Anjan Lahiri, CEO of Sasken Communication Technologies has resigned from the company, just over a year after he took over the role to try and turn around the struggling mid-sized IT player. Lahiri's resignation was effective Tuesday, Sasken said in a filing with the Bombay Stock Exchange on Wednesday morning. With so many near-death experiences, as top customers went bankrupt, Sasken became inconsequential for analysts and the industry. Until recently, it also enjoyed almost 40% attrition rates. However recently, the company won a close to $40 million arbitration award, which for a company with $80 million revenue, is quite a bounty. With the new money, Sasken founder has got a shot in the arm. The company now plans to use that money in developing new solutions.

Read the Economic Times news report here.