Tata Comm independent director resigns from board

Posted By: Religare
Subscribe to GoodReturns

Tata Comm independent director resigns from board
The independent director of Tata Communication, Dr V R S Sampath is reported to have resigned from the board. Although V R S resigning from the designation is not big deal, however, his known association with DMK party has created a lot of controversy.

Sampath was appointed to the Tata Communications' board in 2005. He was also accompanied by P V Kalyanasundaram. The appointment was done as per the nomination by the government, which holds a stake in the company. While Kalayanasundaram already tendered his resignation on May 20, 2011, Sampath ceased to be a director on June 2, 2011.

The resignation of both the board members raised controversy when media suggested the members to have association with DMK party. Further, speculations were made that both of their resignation was waiting for DMK supremo Karunanidhi's daughter Kanimozhi arrest to take place, who was accused to have connection with the 2G scam.

Commenting on the media reports Tata said, “The company is not aware of the political affiliations of its Directors, if any. In this particular case, neither the government nor the concerned independent directors have made any disclosure regarding their political affiliations. The appointment of Kalyanasundaram and Sampath to the Tata Communications board followed their nomination by the government and their election at the annual general meetings."

Story first published: Saturday, June 4, 2011, 9:30 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'