New Delhi: KP Singh of DLF Ltd has stepped down as whole-time director of the company. However, he will continue to be its non-executive chairman. DLF is seeking its shareholders’ approval for appointment of Singh for continuation as a non-executive director (designated as chairman of the company), according to a regulatory filing on Bombay Stock Exchange.
The company said its shareholders in the annual general meeting on July 30, had approved the reappointment of Singh as a whole-time director designated as chairman for five years with effect from October 1, 2018.
But Singh told the shareholders during the AGM that it may not be possible for him to continue as a whole-time director.
To approve the resignation of Singh, company’s board met on July 30 and accepted his resignation as whole-time director designated as chairman.