T R Prasad resigns from GMR Infrastructure Board

13 Jan 2009, 2019 hrs IST, Vikas Bhardwaj, ET Bureau

NEW DELHI: GMR Infrastructure today said T R Prasad – one of the independent directors of the disbanded board of Satyam in the wake of financial

fraud – has resigned from its Board of Directors. "He has resigned from the board due to personal reasons," a spokesperson of GMR Group said.


Prasad, former Cabinet secretary, was one of the independent directors in the disbanded board of fraud tainted Satyam and expressed his views on the controversial 1.6 billion dollar Satyam-Maytas aborted deal
.

Immediately after the deal, Prasad insisted that the then Satyam board had given only in-principle approval and final go ahead was required upon consideration of valuation.

Disgraced founder of the IT firm, Ramalinga Raju while disclosing his Rs 7,800 crore financial fraud had identified Prasad as one person who was "well-placed to mobilise support from the government at this crucial time."

via:E.T