Ex-Satyam director resigns from Sasken board
Serial entrepreneur and NewPath Ventures co-founder Vinod K. Dham resigned from the board of Sasken Communications as an independent director, a top official of the communications solutions provider said Monday.india Updated: Jan 20, 2009 05:30 IST
Serial entrepreneur and NewPath Ventures co-founder Vinod K. Dham resigned from the board of Sasken Communications as an independent director, a top official of the communications solutions provider said Monday.
"Yes, Dham has resigned as a director of the company from the board on January 17," Sasken chairman and managing director Rajiv C. Mody told IANS but declined to elaborate.
"We will inform you later, as we are busy with investors and analysts in a conference call on our third quarter performance," Mody added.
The US-based Dham resigned from the board of the fraud-tainted Satyam Computer Services Dec 29 as an independent director over the IT bellwether's aborted bid to acquire the two Maytas realty firms, run by the two sons of its disgraced founder and former chairman B. Ramalinga Raju.
Acclaimed worldwide as the "father of the Pentium processor", Dham was associated with the global chipmaker Intel for over a decade. Prior to his present occupation in NewPath Ventures, an India-US venture fund, he was the chief executive of Silicon Spice Inc., a start-up in the Voice-over-Internet product space.
In a related development, Sasken informed the Bombay Stock Exchange (BSE) that its chief operating officer (COO) Srikanth Kannakote had also left the company Dec 31.
Sasken, which reported net profit of Rs.140 million (Rs.14 crore) and revenue of Rs.1.85 billion (Rs.185 crore) for the third quarter (Q3) of this fiscal, played down the fallout of its telecom major Nortel filing for bankruptcy Jan 14.
"Nortel's contribution to our revenue for the third quarter was less than 10 percent. Though Nortel has filed for bankruptcy, its engagement with us will continue," the company had said in a statement last week.
The Canadian networking solutions vendor has about 10 percent of equity holding in Sasken.