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SB Raheja resigned from the Board of Directors of Rajan Raheja-controlled Exide Industries on Monday. SB Raheja, Rajan’s brother, was a non-executive director in the battery major. According to a stock market notification, he resigned “due to personal reasons”.
With this development, HDFC Chairman Deepak Parekh also ceases to be a member of the Exide Board since Parekh was alternate director to SB Raheja.
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