DB Realty inducts K. Goenka, Usman Balwa as directors

Real estate company DB Realty today said it has appointed Mr Krishna Murari Goenka and Mr Usman Balwa as Additional Directors of the company with effect from April 21, 2011.

In a filing to the Bombay Stock Exchange, DB Realty said, “The Board of Directors of the company at a meeting held on April 21 has appointed Mr Krishna Murari Goenka (father of Vinod Goenka, promoter) and Usman Balwa (father of Shahid Balwa, promoter) as Additional Directors of the company with effect from April 21.”

Further, the company has also taken on record in the same meeting the resignation of Mr Michael McCook, from directorship of D B Realty, it said.

Meanwhile, a Delhi Court, had on April 20, rejected the bail pleas of five corporate executives, including Swan Telecom Director, Mr Vinod Goenka, named by the CBI as one of accused in the 2G scam.

Following the court order, all the five executives were arrested by the CBI and taken to Tihar Jail in the National Capital.

D B Realty had said its Managing Director, Mr Vinod Goenka, not getting bail in the 2G spectrum scam will not have any impact on the company’s operations.

Swan Telecom (Etisalat DB) is a joint venture between DB Realty and UAE-based Etisalat.

DB Realty’s former Managing Director, Mr Shahid Balwa, is already in Tihar jail in the 2G spectrum case.

COMMENT NOW