Krishna G Palepu, who was the non-executive director on the board of directors of Dr Reddy's Laboratories (DRL) today tendered his resignation from the board. Palepu was an independent director on the board of beleaguered Satyam Computer.
DRL Vice-Chairman and Chief Executive Officer GV Prasad said Palepu stepped down due to personal reasons citing paucity of time. Prasad also added that Palepu decided to resign from DRL board in the better interest of the company.
Palepu quit Satyam's board after the software maker's founder B Ramalinga Raju admitted to fudge the financial statements of the company. The role of Satyam's independent director have come under scrutiny for approving the company's plan to buy Maytas Infra and Maytas Properties, which were promoted by Ramalinga Raju and his other family members.
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