IDFC First Bank boss gifted his school teacher shares worth lakhs of rupees

Mumbai. IDFC First Bank Managing Director and CEO Vaidyanathan gave shares as a gift to Gurdayal Sarup Saini. In the first phase of his life, he offered shares without any value as a token of gratitude for the help of his teacher. Gurudayal Saini has been the teacher of Vaidyanathan. At that time, remembering the guidance of his Guru, he thought of giving something to the Guru as a gift and some shares without any money.

1 lakh equity shares transferred
V Vaidyanathan, MD & CEO, IDFC First Bank has transferred one lakh equity shares of IDFC First Bank in his personal capacity to his former school teacher

information to the exchange
has transferred one lakh equity shares of IDFC First Bank in his personal capacity to his former school teacher, the bank said in a note to the exchanges. In a message it has been clarified by Vaidyanathan that Sreesai is not a related party under the Companies Act and the recipient will pay tax as per the Tax Acts.

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Have already given them more than 4 lakh shares
Vaidyanathan is the founder of Capital First and it merged with IDFC Bank in December 2018 to become IDFC First Bank. When Vaidyanathan was with Capital First in 2018, he gave 4,30,000 shares to his family members, associates and maids. With this help, it is known that Vaidyanathan understands the difficulties of others very well and also tries to cooperate according to his ability.

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