Another resignation of independent director of DB Realty Board from the board of the company. The real estate company introduced Krishna Murari Goenka , father of the promoter Vinod Goenka , and Usman Balwa, father of the promoter and the previous Managing Director Shahid Balwa, as additional Directors.
Michael McCook, was a non – executive Director who resigned from the board last week. He was on the board since June 28, 2008 as a nominee director of financial investor Bollywood Mauritius Holdings, Mauritius. Bollywood Mauritius holds 4.66% stake in DB Realty. The company on April 21, appointed KM Goenka and Usman Balwa on the board, announced in a notice to the stock exchange.
The Delhi Court had rejected the bail pleas on April 20 of five corporate executives, including Swan Telecom Director Vinod Goenka, named by CBI as one of the accused in 2G scam. DB Realty’s former managing director Shahid Balwa in 2G Spectrum case is already in Tihar jail.