DB Realty appoints KM Goenka as non-executive chairman
DB Realty today said it has appointed KM Goenka, father of its promoter Vinod Goenka, as the non-executive chairman of the board and also inducted three independent directors.
The announcement comes nearly a month after appointment of KM Goenka and Usman Balwa -- fathers of its promoters Vinod Goenka and Shahid Balwa who have been arrested in the 2G telecom scam case -- as additional directors to guide the company at a time of crisis.
In a filing to the Bombay Stock Exchange, DB Realty said: "The company in the board meeting appointed KM Goenka as the non-executive chairman of the board."
KM Goenka will replace Karunchandra Srivastava, who resigned as non-executive chairman and also as independent director of the company, with effect from today.
The board, in its meeting held today, appointed three directors -- Jagat Killawala, NM Rafique and Janak Desai -- as independent directors with immediate effect.
Before Srivastava, five directors had resigned from the company's board.