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India: Ashok Chawla resigns aschairman of Yes Bank

 |  November 15, 2018

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

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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