Real Estate
Unitech's Nominee Director Uma Shankar Resigns Due to Personal Reasons
Realty firm Unitech Ltd has announced that its nominee director, Uma Shankar, has resigned due to personal reasons, effective March 7, 2026.
New Delhi, April 24: In a regulatory filing, Unitech informed that Shankar, nominee director (Non-Executive), "resigned from the board of the company with effect from March 7, 2026."
Background
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Supreme Court order (December 18, 2019): Directed Union government to appoint independent management for Unitech Ltd
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New board approved: January 20, 2020
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Uma Shankar appointed: November 19, 2022 (as nominee director by central government)
Delayed Filing
The company regretted the delayed filing about her resignation to the stock exchanges, stating it was "purely unintentional" and occurred due to "oversight."
Company Context
Unitech Ltd is facing a huge cash crunch, resulting in significant delays in execution of its housing projects, primarily in Delhi-NCR.