Podia said the dismissal is 'with immediate effect, without compensation and without notice'.
The group's financial controller, Colin Ranger, will report to the board regarding finance matters as an interim measure.
Podia sacks FD for gross misconduct
Sports marketing group Podia has dismissed FD Hatim Dungarwalla for gross misconduct, following his suspension on 31 October 2002 while an investigation into accounting irregularities at its subsidiary TMG UK took place.
Accountancy Age, 12 Nov 2002
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Podia has merchandising agreements with a number of Formula One teams, including Williams BMW, Arrows and Jaguar. Share holders included F1 commentator, Tony Jardine.
The shares are currently suspended at 19p, valueing the company at just over £12m.
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