Mumbai, Aug. 26 -- An independent director resigned from the board of IT hardware distribution company Rashi Peripherals Ltd, citing governance concerns, marking at least the second such instance this year in which an outgoing director voiced concerns in their resignation letter.

Former Bank of Baroda chairperson Anil Khandelwal resigned from the board of Rashi Peripherals on Monday after objecting to the company's professional engagement with firms associated with two of its independent directors.

Krishna Kumar Choudary, the company's chairperson, issued a clarification late on Tuesday evening denying any lapses in the company's governance practices.

Khandelwal's exit resembles that of Atanu Chakraborty, who resigned as the part-time ...