Indiabulls Real Estate Managing Director Mehul Johnson Resigns

Indiabulls Real Estate Ltd. said its Managing Director Mehul Johnson resigned, effective today, citing personal reasons and existing commitments.

Johnson, however, will continue as a non-executive, non-independent director of the Company until 31 March for smooth transition of his responsibilities, the developer said in a stock exchange announcement.

Indiabulls Real Estate said its board appointed President Sachin Chittaranjan Shah as an additional director, designated as executive director, of the company, in place of Johnson. The appointment is for five years with effect from today, it added.

Shah, who joined the company in October 2021, has an experience of 20 years with real estate industry, according to the statement.

The board also appointed Shyamm Mariwala, Javed Faizullah Tapia and Tarana Suresh Lalwani as additional independent directors, effective today, for three years.

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