NIIT board approves hike in FII stake to 30

It may be remembered that the board had decided to withdraw a resolution to this effect at the previous AGM in September owing to a disagreement with shareholders who felt the time was not ripe for such an exercise. They held the view that due to the then prevailing price of the company8217;s scrip, the board should defer the decision.

At Monday8217;s meeting, the board also decided to appoint two non-executive directors. The two new directors are Motorola India chairman Amit Sharma and a leading financial and management consultant SubrotoBhattacharya.

According to a official spokesperson of the company, the decision to take the two new directors onboard was taken keeping in line with the global norms of corporate governance to include eminent people on the board of corporates.

At present, NIIT board has besides chairman Shiv Nadar, five directors: the managing director Rajendra S Pawar, president and chief executive Vijay K Thadani, chief operating officer P Rajendran, director software solutions Arvind Thakur and Gopal D Chakravarthy, who is director incharge of NIIT8217;s Europe operations.