Directors of 23 cos quit post-Satyam

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chennai: directors of Andhra Pradesh based-EMRI have also put down their papers.

On January 7, GR Sundaravadivel, director of Lotus Eye Care and the chairman of the audit committee submitted his resignation from the company on personal grounds. On the same day, the Hyderabad-based Coromandel Fertilisers informed stock exchanges that S Viswanathan, one of the independent directors of the company had submitted his resignation. Viswanathan also resigned from the director board of EID Parry, one of the group companies of Coromandel Fertilisers.

On January 5, Cambridge Technology Enterprises said that HK Katti, one of the directors, resigned from his post effective January 5 and the company said in its regulatory filing that it would fill the vacancy arising out of the resignation of Katti within the stipulated period.

Similarly, Omaxe Ltd lost its executive director Vipin Aggarawal on January 3 while Nelcast informed bourses on January 2 that J Joseph, its managing director had resigned. Sanghi Polyester, a company belonging to the Sanghi group in which a full blown family fued is on for management control, notified regulators on January 8 that Reena Gupta, one of the directors of the company resigned from her post effective January 1. Similarly, Dayashanker Pandey decided to call it a day at SAL Steel Ltd effective January 1, while Kamal K Guota resigned from the post of vice-president and secretary of the company on the New Year eve.

Other companies which lost top management talent include Empee Distilleries Ltd (RS Nagra), ABB Ltd (Ravi Uppal), Empee Sugars (RS Nagra), Ramco Industries (SA Bhima Raja), Shri Clochem Ltd (Suersh Patel), Suashish Dimond (Pawankumar Bagla), Modella Woolnes (KC Narang), Vintage Cards (Rajesh Vaishnav), Astra Zeneca (Graham Baker), Atul Ltd (LL Shah), Indage Vinters (WillKomm, Le Saux and Antoine Merlaut), Parsvnath Developers (Vijay B Raheja), and HCL Infosystems (Narsimhan Jagadeesh).