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Hyderabad, Aug. 4.

Dr A.V.S. Raju, Founder Chairman and Promoter Director of Nagarjuna Construction Company Ltd (NCC), has stepped down from his post. The Hyderabad-based infrastructure major has informed BSE that Dr. Raju has submitted resignation as Chairman as well as Director of the company. The board at its meeting on July 31, while reluctantly accepting the resignation and keeping in view the valuable contribution of the septuagenarian Dr. Raju in the growth the company has unanimously resolved to appoint him as ‘Chairman- Emeritus’. The Rs 3400-crore turnover company would soon appoint a new Chairman. Mr A. Ranga Raju continues to be the Managing Director and Chief Executive Officer, a company official said. —

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