IL&FS Investment Managers Ltd (IIML) on Thursday said its Non-Executive Independent Director Sunil Mehta has resigned from its board with immediate effect due to his new responsibilities.
Mehta, former non-executive chairman of Punjab National Bank, has been nominated in the reconstituted board of the Yes Bank.
"We hereby inform that Sunil Mehta, non-executive independent director of the company, has resigned as a member of the board of directors with immediate effect," IL&FS Investment Managers said in a regulatory filing.
Mehta, in his resignation letter, said, "Given my other new responsibilities, I hereby tender my resignation from the board and sub-committees of the IIML board, with immediate effect.
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