As per substitution letter received from IDBI Bank Limited nominating Mr. Rajeev Kumar Sinha (DIN-01334549) in place of Mr. Gautam Dutta (DIN- 02335468), the Nomination and Remuneration Committee of 3i Infotech Ltd has recommended to the Board of Directors ('the Board') appointment of Mr. Rajeev Kumar Sinha as a Nominee Director on the Board of the Company. Accordingly, the Board vide circular resolution passed on June 14, 2019 have appointed Mr. Rajeev Kumar Sinha as a Nominee Director - IDBI Bank Limited with immediate effect. Please find enclosed herewith the brief details of his appointment as prescribed in SEBI LODR.
Mr. Rajeev Kumar Sinha who has been appointed as a Nominee Director (IDBI Bank Limited) is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.
Further, the Board also took note of resignation of Mr. Gautam Dutta as Nominee Director- IDBI Bank Limited and also approved re-constitution of Audit Committee by inducting Mr. Rajeev Kumar Sinha as Member of the Audit Committee in place of Mr. Gautam Dutta.
Mr. Rajeev Kumar Sinha has done M Sc (Electrical engineering) from St. Petersburg University, Russia (erstwhile Leningrad Institute, USSR). He has also cleared UPSC and served in Ministry of Defense for a period of one and half years. He has joined IDBI bank in 1998 in Mumbai and worked in Corporate Finance upto 2006 and he was a part of the team implementing first Corporate Debt Restructuring in the Banking Sector of India. In 2009, Mr. Sinha was posted at Dubai to set up and start the first overseas Branch of the IDBI Bank Limited and he served as CEO of Dubai branch at Dubai International Financial Center till November 2014. Later, in January 2015, he was posted to Corporate banking Group at Head Office in Mumbai.
Shares of 3I INFOTECH LTD. was last trading in BSE at Rs.3.38 as compared to the previous close of Rs. 3.44. The total number of shares traded during the day was 86411 in over 124 trades.
The stock hit an intraday high of Rs. 3.55 and intraday low of 3.35. The net turnover during the day was Rs. 294295.