Srinivasan steps down from ICCL

New Delhi: In a bid to keep his cricketing bid afloat, N Srinivasan resigned from the board of financial services firm, ICCL, a part of India Cements group.

In a BSE filing, India Cements Capital Ltd (ICCL) said: “N Srinivasan and T S Raghupathy have resigned as directors of the company with effect from March 30, 2015.”

According to ICCL’s website, it is part of Chennai-based business house of India Cements with Srinivasan serving as the Chairman. Srinivasan is also the Managing Director of India Cements, as per website.

ICCL provides various financial services such as money changing services, advisory services on the forex market to exporters and importers.

ICCL’s subsidiary India Cements Investment Services is engaged in share broking activities. The company deals in cash market and futures and options among others.

Srinivasan is also a promoter in the firm and hold 0.10% stake as of March.

ICCL shares closed flat at Rs 4.05 apiece on the BSE on Saturday.


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