Engineering major Larsen & Toubro Limited has informed the NSE that Ravi Uppal, Whole-time Director & President (Power) of the Company has resigned as Director of the Company. The resignation will be effective from September 15, 2012.
The Economic Times had reported a few days ago that that Ravi Uppal, who lost out in the race for the chief executive's position at Larsen & Toubro, is a strong contender to join Cairn India after the departure of its high-profile CEO Rahul Dhir, who led the exploration company since its inception.
"Cairn India said it cannot comment on the matter, while Uppal did not respond to phone calls, but sources in both companies said that Uppal was likely to appointed," the Economic Times had reported.
Meanwhile, shares of L&T were trading lower by 1.50% at Rs 1377 on the Bombay Stock Exchange.