KEC International, a RPG Group infrastructure EPC major, announced that M K Sharma who was an independent director on the board of directors of the company has resigned from the directorship of the company with effect from Mar. 31, 2014.

The reason for his resignation is that as per the provisions of Section 165 of the Companies Act, 2013, a person cannot hold the directorship in more than 10 public companies at a time and also in terms of the proposed amendment to the listing agreement pursuant to which an independent director cannot hold directorship in more than seven listed companies.

Shares of the company gained Rs 1.55, or 2.29%, to trade at Rs 69.25. The total volume of shares traded was 204,558 at the BSE (11.40 a.m., Tuesday).