Union Minister of State for External Affairs Shashi Tharoor has resigned. President Pratibha Devisingh Patil accepted the resignation from the Council of Ministers on the recommendation of Prime Minister Manmohan Singh. <br/><br/>The resignation of Tharoor was sent to the President in Pune where she is on an official visit.<br/><br/>AIR correspondent reports that the resignation came after a marathon discussion of Congress leadership including Prime Minister Dr. Manmohan Singh and the Congress President Mrs. Sonia Gandhi last evening. <br/><br/>Opposition hailed Shashi Tharoor's resignation as Union Minister. BJP spokesperson Nirmala Sitharaman said his position had become "untenable" in the wake of the Kochi IPL ownership controversy. <br/> <br/>CPI leader D Raja said that the exit of Mr Tharoor became inevitable and Congress should have taken a decision long back when the controversy exploded. <br/><br/>Congress Spokesperson Jayanti Natarajan said the party has nothing to do with the IPL. It was an issue of an individual minister.<br/><br/>In a releted development, one of the stakeholders of the Kochi IPL franchise, Sunanda Pushkar quit Rendezvous Sports World which is a stakeholder in IPL Kochi after she decided to return her free equity worth Rs 70 crore to the franchise. <br/><br/>The 48-year-old business executive, based in Dubai, decided to disassociate from the franchise in the wake of allegations that Mr Tharoor had misused his office to secure the bonanza for Sunanda.<br/><br/>Rendezvous is understood to have accepted her resignation. Sunanda's decision to quit came after her dramatic announcement that she was voluntarily surrendering her equity to IPL Kochi.