From correspondents in Delhi, India, 03:21 PM IST

Parsvnath Developers Ltd. announces appointment ofIndependent Director for its Retail wingNew Delhi, August 11, 2008: Parsvnath Retail Limited a subsidiary of Parsvnath Developers Limited (PDL), India’s leading company in real estate and infrastructure development with keen interest in retail sector has announced the appointment of Mr. R.J. Kamath as Independent Director for its board of directors.Mr. Kamath, an eminent professional and former Chairman of the Andhra Bank and Canara Bank, with vast experience and expertise in finance, banking, legal and corporate management has been associated with Parsvnath Developers Limited as an Independent Director.

Having substantial experience in the industry he brings with him industry perspective and a great deal of practical knowledge to Parsvnath Retail Limited. “We are committed to having independent directors and a good corporate governance framework for our subsidiaries that reflect today’s best practices,” said Mr. Pradeep Jain, Chairman, Parsvnath Developers Limited. “In Mr. Kamath, we have highly respected independent director and management expert whose strengths and skills complement those of our existing team members in providing valuable oversight and direction to the strategy, operations and management of Parsvnath Retail Limited”, added Mr. JainIn addition to his general corporate experience, Mr. Kamath was chosen for other specific strengths and rich experience consistent with Parsvnath’s national presence

Source: Press Release Distribution via India PRwire