The Board of Directors of HDFC Bank Ltd have, at their meeting held today, approved the appointment of Mr. Sandeep Parekh (DIN: 03268043) as an Additional Independent Director of the Bank for a period of five (5) years effective from today i.e. January 19, 2019, subject to the approval of the shareholders.
Mr. Sandeep Parekh is the managing partner of Finsec Law Advisors, a financial sector law firm based in Mumbai. He was an Executive Director at the Securities & Exchange Board of India during 2006-08, heading the Enforcement and Legal Affairs departments. He is a faculty at the Indian Institute of Management, Ahmedabad. He has worked for law firms in Delhi, Mumbai and Washington, D.C. Mr. Parekh focuses on securities regulations, investment regulations, private equity, corporate governance and financial regulations. He holds an LL.M. (Securities and Financial Regulations) degree from Georgetown University and an LL.B. degree from Delhi University. He is admitted to practice law in New York and is a member of Mensa. He was recognized by the World Economic Forum as a "Young Global Leader" in 2008. He was Chairman and member of various SEBI and RBI Committees and sub-Committees and is presently the Chairman of SEBI's Proxy Advisory working group and a member of SEBI's Mutual Fund Advisory Committee.
Mr. Parekh is not debarred from holding office of director by virtue of any SEBI order or any other such authority. Mr. Parekh is not related to any director of the Bank.
Shares of HDFC Bank Ltd was last trading in BSE at Rs.2131.2 as compared to the previous close of Rs. 2129.05. The total number of shares traded during the day was 50299 in over 1618 trades.
The stock hit an intraday high of Rs. 2139.75 and intraday low of 2115. The net turnover during the day was Rs. 107125971.