Parekh says Kampani, Shroff being treated unfairly
Kampani and Shroff were independent directors on the Board of Nagarjuna Finance and they resigned, "but they are still being hounded", Parekh said.
By PTI |
MUMBAI: HDFC Chairman Deepak Parekh today threw his weight behind investment banker Nimesh Kampani and Minoo Shroff, saying they were being hounded for no apparent fault of theirs and if this continues no one would be willing to take up responsibility of independent director.
"The way Nimesh Kampani and Minoo Shroff have been treated is unfair and when the Satyam Board members met the Prime Minister recently, this matter was discussed with him (Manmohan Singh)," Parekh told PTI here today.
Kampani and Shroff were independent directors on the Board of Nagarjuna Finance and they resigned, "but they are still being hounded", Parekh said.
"More than 200 independent directors have resigned and if they are treated in this manner, very few will be willing to take up such a responsibility. Already, very few are willing," Parekh said.
Earlier on May 4, the Supreme Court had dismissed the bail plea of Kampani. The SC had refused to give immediate relief to Kampani, who had sought anticipatory bail in the Nagarjuna Finance scam case.
Kampani and other executives of Hyderabad-based Nagarjuna Finance (NFL), a non-banking financial company, are under investigation for the firm's alleged failure to return around Rs 98.3 crore collected from 85,160 depositors in 1997-98.
Parekh further said that he would take up the matter with the Minister of Corporate Affairs.
"The way Nimesh Kampani and Minoo Shroff have been treated is unfair and when the Satyam Board members met the Prime Minister recently, this matter was discussed with him (Manmohan Singh)," Parekh told PTI here today.
Kampani and Shroff were independent directors on the Board of Nagarjuna Finance and they resigned, "but they are still being hounded", Parekh said.
"More than 200 independent directors have resigned and if they are treated in this manner, very few will be willing to take up such a responsibility. Already, very few are willing," Parekh said.
Earlier on May 4, the Supreme Court had dismissed the bail plea of Kampani. The SC had refused to give immediate relief to Kampani, who had sought anticipatory bail in the Nagarjuna Finance scam case.
Kampani and other executives of Hyderabad-based Nagarjuna Finance (NFL), a non-banking financial company, are under investigation for the firm's alleged failure to return around Rs 98.3 crore collected from 85,160 depositors in 1997-98.
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Parekh further said that he would take up the matter with the Minister of Corporate Affairs.
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