KOZHIKODE: The Board of Directors of the Kerala State Minorities Development Finance Corporation (KSMDFC) on Monday accepted K T Adeeb’s request to resign from the post of general manager and return to the parent firm South Indian Bank.
The board, at its meeting held here on Monday, decided to forward the request to the state government to take a final call. Adeeb, a close relative of higher education and minorities minister K T Jaleel, was drawn into a controversy after opposition alleged nepotism in his appointment. They also alleged he did not possess the adequate qualification for the job.
KSMDFC managing director V K Akbar said Adeeb resigned on moral ground after the charges of nepotism in his appointment was examined by the board meet attended by chairman A P Abdul Vahab. “As per Adeeb’s request, we found that there was no technical issue for permitting him to return his parent firm. However, the final decision should be taken by the government. Hence, the request will be forwarded to the government,” he added.
Adeeb offered to step down from the post on Sunday. In a letter to the board, he said he has decided to resign as the nepotism controversy had undermined his dignity.