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Our Bureau

Chennai , Jan. 3

Mr S. Venkitaramanan has resigned from the board of directors of Southern Petrochemical Industries Corporation (SPIC), the company informed the stock exchanges on Wednesday.

Mr Venkitaramanan, a former Governor of the Reserve Bank of India, had been associated with SPIC for nearly four decades, indeed right from the company's inception in late 1960s.

As the Secretary, Industries Department, Government of Tamil Nadu, he was instrumental in setting up SPIC as a joint venture between the M A Chidambaram group and the Government of Tamil Nadu.

Later, during the mid-1970s, as the Vice-Chairman and President of SPIC, he turned around the company. It is said that he did this chiefly by importing fertilisers and selling them in SPIC's brand name.

After his stint as the RBI Governor, Mr Venkitaramanan joined SPIC's board, where he served for over a decade. No reasons have been given for his resignation.

More Stories on : People | Fertilisers

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