Syntel Inc. (SYNT) announced that it has received a notice of deficiency from the Nasdaq Stock Market. The non-compliance is the result of Vasant Raval's resignation from Syntel's Board. The company is no longer in compliance with NASDAQ Listing Rule, which requires its Board to be comprised of a majority of independent directors.
Syntel's Board presently has six members, including three independent directors.
Syntel stated that it plans to identify another independent director for appointment to its Board prior to the expiration of the NASDAQ deadline on August 29, 2010.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.