Jammu & Kashmir Bank announced three of its directors have resigned quoting personal reasons. The bank said in a regulatory filing that three directors have tendered their resignations from the directorships of the bank due to personal reasons with effect from 29 June 2016. The three are Dalip Kumar Kaul, Khaver Alam Jeelani and Vikrant Kuthiala. As of now the bank has 7 directors on its board. Of these, one is the chairman and chief executive officer Mushtaq Ahmad. Among the others are three independent directors – Azhar-ul-Amin, Masooda Jabeen and Rakesh Kumar Gupta- one RBI nominee – J P Sharma – and two non-executive directors – Abdul Majid Mir and Navin Kumar Choudhary.
Nidhi Singh
July 5, 2016at5:39 pm
Since the induction of the qualified professional independent directors in August 2014 , the true figure of NPA disclosure started.It seems that the resignation has taken place under mysterious circumstances as stated in the article.The reasons for resignation donot seem personal.This sudden resignation of the qualified professional independent directors before completion of their tenure needs to be looked into by RBI.This shakes the faith of the FII’s , who are a huge shareholder in this bank.