Ujjivan Small Finance Bank MD and CEO Nitin Chugh resigns, will step down on September 30
Nitin Chugh, Director General and Chief Executive Officer of the Ujjivan Little Finance Bank, presented his resignation, said the lender in a regulatory deposit on August 19.
The resignation will come into force from September 30, 2021.
“We hereby inform you that the Bank has received a letter dated 18 August 2021 by Mr. Nitin Chugh calling for his resignation from the position of Director General and Chief Executive Officer of the Wef Bank Close business hours on September 30, 2021, “SFB from Ujjivan said in his BSE filing.
Chugh confirmed, in his resignation letter, that he resigns because of personal reasons and “there are no material reasons,” said the bank.
Chugh’s mandate as a director of the Bank, which is co-finished with his mandate as Chief Executive Officer and Chief Executive Officer, would also end after the resignation of his resignation, she added.
“Therefore, it will also cease to be the main staff of the Bank in terms of Article 203 of the Corporate Act,” the lender noted further.
The Bank also stated that its Board of Directors, which took note of the Chugh’s resignation letter and “appreciated its valuable contribution” to the Board of Directors and the Bank during its association. “The Council wishes him the best future efforts,” he added.
