HC relief to Azim Premji, wife
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They were accused of violating the Companies Act, 2013
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They were accused of violating the Companies Act, 2013
In a relief to Azim H. Premji, former Chairman and Managing Director of Wipro, and his wife, the Karnataka High Court has set aside an order passed by a city civil and sessions court for restoration of a private complaint for allegedly not disclosing information of a company of which they were directors in violation of Companies Act, 2013.
Also, the court upheld dismissal of another private complaint against them for allegedly violating a provision of the Reserve Bank of India Act, 1934, in relation to operation of non-banking finance companies sans registration.
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Azim Premji heaves a sigh of relief Supreme Court stays criminal proceedings against the Wipro founder for siphoning off crores
Azim Premji heaves a sigh of relief Supreme Court stays criminal proceedings against the Wipro founder for siphoning off crores
Prabhjote GillDec 18, 2020, 17:51 IST
Indian billionaire and Wipro founder Azim PremjiBCCL
The Indian
Indian billionaire Azim Premji that were supposed to kick off tomorrow, on December 19.
Premji and four others have been accused of financial fraud and siphoning of funds to the tune of over ₹13,000 crore by the Indian Awake for Transparency NGO.
According to Premji, the complaints are motivated by personal vendetta under R. Subramanian who is using the NGO as a corporate façade to file frivolous litigation.