IL&FS Investment Managers non-exec independent director Mehta resigns; to join Yes Bank board

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.