Amul MD hands in papers due to ‘family reasons’, admist fraud allegations

K Rathnam, the managing director of Amul has resigned from his post, stating family reasons as the motive. He handed in his resignation which was accepted at a board meeting on Saturday. This comes amidst charges of fraud worth Rs. 450cr, however, these have been dismissed by the Chairman of the cooperative. Rathnam states he worked with Amul for 22 years and wants to spend time with his family in the US.