Subrata Roy quits Sahara Housingfina board

Subrata Roy, promoter-director of Sahara GroupSubrata Roy, promoter-director of Sahara Group firm Sahara Housingfina Corporation Ltd (SHCL), has resigned from its board, the company said in a stock market filing on Monday.

Sahara Housingfina Corporation, is engaged in the business of providing home loans ranging from Rs1 lakh to Rs1 crore, according to the company's web site.

The company did not provide any reasons for the sudden resignation of Subrata Roy as promoter-director of SHCL.

"Subrata Roy Sahara, director has tendered his resignation from the directorship of the company vide his letter dated June 17, 2011," Sahara Housingfina Corporation Ltd said in a filing with the Bombay Stock Exchange (BSE).

Roy, who holds 42.86-per cent stake in Sahara Housingfina is named as non-executive promoter of the company on the company's web site.

Roy has previously served as chairman of the company.