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India: Ashok Chawla resigns aschairman of Yes Bank

By  |  November 15, 2018

Former bureaucrat Ashok Chawla resigned as non-executive chairman of Yes Bank on Wednesday, November 14, the private sector bank announced.

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    According to sources, Mr Chawla offered to quit as controversy was being generated on his continuance on the board of directors following his name appearing in a CBI charge-sheet in the Aircel-Maxis case.

    “Yes Bank announces that Shri Ashok Chawla, Non-Executive Independent Part-Time Chairman, has tendered his resignation from the Bank’s Board, with immediate effect, mentioning that during the current transition period, the Bank would need a Chairman who could devote more time and attention,” the bank stated in a regulatory filing.

    The bank further announced that it would in due course announce the appointment of a chairman after approval of the Reserve Bank of India.

    Full Content: Times Now News
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