DB Realty Names Vinod Goenka as Executive Chairman and MD

DB Realty Ltd. said it has named Vinod Goenka as executive chairman and managing director, and Shahid Balwa as vice chairman and managing director from Saturday, weeks after they were granted bail on charges over telecom licences.

Balwa, Goenka and DB Realty are among the fourteen individuals and 3 companies charged over a 2007/08 grant of telecoms licences which a state auditor said cost the government up to $39 billion in revenue.

All accused in the telecom case have denied any wrongdoing.