The unwanted pregnancy

Venkatachari Jagannathan
11 March 2004

The shareholders meeting is considered to be as unwelcome as an unwanted pregnancy though all the warring factions have to undergo the pain.

The reason being that one faction is bound to come into power with all the others gathered around in opposition. This could lead to disruptions in the bank's direction in future at a time when focus is the dire need. All these days the factions worked together by jointly exercising remote control, but this will go for a toss.

The bank has received more than 51 nominations for directorships filed by different Nadar factions. The number of vacancies is just 10.

Whichever faction comes to power in TMB, it will not be comfortable with the bank's current chairman and chief executive officer R Natarajan. Not long ago all the warring groups in unison tried to send him out but didn''t succeed. 

As a matter of fact it was this move that has brought some clarity and crystallisation in the TMB imbroglio.

One view is that with Natarajan being an outsider and unattached to any of the Nadar faction will be a plus point to allow him to continue till the expiry of his term this September.