"Sapre submitted his resignation from the position of managing director as well as his directorship from the company effective from November 2, due to his other commitments," the company said in a late evening filing to the BSE.
It can be noted that in a big jolt to the efforts of the government-appointed board led by banker Uday Kotak, board member GN Bajpai, who was also a former chairman of the LIC and the markets watchdog Sebi resigned from the IL&FS group board Thursday within 30 days of his appointment, citing personal reasons. His resignation is effective October 30, the company had said Thursday.
Post Bajpai's exit, the members remaining on the company's board are banker Uday Kotak, who is the chairman; ICICI Bank non-executive chairman GC Chaturvedi; IAS officer and the director general of shipping Malini Shankar; Mahindra group's Vineet Nayyar, veteran auditor Nandkishore and CS Rajan, a former chief secretary of Rajasthan.
(With inputs from agencies.)