All the 14 candidates for directorship of The Zoroastrian Co-operative Bank Limited (ZCB) were elected unopposed. While software entrepreneur Yazdi Tantra was elected chairman of the board of directors, corporate director Phillie Karkaria was chosen as vice chairman, both on March 30, 2021. A chartered accountant and information technology specialist, Tantra has been on the board of the Bank since 2005, stated a communication posted on the Bank’s website. As vice chairman, he led the information technology committee for ZCB and has "spearheaded the technological upgradation of various processes in the Bank,” noted the site. Tantra is also global vice president of the World Zarathushti Chamber of Commerce.
From left: Yazdi Tantra, Phillie Karkaria and Homai Daruwalla
A fellow of the Chartered Institute of Management Accountants, London, Karkaria has been a ZCB director since 2014, with a stint as head of the audit committee of the previous board, stated the website. He is a director/additional director in seven companies in logistics, leisure and hospitality, including two in the Tata Group.
"The new board of directors led by Tantra is taking over the reins of the Bank at a time when the economy has been significantly impacted by the Covid-19 pandemic,” the announcement noted. The Bank would continue to pursue sustainable growth, high levels of corporate governance, customer centricity and safety of the interest of its members.”
Besides Tantra and Karkaria, the other directors are Homai Daruwalla, Shernaz Mehta, Saroosh Dinshaw, Dr Firdos Shroff, Manek Kalyaniwalla, Aspi Kathawalla, Bakhtyar Saklatwala, Hormazdiyaar Vakil, Noshir Paghdiwalla, Viraf Mehta, Zubin Billimoria and Smita Tambe.
Outgoing chairperson Daruwalla stated in the Jam-e-Jamshed Weekly of April 18, "I stand committed to continue offering my services to Zoroastrian Bank in my capacity as a member of the board of directors and contributing my mite in future programs of the Bank… Let us not forget that ZCB is no longer a community bank, but caters to a vast strata of society with various needs. I am sure that the newly elected board of directors, in their infinite wisdom, will initiate measures to steer the ship towards placid waters and help most of our constituents to overcome the constraints they face during these trying times.” Farrokh Jijina