Vikram Deswal Exits Monnet Ispat Board

Energy sector major Monnet Ispat and Energy Limited (MIEL) has announced the exit of its director, Vikram Deswal, from the company’s board. The company made the disclosure in its filing to National Stock Exchange (NSE).

“…Vikram Deswal, Director, has informed to the Company that his work and responsibilities in East Bridge Capital Management Ltd., Boston, USA where he is working, have grown significantly and he is unable to allocate appropriate time required for performing the duties as a Director in the Company and therefore, he relinquishes the office with immediate effect,” the company stated in its letter.

Deswal was a non-executive director at MIEL since May 2012 and also served as a director at Monnet Group. He had co-founded the advisory firm, East Bridge Capital Management Ltd, with Shakeeb Amal and had formed its wholly-owned subsidiary, East Bridge Capital Onshore Fund in 2011. The company is based out of Boston and invests in Indian capital markets.

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