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| DB Realty inducts promoters' father |
| DB Realty inducts promoters' fathers on board
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| INDIA
, 25-April-2011
13:2:51 PM |
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Real estate company D B Realty said it has appointed fathers of its promoters Shahid Balwa and Vinod Goenka-- who have been arrested in the 2G telecom scam case-- as additional directors.
"The Board of Directors of the company...has appointed Krishna Murari Goenka (Father of Vinod Goenka) and Usman Balwa (Father of Shahid Balwa) as additional directors of the company with effect from April 21," D B Realty said in a filing to the Bombay Stock Exchange.
"Both of them have vast experience, maturity and business knowledge, which will immensely benefit the company," the Mumbai-based developer added.
Promoters Goenka and Balwa were arrested after a Delhi court denied them bail in the 2G spectrum scam case. Balwa was the founder of Swan Telecom which has telecom licence but is now under scrutiny. Goenka was also a director in Swan Telecom (now Etisalt DB) which a is joint venture between D B Group and UAE-based Etisalat.
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