Monday, April 25, 2011

Company law board response for cHindu succession battle

To all interested in the details of the succession battle held last year for cHindu. This is the Company Law Board response for the petition of N.Murali and N.Ravi over LiC and minions.
It reinstates N.Murali to Managing Director till August 2011 when he will step down. It will be interesting to see if LiC follows suit.
I thereby set aside the decision taken by the board of directors on 20.03.2010 to the extent it reallocates the functions of the Senior Managing Director and direct that the position prior to 20.03.2010 shall be restored as far as allocation of departments concerning the 2nd petitioner is concerned.

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