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Ujjivan Small Finance Bank, managing director and chief executive officer resigns from his position, which will be put to action on September 30, 2021. Due to personal reasons.
Chugh, will not be the director from the same date. And his tenure as the managerial personnel will also come to an end according to terms of section 203 of the Companies Act, 2013.
In an exchange filing, the small finance bank said, “the board of the bank has taken note of the letter it received from Chugh on August 18, resigning from his position as the MD&CEO of the bank, on August 19 and has appreciated his valuable contribution to the board and the bank during his association.”
On contrary, the bank has 4 directors on board, along of which 2 are independent.
