Banks, merger of banks
Avantha Group Promoter Gautam Thapar Arrested In Money Laundering Case https://www.ndtv.com/india-news/avantha-group-promoter-gautam-thapar-arrested-in-money-laundering-case-2502046 The ED has been probing an alleged transaction between his company Avantha Realty, Yes Bank co-founder Rana Kapoor and his wife, who are already being investigated under the PMLA by the agency. The (CBI) FIR alleges that Rana Kapoor, then MD and CEO of Yes Bank Limited, obtained illegal gratification in the form of a property in a prime location in Delhi at much less than the realisable market value belonging to Avantha Reality Ltd f
CEO’s Coterie: IndusInd’s High Flying High Risk Takers Reap Rich Rewards But Negligible Penalties https://hemindrahazari.com/2021/08/12/ceos-coterie-indusinds-high-flying-high-risk-takers-reap-rich-rewards-but-negligible-penalties/ 12 Aug 2021
In Indusind Bank, the scale of remuneration reveals how Ramaswamy Meyyappan (Chief Risk Officer) and the corporate credit team (initially led by Suhail Chander and subsequently by Roopa Satish) were handsomely rewarded (FY2017-FY2019) for doing high-risk, poor quality loans to companies like CG Middle East (US$ 40 mn in FY2018; the loan is being investigated by the Securities and Exchange Board of India), Sprit Infrapower (Rs 5 bn loan to unlisted company of founders of Zee media in FY2019) and IL&FS (Rs 20 bn bridge loan in FY2019).