Viom Networks' chairman Subodh Bhargava resigns

Subodh Bhargava, chairman, Viom Networks has resigned, citing personal reasons, a decision that comes four months after KPMG was hired by the telecom tower firm to look into allegations of financial irregularities.

However, the resignation sparked speculation that it could be related to an ongoing legal tussle between the company's owners and the former official, who had raised allegations of siphoning of funds.

''I have now decided to step down and have informed the board. Now, they will have to take a call,'' Subodh Bhargava said. Bhargava resigned on 1 February 2012.

This is the second top management exit from the company in recent months after its chief executive Arun Kapur quit late last year. 

Viom is a joint venture between Tata Teleservices and the Kanoria family-promoted Quippo, a SREI Group Enterprise. Tata group holds a 54-per cent stake in Viom, while SREI group - which has management control of the company - and a clutch of private equity funds own the remaining.

Bhargava is also on the board of telecommunication services provider and Tata group firm Tata Communications.