Khetarpaul quits over Udeshi elevation to DG
Mumbai: Reserve Bank of India (RBI) executive director KL Khetarpaul has resigned on Tuesday in the wake of the promotion of KJ Udeshi to the position of deputy governor (DG) of the apex bank, superceding his seniority. "Khetarpaul has retired,” was the response from his office. Responding to a query on when he had resigned, was told: “He had taken voluntary retirement yesterday (Tuesday) and demitted office the same evening.” According to sources, Khetarpaul, who was senior to Udeshi by ranking, had one month of service left and was set to retire at the end of July. Udeshi was supposed to attain superannuation the next month, that is in August. If one had to go by seniority Khetarpaul could have been elevated to the DG’s position, sources added. Udeshi has succeeded GP Muniappan, who retired on May 31.
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Ex-CSE President remanded to police custody till June 20
Kolkata: The Chief Metropolitan Magistrate (CMM), Kolkata on Wednesday remanded Kamal Parekh, former President of Calcutta Stock Exchange (CSE), to police custody till June 20. Kolkata Police arrested Parekh on June 10 in connection with the Rs 120-crore share scam of CSE, on a complaint made by CSE under Section 120B and 420 of IPC. The police had arrested many stockbrokers of Kolkata and Mumbai. All accused apprehended earlier are now on bail. The arrest of Parekh gives a new complexion to the investigation of the CSE share scam.
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Lazard CEO, two top executives quit
Mumbai: Three senior executives, including the CEO, of investment adviser, Lazard India, have resigned from the company, apparently to pursue individual goals. The investment banker is one of the top advisers to the Government on its disinvestment process. Lazard is helping the Government sell Shipping Corporation of India and had advised it in the sale of ITDC hotels.
In a release on Wednesday, Lazard said that the CEO, Ashish Guha, and managing directors, Sanjay Sakhuja and Amit Mukherjee, "have advised that they wish to pursue their individual goals. This will become effective June 30". Guha was the chief adviser to the Government in the ITDC hotels sale.
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