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Narayana Murthy to retire as executive chairman in August 2006
Bangalore: N R Narayana Murthy, Infosys Technologies' founder and chief mentor, will retire as executive chairman of the company in August 2006, according to Nandan Nilekani, the company's chief executive officer and managing director.

It is not known whether Murthy would continue as chief mentor of the company after his retirement.

Murthy had earlier gone on record saying that he would step down as chairman of Infosys in August 2006, when he turns 60 as per the company's policy.
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Amul VP arrested for cheating
Ahmedabad: The vice chairman of Amul has been arrested on charges of cheating the Petlad Mahila Utkarsh Credit Society (PMUCS) of Rs83 lakh, according to the local police.

Patel was arrested by the Petlad police in Anand district on the basis of a complaint filed by DB Sisodia, administrator of PMUCS, which alleged that Patel in alleged connivance with his wife, had issued loans to the tune of Rs73 lakh to her relatives, sons and close friends, despite their not being eligible for it.
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