Rajat Gupta resigns from PHFI

NEW DELHI: Rajat Gupta, the former McKinsey & Co chief accused of insider trading in the US, has resigned from the board of Public Health Foundation of India (PHFI).

"He has sent his resignation to the board," K Srinath Reddy, President of PHFI, said.

Reddy said the Executive Committee of the board will meet on Monday and a full board meeting will be held a few days later to take a final decision.

Among the noted members on the PSFI board are A K Shivkumar, adviser UNICEF and member of National Advisory Council, noted economist Amartya Sen and Planning Commission Deputy Chairman Montek Singh Ahluwalia.

The US Securities Exchange Commission has accused Gupta of conspiring with hedge fund executive Raj Rajaratnam in an insider trading scam.

PHFI is involved in training, research and policy development in the area of public health.