N Srinivasan, the Vice-Chairman and MD of India Cements, has resigned from the boards of Vijay Mallya-promoted firms – United Breweries (Holding) Ltd and McDowell Holding Ltd.
Both the companies – United Breweries (Holding) Ltd and McDowell Holding Ltd – informed the bourses about the resignation of Srinivasan from their respective board.
“We hereby inform that N Srinivasan has resigned from the office of Director of the company,” United Breweries (Holding) Ltd (UBHL) said in a regulatory filing.
However, both the companies did not disclose the reason behind his resignation.
Shares of UBHL closed 2.09 per cent lower at Rs 37.45 on BSE today, while McDowell Holding settled at Rs 38.80, down 2.27 per cent from previous close.