policy No. 8: Discipline Policy, sub-rule 8.1, point no. 5 of Employee
Handbook, Solvo Elevators 2016, which states, “actions related to damage, destruction or
theft of company property, equipment, devices or assets;” (Theft of Brake Coil from Site
GOT011 which was to be brought to office for replacement)

You have been an exceptional employee and you got promoted to the senior position in the
month of December 2020 with a raise of 30% in your pay grade. When you were working as
a Maintenance Engineer, seeing your performance the company decided to promote you up
the ladder last year. Moreover, your pay was increase further by 25% from June 2021 as
company considered you as an asset. However, earlier this month there was an incident of
misplaced company property and your name came up as accused of the act under Clause III,
Reporting Violations of “Code of Conduct & Ethics”, Solvo Elevators, 2016. You were given a
chance to clarify on the matter in a closed meeting, wherein you completely falsified the
report. So, in the interest of the culture of the company, a team carried out investigation in
which you were found guilty on the grounds of identification of the property and
involvement of related parties. Hence, the company has decided to demote you from your
position of “Sr. Maintenance Engineer” to “Maintenance Engineer”. Please be informed that
this is the least of action the company has taken, and if you are found guilty in future of any
such act, your employment will be terminated.

This demotion will take effect from 1st December 2021. Your annual salary has been revised
with a 20% decrease to become INR 192000.00 plus company benefits.

We care for our employees and we want our employees to perform well for the overall good
of the company. We hope that you will refrain from this kind of activity in future and will
regain the trust of the organisation. We hope to see you back soon in the senior position.

Regards

CMD
Solvo Elevators Pvt. Ltd.

A-203, Satyamev 1, Opp. Gujarat High Court, SG Highway, Ahmedabad - 380060

CIN: U29308GJ2019PTC108440 | Email: contact@solvoelevators.in | www.solvoelevators.in