Shahid Balwa, managing director, DB Realty has resigned from the company after coming under the central Bureau of Investigation?s (CBI) scanner with regard to the 2G spectrum issue, according to news reports.
In a filing to the Bombay Stock Exchange, the company has said that its board has accepted Balwa?s resignation, with effect from March 9, 2011, in view of his preoccupations relating to certain investigations as per his letter of the same date.
Balwa, vice chairman of Etisalat’s Indian joint venture, was arrested in February after his firm was accused of being among two firms that were given undue preference in licence grants in 2008.
