Realty firm Unitech Ltd on Friday said its nominee director Uma Shankar has resigned due to personal reasons.
In a regulatory filing, Unitech informed that Shankar, nominee director (Non-Executive) "resigned from the board of the company with effect from March 7, 2026".
The company also regretted about the delayed filing about her resignation to the stock exchanges, saying the same was "purely unintentional" and occurred due to "oversight".
1 April 2026
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The Supreme Court had directed the Union government, vide its order dated December 18, 2019, to appoint an independent management for Unitech Ltd.
In compliance thereto, the central government in the Ministry of Corporate Affairs proposed the constitution of a new board of directors, which was approved by the apex court on January 20, 2020.
Consequently, eight nominee directors were appointed by the central government on the board of Unitech Ltd. Uma Shankar was appointed as the nominee director on November 19, 2022.
Unitech Ltd is facing a huge cash crunch, resulting in significant delays in execution of its housing projects, primarily in Delhi-NCR.
