Mr. Nitin Chugh resigns as MD and CEO of Ujjivan Small Finance Bank

Ujjivan Small Finance Bank Limited has received a letter dated August 18, 2021 from Mr. Nitin Chugh (DIN: 01884659) tendering his resignation from the position of Managing Director and CEO of the Bank w.e.f. close of business hours on September 30, 2021.

His tenure as Director is co-terminus with his tenure as Managing Director and CEO of the Bank. Therefore, he shall cease to be a Director of the Bank with effect from the aforesaid date.

Consequently, he shall also cease to be Key Managerial Personnel of the Bank in terms of Section 203 of the Companies Act, 2013.

The Board of the Bank has taken note of the aforesaid letter today and has appreciated his valuable contribution to the Board and the Bank during his association. The Board wishes him the very best in his future endeavours.

He has confirmed, in his resignation letter, that he is resigning due to personal reasons and there are no material reasons.

Shares of Ujjivan Small Finance Bank Limited was last trading in BSE at Rs. 24.25 as compared to the previous close of Rs. 24.55. The total number of shares traded during the day was 624270 in over 2628 trades.

The stock hit an intraday high of Rs. 24.85 and intraday low of 24.05. The net turnover during the day was Rs. 15218192.

Source : Equity Bulls

Keywords