Uma Shankar appointed as nominee director on Unitech board

Realty firm Unitech Ltd on Thursday announced the appointment of Uma Shankar as nominee director on the company's board. She has extensive working experience of 37 years with the Reserve Bank of India, according to a regulatory filing.

Presently, Shankar is associated with EbixCash and IDBI Capital Markets and Securities Ltd as independent director and with Karnataka Bank as an additional director.

A few years back, the Supreme Court had directed that the erstwhile board of directors of Unitech Ltd be superseded and the management be taken over by the new board of directors in terms of the proposal submitted by the Union government.


The Ministry of Corporate Affairs proposed the constitution of a new board, which was approved by the Supreme Court on January 20, 2020. The ministry appointed eight nominee directors.

However in September, Unitech informed that Niranjan Hiranandani and Anoop Kumar Mittal have resigned as non-executive nominee directors of the company with effect from August 10 and August 16, respectively.

Prior to that, two other non-executive nominee directors Renu Sud Karnad and Balasubramanyam Sriram had in July resigned from the company's board citing professional constraints.

After the resignations of four nominee directors, the strength of the board had reduced to half.

Now with the appointment of Uma Shankar, the number has gone up to five.

Retired IAS officer Yudvir Singh Malik is currently the Chairman and Managing Director of Unitech Ltd.

Jitu Virwani, Girish Kumar Ahuja and Prabhakar Singh are the other three nominee directors of the central government.

Niranjan Hiranandani, who is Chairman of real estate firm Hiranandani group, had resigned due to his personal and business commitments and thus being unable to devote time to the decision-making process of the company.

Mittal, former chairman of NBCC, had resigned from the company "due to his interest by possessing two plots in sector-96 and 97 of Unitech Limited, Noida which were bought by his father in the financial year 2013-14 and have been transferred to him after the death of his father in 2016".