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Saturday, Nov 09, 2002

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Srei Securities MD resigns

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IN a direct fallout of the March 2001 share scam, Mr Dinesh Jain, Managing Director of Srei International Securites, accused in the on-going police investigation into the scam, and in jail custody till November 14, 2002, has resigned from the services of the company with effect from November 5.

Attempts by Business Line to contact Mr Hemant Kanoria, managing director of Srei International Finance, on the development at Srei International Securities did not yield any result.

It is learnt that the company today received the resignation letter of Mr Jain through the office of the Superintendent of Presidency Jail, Kolkata, where Mr Jain is still lodged.

Mr Jain is said to have stated in his letter that "he is innocent in all respects'' and that the "business and image of the company should not be affected in any manner in view of the adverse publicity''. The letter, sources said, has been conveyed after necessary verification by a Notary Public on its authenticity.

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