Khattar re-appointed MD of Maruti Udyog Ltd.
New Delhi: The board of directors of Maruti Udyog Ltd has decided to re-appoint Jagdish Khattar, 62, as Managing Director for a period of three years or till he attains the age of 65, whichever is earlier.

Khattar's existing term is due to end on May 29, 2005.
Khattar had taken over the reins of Maruti Udyog in 1999 when the company was feeling the heat of competition from global car majors.

One of his biggest achievements has been Maruti's successful entry into new service businesses, including car finance, car insurance and sale and purchase of pre-owned cars, which have created new revenue streams for the company's dealerships.

Khattar is also currently President of the Society of Indian Automobile Manufacturers (SIAM).

The next couple of years would be strategically important for Maruti with the company, along with its parent Suzuki Motor Corporation, making an investment of Rs3,271.9 crore for developing a new car manufacturing plant and new engine and transmission plant in Haryana.
Back to News Review index page  

R.K. Jain appointed as Director (Tech) at NTPC
New Delhi: R.K. Jain has been appointed Director (Technical) of National Thermal Power Corporation Ltd.

Prior to taking charge as the Director (Technical), he was the Executive Director (NCR), an NTPC release has said.

Jain joined the power company in 1977 and has served in various capacities in the consultancy and joint venture division, contracts and materials department, the release said.
Back to News Review index page  

IDBI chief VP Shetty in 'casteist' imbroglio
Mumbai: The Chairman of the Industrial Development Bank of India, V.P. Shetty, was arrested under the Protection of Civil Rights Act, 1955, Section 7 (1) D, by the Mumbai police. He was released soon, on a bond of Rs10,000.

Shetty was arrested on the orders of the High Court in a case filed by IDBI General Manager B.W. Ramteke for allegedly passing casteist remarks.

Earlier in the day, a division bench of Justice R.M.S. Khandeparkar and Justice P.V. Kakade of the Mumbai High Court had quashed the charge under The Scheduled Castes and The Scheduled Tribes (Prevention Of Atrocities) Act, 1989 Section 3 (1) (10), saying the alleged offence took place within the Chairman's chamber and not in public view.

The ruling came following an application filed by Shetty seeking quashing of a FIR filed against him by Ramteke at the Cuffe Parade police station in Mumbai.

Ramteke, who also works as Chief Liaison Officer for Schedule Castes/Schedule Tribes (SC/ST) with IDBI, in his FIR, said he had requested the IDBI chief to calculate the fresh SC/ST backlog in view of the merger of IDBI Bank and IDBI Ltd.

This suggestion was made to ensure due compliance of the Government's reservation policy and make available benefits to the backward class employees, the complaint said. Ramteke charged Shetty with making casteist remarks, thus insulting and humiliating him.

According to a release from IDBI Ltd, Shetty had said that he was wrongly accused of passing casteist remarks.
Back to News Review index page