IDFC First Bank Chief Gifts Shares To Driver, Other Support Staff
NDTV
IDFC First Bank Managing Director and Chief Executive Officer V Vaidyanathan has gifted nine lakh shares to five persons including his driver and support staff.
New Delhi: IDFC First Bank Managing Director and Chief Executive Officer V Vaidyanathan has gifted nine lakh shares to five persons including his driver and support staff. In a notification released on Monday, the lender stated that Mr Vaidyanathan has given three lakh shares to his trainer; two lakh shares each to househelp, driver; and one lakh shares each to office support staff, other househelp.
"It is declared that the recipients are personal relationships and not related to him (Mr Vaidyanathan) in any manner under the definition of related parties of the Companies Act or SEBI Regulations," the notification added.
The purpose of the philanthropic gesture has been mentioned by the bank as "Gift to purchase house".
In addition, Rukmani Social Welfare Trust has donated two lakh equity shares to support social activities, IDFC First said.
