Gitanjali: Anil Umesh Haldipur resigns as PNB case continues
Another Gitanjali board member, Anil Umesh Haldipur, has resigned during the ongoing Punjab National Bank (PNB) fraud investigation that implicates the business’ owner, Mehul Choksi, in an over 11,300 crore rupees (approximately 1.7 billion US dollars) fraud.
On February 27, Anil Umesh Haldipur announced that he was resigning from the board of Gitanjali Gems citing personal reasons. Haldipur is the second independent director at Gitanjali to quit this month and the group’s Compliance Officer Pankhuri Warange and Chief Financial Officer (CFO) Chandrakant Karkare have also left the business.
Haldipur’s resignation, although just released, was dated February 14, 2018. The letter reads: "Last month, my wife has undergone a major spine operation at Pune. The post operation recovery is not up to the expected level. This has resulted in restrictions on my movement. Hence travelling for board meetings at Mumbai will be very difficult for me in future… Taking this factor into consideration I would like to step down as an independent director with immediate effect from the board and other companies.
"You are aware as an independent director, I don't have a role to play in the internal working of the company and the company will take proper steps to resolve these matter," added Haldipur.
The PNB fraud case rocked India’s jewellery industry on February 14 when the bank noticed fraudulent transactions with financial implication of over 11,300 crore rupees, and the bank is now speculating that the sum could be even greater. With the two main subjects of investigation in the case, Nirav Modi of Firestar Diamonds and Mehul Choksi of Gitanjali Gems currently abroad, the Central Bureau of Investigation (CBI) is closing in on those still in India with Vipul Ambani, Modi’s aide, already under arrest.
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