Satyam said Friday that independent director Mangalam Srinivasan had resigned from the company's board, The company did not provide a reason.

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Kumar Mangalam Birla, 30, became chairman of nine companies in the Aditya Birla group, India's second-largest industrial house, after his father died in late 1995.

CNN: Recasting the Mind

When Kumar Mangalam Birla, chairman of Aditya Birla Group, mooted the idea four years ago of acquiring U.S.- headquartered Novelis, the world's biggest producer of rolled aluminum, key executives at his commodities conglomerate shot it down as too risky.

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Billionaire Anil Agarwal, who owns 54% of U.K.-listed Vedanta and serves as its chairman, pipped Lakshmi Mittal and Kumar Mangalam Birla of the Aditya Birla Group to acquire Sesa Goa, which was founded in 1954 and is based in the western Indian state of Goa.

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