SBI’s massive restructuring of standard loans are finally coming home to roost with a vengeance.
Although Roopa Kudva quit the bank transparency body in July 2017, there has been no public intimation of this development.
The decision to nominate BJP workers as non-official directors makes a mockery of the party’s 1998 manifesto and the government’s own guidelines issued in 2015.
The display of such largesse should be a troubling signal for shareholders who worry about corporate governance.
In an e-mail sent out on Sunday evening, Murthy reiterates that the company he once founded still has corporate governance issues.
Contrary to public opinion, the Docomo dispute had much back-seat driving from Ratan Tata and the Tata Trusts.
When the RBI signed off on demonetisation, its central board had the lowest number of directors in 15 years and only three truly independent directors.
The statement put out after the meeting backed Cyrus Mistry but it did not go as far as previous statements put out by the independent directors of Indian Hotels or even Tata Chemicals.
While the Tata Group says that independent directors should ensure that future of group companies are protected, Mistry says he built a corporate governance framework that balanced minority shareholder rights.