PNB Housing Finance in its statement said, “It’s independent director Shubhalakshmi Panse has resigned from her position to continue her role at Can Fin Homes.”
In a regulatory filing, PNB Housing Finance said, “Since both the companies are competitors. Panse was requested to continue the directorship with either of the two companies in the view of the corporate governance principle.”
“The chairman in his interaction with Panse had requested her to continue on the board of PNB Housing given her contribution experience and knowledge instead of Can Fin Home. However, Panse expressed her desire to continue on the board of Can Fin Homes,” the filing added.