Mr. V.Vaidyanathan is the CEO and MD of IDFC First Bank. The bank has advised the stock exchange as follows on Sept 28th.. It does not say that VV is the MD of the bank. Does the bank think that anyone reading the announcement should know who he is? (Of course, he has done well in donating shares to his teacher.)
" Dear Sir / Madam, Pursuant to Regulation 30 of the SEBI Listing Regulations read with Regulation 7(2) and 6(2) of the SEBI Insider Trading Regulations, we wish to inform you that Mr. V. Vaidyanathan has transferred 1,00,000 fully paid-up equity shares of IDFC FIRST Bank Limited held by him in his personal capacity to his former school teacher, Mr. Gurdial Saroop Saini, as a gift, without any consideration as a token of gratitude for his teacher’s help to him at an earlier stage in his life. It is clarified by Mr. Vaidyanathan that Mr. Saini is not a related party under Companies Act, and that the recipient will pay taxes as per applicable tax laws. Kindly take the above on record and acknowledge receipt of the same. Thanking you, Yours Faithfully, For IDFC FIRST Bank Limited Satish Gaikwad Head – Legal & Company Secret"
Here is another interesting announcement:
"IDFC First Bank Limited has received an intimation vide letter dated September 4, 2020, from Dr Rajiv B Lall wherein he has tendered his resignation as part-time non-executive chairman from the board of the bank with immediate effect citing that he has been dealing with his prolonged personal health issues for a while now," the bank said in a regulatory filing.
Dealing with prolonged health issue for a while?
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