Amul Dairy's MD K Rathnam has resigned. His resignation was accepted in a board meeting, the milk cooperative's chairman Ramsinh Parmar said. Rathnam's resignation has come amid allegations of a Rs 450-crore corruption in allocation of tenders and recruitment at the dairy. However, Parmar refuted the charges, and also said Rathnam stepped down not over these allegations, but because of family reasons. A statement issued by the Amul Dairy said Jayen Mehta, senior general manager (planning and marketing), has been appointed the in-charge MD of Kaira Milk Union. The KDCMPUL is one of the 18 District Co-operative Milk Producers' Unions federated to the Gujarat Co-operative Milk Marketing Federation Limited, Anand, which markets milk and milk products under the "Amul" and "Sagar" brand. Rathnam (55) told reporters that he resigned as he wanted to spend time with family living in Tamil Nadu and the United States. "I have been thinking of resigning for some time now." "I have worked for Amul for 22 years, and want to do something for myself in the next 10-15 years. I want to spend time with family members residing in the US and Tamil Nadu," he said. Parmar said that Ratnam served as the MD for four years and had been speaking about wanting to spend time with his wife and daughter who live in the US. "Considering all this, I told him I have no objection if he wants to quit," said Parmar. "Parmar has informed that this (reports in a section of the media that Rathnam resigned as he has been found guilty of fraud) is far from the truth and has been perpetuated by rumor-mongers," the statement said.