SC quashes plea, Nimesh Kampani likely to be arrested: My thoughts...

All,

I feel the Independent Directors should have Ombudsman system for all the issues related Independent Directors - Corporate issues.

If such a RICH and well connected, Established man only can't escape.. think of Poor Independent Directors.

I would like all to formally send an request to Govt & MCA to work towards this Ombudsman System for Independent Directors ( ID) and Directors.

This is perhaps right time to set the Stage for the good Frame work and Governing body for ID's.

Lastly we need to put this request Sri. Madhav Mehra to consider and actively Pursue at his level.

Many Thanks for your time and response

Balaji K
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SC quashes plea, Nimesh Kampani likely to be arrested:

http://ibnlive.in.com/news/sc-quashes-plea-nimesh-kampani-likely-to-be-arrested/90152-7.html
New Delhi: Dalal Street whiz Nimesh Kampani is facing arrest after the Supreme Court on Monday refused to stop criminal proceedings against him in the Nagarjuna Finance scam case.
The bench headed by Justice Altamas Kabir, however, allowed Kampani to seek anticipatory bail.
The Mumbai-based investment banker and other executives of the Hyderabad-based non-banking financial company are under investigation for the firm's alleged failure to return around Rs 98.3 crore collected from 85,160 depositors in 1997-98.
They are wanted by the Andhra Pradesh Police in the Nagarjuna Finance scam case.
Kampani was an independent director of the company from 1989 to 1999. Kampani was reportedly hiding in Dubai for a while and moved the Supreme Court in March.
Kampani's personal wealth is valued at $1.3 billion according to
Forbes Magazine. According to same magazine, he is the 42nd richest Indian and 897th richest man in the world.
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