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Summary Amitabh Bachchan has resigned from the board of Energy Development Company Limited.
Bachchan is a shareholder in the company which is run and promoted by Indian politician Amar Singh.In a regulatory filing, Energy Development Company Ltd (EDCL) said Bachchan has resigned as its independent director and its board in a meeting held on Monday accepted the resignation.EDCL also said that its Executive Chairman Amar Singh has expressed his inability to continue in the executive position and would become its non-executive Chairman from next month.Singhs current term as Executive Chairman will end on July 31 and he has expressed his desire to discontinue his executive role due to ‘time constraints’, the company said.Bachchan and Singh, who were close for a long time, parted ways over a year ago.In another board-level change at his company EDCL, industrialist Harshvadhan Neotia has also resigned from the board as independent director and the same has been accepted. The UP Electricity Regulator Commissions former Chairman Vijoy Kumar has been appointed as an independent additional director.Bachchan has previously held one million shares in the company, whose share valued Rs 34.15 each.
