J&K govt withdraws nomination of Zubair Iqbal as director from BOD of J&K Bank

Jammu & Kashmir government has withdrawn nomination of Zubair Iqbal as director from the Board of Directors of Jammu & Kashmir Bank.

“Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we wish to intimate that Mr. Zubair Iqbal , Govt. nominee Director (DIN:08742685) has ceased to be the Director of the Board of Bank consequent upon withdrawal of his nomination by the Government of Jammu & Kashmir,” reads an official document.

This information was submitted by Muhammad Shafi Mir, company secretary, J&K Bank to National Stock Exchange of India Limited and BSE Limited.

Zubair Iqbal was nominated as the first managing director of J&K Bank in May last year but his appointment was not cleared by the Reserve Bank of India.

He was nominated as the first managing Director of J&K Bank after a rigorous process of selection overseen by a high- level three-member committee under chairmanship of Tapan Ray, ex -Union Corporate Affairs Secretary, Arun Kumar Mehta, Financial Commissioner, Anand Madhukar, Officer on Special Duty, Department of Financial Services, Ministry of Finance, Government of India.