Jagdish Capoor resigns as independent non-exec director, board chairman of Manappuram Finance
Manappuram Finance Ltd on Monday said Jagdish Capoor has resigned as its independent non-executive director and chairman of its board, due to age-related reasons.
Capoor, independent non-executive director and chairman of the board, has tendered his resignation and is stepping down as director from the board with effect from Monday (October 18), Manappuram Finance said in a regulatory filing.
Capoor also confirmed that there are no material reasons for his resignation, other than those mentioned in his resignation letter, the company said.
In the resignation letter, he said: ''I wish to inform that reason for my resignation is age-related (I am now running 83). I confirm there is no...other reason behind my decision''.
He was associated with the company as a board member since July 2010 and was its chairman since May 2012.
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