Beleaguered businessman Vijay Mallya has resigned from the board of Bayer CropScience, the company informed the BSE in a notification on Tuesday. Bayer CropScience had given Mallya three months' time in May to resolve his debt issues with Kingfisher Airlines' lenders. In the notification, the company said that Mallya had resigned from the board of Bayer CropScience as the Non-Executive Independent Director with effect from June 30, 2016. The decision came after Bayer CropScience's board meeting on May 13 that Mallya had attended via video conference. Now, the ED is also pushing for a Red Corner Notice to Vijay Mallya, saying that it is 'obligatory', since it has followed all the legal procedures to get a Red Corner Notice.

Source: dna June 21, 2016 09:33 UTC