homebusiness Newscompanies News

Sameer Gehlaut resigns as non exec director of Indiabulls Housing, requests his holdings be classified as 'public'

Sameer Gehlaut resigns as non-exec director of Indiabulls Housing, requests his holdings be classified as 'public'

Sameer Gehlaut resigns as non-exec director of Indiabulls Housing, requests his holdings be classified as 'public'
Profile image

By CNBCTV18.com Mar 15, 2022 8:50:47 AM IST (Updated)

The IHF promoter has no control over the company or its day-to-day activities. Indiabulls Housing will consider Sameer Gehlaut’s request for classification of his holdings as ‘Public’ today.

Indiabulls Housing Finance promoter and founder Sameer Gehlaut has resigned as non-executive director, effective March 14, the company said in an exchange filing on Monday. Earlier in December, the company had said that Gehlaut will resign from the board by the end of the fiscal.

Recommended Articles

View All

Gehlaut, who has 9.71 percent stake in the company, has requested that his holdings be classified as 'public' from 'promoter'. The IHF promoter has no control over the company or its day-to-day activities.
"We are beginning a new journey today at Indiabulls Housing. Sameer Gehlaut has resigned from the board and we have a board meeting today to consider approving depromoterisation, subject to requisite approvals," the company added.
"I have resigned from the Board of Dhani to fully focus on and institutionalize Indiabulls Housing(IBHFL). The plan is to work under the guidance of Mr Mundra(former Deputy Governor of RBI and Non Executive Chairman of the Board) and other Board members besides institutional shareholders and other stakeholder to scale up the company to the next level as a large mortgage originator," Gehlaut said.
The company will consider Gehlaut’s request for classification of his holdings as ‘Public’ today.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Top Budget Opinions

    Most Read

    Market Movers

    View All
    Top GainersTop Losers
    CurrencyCommodities
    CompanyPriceChng%Chng