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IDBI Bank: IDBI Bank seeks ROC help over nominee director dispute with NTADCL

IDBI Bank has raised governance concerns over the exclusion of nominee directors from board meetings of New Tirupur Area Development Corporation Ltd (NTADCL) post-loan repayment. Despite provisions allowing their retention until all dues are settled, the directors were excluded, leading IDBI Bank to write to the Registrar of Companies (ROC). NTADCL, which underwent Corporate Debt Restructuring in 2011, excluded IDBI Bank and SBI s nominee directors, citing vacancy due to loan repayment. IDBI Bank seeks ROC s intervention to assert its right to retain Nominee Directors until all dues are cleared, citing clauses in the MRA, AoA, and Companies Act, 2013.

Religare shareholders reject two special resolutions

Byju Raveendran | I continue to remain CEO, it is business as usual: Byju Raveendran to employees

Raveendran said claims made by the “small group’’ of shareholders that they have unanimously passed the resolution in the EGM were completely wrong

'I Remain CEO, Rumours Of My Firing Exaggerated': Byju Raveendran Writes To Employees

Byju's was valued at USD 22 billion in 2022 and it is now valued at USD 200 million in a rights issue.

Byju Raveendran | Plea in Karnataka High Court after Byju's investors vote to oust founder, family from board

Shareholders who voted against CEO Byju Raveendran hold more than 60 per cent of the company, including Dutch investment firm Prosus, General Atlantic and Peak XV Partners