Unitech Ltd Faces Fresh Leadership Reshuffle: Uma Shankar Steps Down
Unitech Ltd announced that Una Shankar, a nominee director, has resigned due to personal reasons. Her resignation took effect on March 7, 2026 and was reported late to the stock exchanges due to an oversight. The Supreme Court had directed the company to have independent management.
- Country:
- India
Unitech Ltd, a prominent real estate firm, revealed on Friday that Uma Shankar, one of its nominee directors, has resigned from her position. Her departure, effective as of March 7, 2026, is attributed to personal reasons, according to the company's regulatory filing.
The resignation notice was filed later than required, which the company described as an 'unintentional' oversight. The lapse occurred amidst Unitech Ltd's ongoing financial challenges, which have notably delayed housing projects primarily in the Delhi-NCR area.
In a move to bring independent management to Unitech Ltd, the Supreme Court had instructed the Union government to reconstitute its board with eight nominee directors in early 2020. Uma Shankar was appointed on November 19, 2022, following the court's order.
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