Neotel’s CEO Sunil Joshi has resigned with immediate effect to “pursue his own interests”.
This comes after Joshi was placed on special leave while an investigation was conducted into allegations of misconduct pertaining to deals between Neotel and Homix.
“The placing of Mr Sunil Joshi on leave was a Board initiated process, whilst an investigation was being conducted into certain transactions involving Neotel and Homix,” the company said.
It noted that Joshi complied with the process.
“As a result of the investigation and with the information available to the Board relating to the Homix transaction, the Board has found nothing to date that implicates Mr Joshi personally in any bribery or corruption activities.”