MTNL CMD resigns

In a surprise development, telecom PSU MTNL’s Chairman and Managing Director R S P Sinha has resigned from the post. “Yes, I have put in my papers,” Sinha said but did not speak about the reasons for stepping down. Sinha was on an ad-hoc extension after completing his five-year tenure in September last year. However, he is 18 months away from superannuation.

The resignation comes amid a debate over the falling revenues and financial performance of the corporation, which is also engaged in a legal battle for buying equipment from Motorola 10 years ago.