Parsvnath appoints three independent directors for SEZ arm

Parsvnath Developers Ltd today announced the appointment of three independent directors for its Special Economic Zone (SEZ) subsidiary, including the former Chairman of Andhra Bank and Canara Bank R J Kamath.     

Besides Kamath, D N Davar and B K Goswami have been appointed as independent directors of Parsvnath SEZ Ltd, a subsidiary of Parsvnath Developers.     

Davar is a Certified Associate of the Indian Institute of Bankers and a fellow of the Economic Development Institute of the World Bank. He was also the former Chairman of IFCI Ltd, the company said in a statement.     

Prior to joining Parsvnath, Goswami has worked at apex levels with the Centre, state governments and several other government undertakings, it added.     

Parsvnath SEZ plans to develop 17 SEZ, having a total saleable area of 367 million sq ft, in various segments like pharma, gems and jewellery, IT/ITeS, biotech, handicrafts, leather, food processing and automotive sectors apart from multi-product SEZs.     

Out of the planned SEZs, four have already been notified by the Centre at Indore, Gurgaon, Dehra Dun and Nanded.     

"This appointment means that we are continuously scouting to develop our core team to help achieve the objectives of our company," Parsvnath Developers Ltd Chairman Pradeep Jain said.