Parekh steps down from HDFC

Housing Development Finance Corporation (HDFC) announced that Deepak S Parekh, chairman and chief executive officer of the corporation, has decided to step down from his executive position with effect from the close of business hours on Dec. 31, 2009.

Parekh has served the company for 31 years of which 16 years were as chairman.

The board approved the aforesaid matter at its meeting held on Dec. 4, 2009.

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