Independent Director Vivek Dave resigns from Eraaya Lifespaces, citing fraud allegations against promoter Vikas Garg, governance failures, and a suppressed shareholder notice.
A shareholder notice alleges fraudulent misrepresentation in FCCB and QIP issuances, non-disclosure of criminal cases against Garg, and an illegal board constitution.
Dave's resignation letter details the board's failure to investigate and his resignation under threat of removal, addressed to regulators and stock exchanges.