BSE chairman, director quit

BSE board non-executive chairman Shekhar Datta and Jamshyd N Godrej, a shareholder-director, have resigned from the board on Tuesday.

Datta, a director of Bharat Heavy Electricals (BHEL), was the non-executive chairman of BSE, while Godrej is also the CMD of Godrej Boyce.

According to media reports, no reason has been given for the surprise decision by the two board directors. BSE is yet to make any announcement in this regard.

BSE MD & CEO Rajnikant Patel is the only full-time director of the BSE, while others are in non-executive capacity in the 12-member BSE board.

In the board three members represent brokers, and of the remaining, three are public interest directors and the rest shareholder directors. Reports said that Datta had differences with several members on various issues and often felt that there were no adequate efforts to further professionalise the board.

However, there is no certain answer to what provoked the chairman and Godrej to quit, although officially Godrej has excused himself for the lack of time, while Datta did not cite any reasons at all in his resignation letter.