Economy

Kiran Karnik resigns from Devas board

| Updated on: Feb 11, 2011
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Mr Kiran Karnik, an independent director of Devas Multimedia Pvt Ltd, has resigned from the company's board. Mr Karnik said: “I have not resigned because I have any question or doubt on the processes or procedures followed under the agreement. I would not have accepted the post if I were in any doubt.

“ISRO has a great record but it is being made to look as if they have done something wrong. Devas has adhered to all the processes…But I do not have the time or the energy… in terms of talking to the media and explaining. The underlying thinking seems to be that you are guilty unless proven innocent,” he said.

A former President of Nasscom, Mr Karnik said that he had joined the Devas board less than two years ago due to his interest in the project.

> moumita@thehindu.co.in

Published on February 12, 2011

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