Money & Banking

Keki Mistry's tenure as director of HDFC Bank ends

| | Updated on: Mar 30, 2011
image caption

HDFC Bank on Wednesday said Mr Keki Mistry has ceased to be a director on its board as he has completed his eight-year tenure.

“Mr Mistry has completed his eight-year tenure at the close of business hours on March 26, 2011, and as a consequence has ceased to be a director of the bank,” HDFC Bank informed the Bombay Stock Exchange.

In terms of the provisions of Section 10A(2A)(i) of Banking Regulation Act, 1949, no director of a banking company, other than its chairman or whole-time director, by whatever name called, shall hold office continuously for a period exceeding eight years, the bank said.

Mr Mistry is Vice-Chairman and Chief Executive Officer of HDFC Ltd which is the promoter of HDFC Bank, with around 23.6 per cent stake.

Published on March 30, 2011

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

COMMENTS
This article is closed for comments.
Please Email the Editor

You May Also Like

Recommended for you