Suven Life Sciences today said T R Prasad — one of the independent directors of the disbanded board of fraud tainted Satyam — has resigned from its board of directors. Prasad, former cabinet secretary, recently resigned from GMR Infrastructure board also due to personal reasons.
Prasad was one of the independent directors in Satyam and expressed his views on the controversial $1.6 billion Satyam-Maytas aborted deal. Immediately after the deal, he insisted that the then Satyam board had given only in-principle approval and final go ahead was required upon consideration of valuation.
Disgraced founder of the IT firm, Ramalinga Raju while disclosing his Rs 7,000 crore financial fraud had identified Prasad as one person who was "well-placed to mobilise support from the government at this crucial time."