Subrata Roy's brother resigns from Sahara Housingfina

Sahara Housingfina Corp promoter director Joy Broto Roy, brother of the group's jailed chief Subrata Roy, has resigned from the directorship of the company.

No reason was given for his resignation.

"Sahara Housingfina Corporation Ltd has informed BSE that Joy Broto Roy, Director (Promoter Director) has tendered his resignation from the directorship of the Company vide his letter dated March 09, 2015," the company said in a filing to Bombay Stock Exchange on Monday.

Sahara group entities control over 71 per cent of the listed company. The group has been trying to raise funds for months to secure release of its chief Subrata Roy, as also that of two other senior officials, from Tihar Jail in New Delhi, where they have been lodged for one year.

Earlier, the company had informed the exchange that Anshu Roy has been appointed as an additional director on the board of directors of the company with effect from February 13 to hold office as Non-executive Director (independent) till the date of the next Annual General Meeting of the company.

The company's shares closed at Rs 46.75 apiece at the BSE.