Shubhalakshmi Panse resigns as PNB Housing Finance unbiased director

NEW DELHI: PNB Housing Finance on Tuesday mentioned its unbiased director Shubhalakshmi Panse has resigned from her place within the firm to proceed together with her function at its competitor Can Fin Homes. Shubhalakshmi Panse, who had served as managing director at Allahabad Bank from October 2012-January 2014, was appointed as unbiased director of PNB Housing Finance Ltd (PNBHFL) in July 2017.

“In her resignation letter dated January 5, 2021, Shubhalakshmi Panse has referred to her telecommunication with the chairman… and mentioned about the sentiments expressed by majority of the board members. Panse… had accepted independent directorship in Can Fin Homes Ltd on June 15, 2020.

“Since both the companies are competitors, Panse was required to continue the directorship with either of the two companies in view of the corporate governance principles,” PNB Housing Finance mentioned in a regulatory submitting.

The chairman in his interplay with Panse had requested her to proceed on the board of PNB Housing given her contribution, expertise and information, as an alternative of Can Fin Homes. However, Panse expressed her need to proceed on the board of Can Fin Homes, the corporate added.

Shares of PNB Housing Finance have been buying and selling 0.31 per cent greater at Rs 367.65 apiece on BSE.