Lakshminarayan resigns from IDBI MF
Mumbai: C.K. Lakshminarayan, managing director, IDBI Mutual Fund, is
leaving the fund and is said to be joining CMS Energy in Chennai. Mr Lakshminarayan has
been instrumental in helping the organisation to develop a corporate governance code. He
was brought to the mutual fund wing in order to facilitate the entry of Principal group of
the UK into the company as a strategic partner.
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Review index pageRajendra replaces Srinivasan in Prudential
Calcutta: K. Rajendra is assuming charge of the southern operations of
Prudential ICICI Asset Management Company. He replaces A. Srinivasan, who has left the
company. Mr Rajendra will also look after the operations of the company in Calcutta and
some of the cities in the eastern region.
Prudential ICICI's operations in the western and northern
regions have been entrusted to Pankaj Razdan.
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Court sets aside bank
CEO's appointment
Chennai: The Madras high court has set aside the reappointment of S.
Srinivasan as chairman and chief executive officer of Bharat Overseas Bank on the ground
that he is not eligible for the post. The court allowed writ petitions challenging the
appointment of Mr Srinivasan and held that the Reserve Bank of India by its arbitrary
exercise of power had given a go-by to all norms and procedures by selecting a candidate
not even eligible to be considered for the post.
The appointment was challenged by All India BOB Employees
Union, All India Bank Officers Confederation and National Confederation of Bank Employees.
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