Suits & Sayings: Digging Deep

After talk of conflict of interest involving a senior executive at this storied conglomerate, the apex board of directors ordered a probe to get to the bottom of things, right after the group chairman returned from an overseas trip. The findings of the inquiry centred around the exec and his kin soliciting funds from external clients and colleagues, besides taking corporate social responsibility (CSR) contributions from a group company to be invested via his family firm. These would typically count as violations of the group’s code of conduct and disclosure norms. The report however concludes there was no malafide intent. That’s sparked speculation over whether the board heavyweights and top leaders will accept the report or if different strokes will apply for different folks?After talk of conflict of interest involving a senior executive at this storied conglomerate, the apex board of directors ordered a probe to get to the bottom of things, right after the group chairman returned from an overseas trip. The findings of the inquiry centred around the exec and his kin soliciting funds from external clients and colleagues, besides taking corporate social responsibility (CSR) contributions from a group company to be invested via his family firm. These would typically count as violations of the group’s code of conduct and disclosure norms. The report however concludes there was no malafide intent. That’s sparked speculation over whether the board heavyweights and top leaders will accept the report or if different strokes will apply for different folks?

(For more on our weekly roundup of wackiest whispers and murmurs in corporate corridors & policy parlours, pick up today's edition of The Economic Times newspaper)