GET Stock QuotesNews18 APP
News18 English
»
1-min read

Amul Dairy MD Resigns, Board Refutes Corruption Allegation

A statement issued by the Amul Dairy said Jayen Mehta, senior general manager (planning and marketing), has been appointed as in-charge MD of Kaira Milk Union.

PTI

Updated:April 1, 2018, 10:41 PM IST
facebookTwittergoogleskypewhatsapp
Amul Dairy MD Resigns, Board Refutes Corruption Allegation
Representative image
Anand: The managing-director of Anand-based Kaira District Co-operative Milk Producers Union Limited, popularly called Amul Dairy, has resigned and his resignation was accepted in a board meeting on Saturday, the milk cooperative's chairman Ramsinh Parmar said.

While K Rathnam's resignation comes amidst allegations of a Rs 450-crore corruption in allocation of tenders and recruitment at the dairy, Parmar refuted the charges, and also said he stepped down not over these allegations, but because of family reasons.

A statement issued by the Amul Dairy said Jayen Mehta, senior general manager (planning and marketing), has been appointed as in-charge MD of Kaira Milk Union.

The KDCMPUL is one of the 18 District Co-operative Milk Producers' Unions federated to the Gujarat Co-operative Milk Marketing Federation Limited, Anand, which markets milk and milk products under the "Amul" and "Sagar" brand.

Rathnam (55) told reporters that he resigned as he wanted to spend time with family living in Tamil Nadu and the United States. "I have been thinking of resigning for sometime now."

"I have worked for Amul for 22 years, and want to do something for myself in the next 10-15 years. I want to spend time with family members residing in the US and Tamil Nadu," he said.

Parmar said that Ratnam served as the MD for four years and had been speaking about wanting to spend time with his wife and daughter who live in the US.

"Considering all this, I told him I have no objection if he wants to quit," said Parmar.

The Amul Dairy statement also said Parmar refuted allegations of corruption as "perpetuated by rumour-mongers."

"Parmar has informed that this (reports in a section of the media that Rathnam resigned as he has been found guilty of fraud) is far from truth and has been perpetuated by rumour-mongers," the statement said.

Also Watch

| Edited by: Ashish Yechury
Read full article
Next Story
Next Story
facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 352.40 +27.15 +8.35
TCS 3,539.25 +69.00 +1.99
Reliance 975.35 +4.85 +0.50
PC Jeweller 236.90 -7.50 -3.07
NIIT Tech 1,149.90 +62.40 +5.74
Company Price Change %Gain
Yes Bank 352.05 +26.85 +8.26
PC Jeweller 237.00 -7.25 -2.97
Hawkins Cooker 3,352.85 +543.50 +19.35
Indiabulls Real 203.55 -1.35 -0.66
Indiabulls Vent 455.70 -14.70 -3.13
Top Gainers
Company Price Change %Gain
Yes Bank 352.40 +27.15 +8.35
HUL 1,491.25 +32.05 +2.20
TCS 3,539.25 +69.00 +1.99
IndusInd Bank 1,881.90 +34.15 +1.85
Kotak Mahindra 1,185.70 +17.85 +1.53
Company Price Change %Gain
Yes Bank 352.05 +26.85 +8.26
HUL 1,491.25 +31.65 +2.17
TCS 3,540.35 +72.45 +2.09
IndusInd Bank 1,879.45 +29.90 +1.62
ITC 278.30 +4.40 +1.61
Top Losers
Company Price Change %Gain
Bharti Infratel 316.10 -9.35 -2.87
Lupin 792.70 -22.00 -2.70
Bharti Airtel 409.20 -10.65 -2.54
Wipro 281.35 -5.80 -2.02
Dr Reddys Labs 2,076.85 -41.15 -1.94
Company Price Change %Gain
Bharti Airtel 408.85 -10.95 -2.61
Dr Reddys Labs 2,080.40 -44.35 -2.09
Wipro 281.45 -5.75 -2.00
SBI 233.35 -4.05 -1.71
Tata Steel 579.05 -7.15 -1.22