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New Delhi, The Supreme Court on Monday declined to entertain a petition by <keyword id="45875" type="PERSON" weightage="20" keywordseo="Chanda-Kochhar">Chanda Kochhar</keyword> challenging her <keyword id="169876" type="PERSON" weightage="20" keywordseo="termination">termination</keyword> as MD &amp; CEO of ICICI Bank, and also a decision to deny her bonus. A bench headed by <keyword id="706386" type="ORGANIZATION" weightage="20" keywordseo="Justice-Sanjay-Kishan-Kaul">Justice Sanjay Kishan Kaul</keyword> upheld <keyword id="1201797" type="COMPANY" weightage="20" keywordseo="The-Bombay-High-Court">the Bombay High Court</keyword> order stating that her writ is not maintainable since the nature of dispute is contractual and it is also private in nature. <keyword id="3461531" type="PERSON" weightage="20" keywordseo="justice-kaul">Justice Kaul</keyword> told <keyword id="9392194" type="UNKNOWN" weightage="20" keywordseo="senior-advocate-mukul-rohatgi">senior advocate Mukul Rohatgi</keyword>, appearing for Kochhar, "We are not inclined to interfere in impugned order. This falls within the realm of private contract between bank and employee..... We cannot interfere." Kochhar filed an appeal against the order of the Bombay High Court which dismissed her petition challenging her termination last year. Rohatgi submitted before the bench that it was not open to the bank to take total action against his client and virtually recalled her retirement. "The question of maintainability (of the petition) has to be examined", argued Rohatgi. He added that termination is invalid as it was done without the prior approval of the RBI. Rohatgi submitted they have converted my resignation to termination. He added "Whether the termination can be done without approving the resignation is a question?" Justice Kaul replied that the RBI in its wisdom had given its approval. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/kunal-shah-cred-raises-80-million-valuation-doubles-to-800-million-for-the-just-two-year-old-startup/articleshow/79502864.cms">Kunal Shah’s CRED raises $80 million – valuation doubles to $800 million for the just two-year old startup</a> <a href="https://www.businessinsider.in/science/space/news/new-technology-to-create-fuel-and-oxygen-on-mars-could-help-humans-explore-the-deep-sea-here-on-earth/articleshow/79504876.cms">New technology to create fuel and oxygen on Mars could help humans explore the deep sea here on Earth</a>

Supreme Court rejects Chanda Kochhar's plea challenging termination as ICICI Bank's MD, CEO

<keyword id="5067243" type="General" weightage="50" keywordseo="american-express-banking-corp" source="Orion">American Express Banking Corp</keyword> (AEBC) on Monday announced the appointment of <keyword id="221202" type="General" weightage="80" keywordseo="sanjay-khanna" source="Orion">Sanjay Khanna</keyword> as the Chief Executive Officer (CEO) and Country Manager of AEBC Corp <keyword id="3658" type="General" weightage="50" keywordseo="india" source="Orion">India</keyword>. <keyword id="1983" type="General" weightage="80" keywordseo="khanna" source="Orion">Khanna</keyword> heads the country executive team and is responsible for driving growth across the organisation's consumer and commercial businesses. In his new role, Khanna will also spearhead several strategic and business development initiatives for the company while steering smooth collaboration across its diverse businesses in India. His position will be key to advancing and strengthening the company's strategic focus in India. Speaking on the appointment, Rob McClean, Executive Vice President, International Card Services, <keyword id="91294" type="General" weightage="80" keywordseo="american-express" source="Orion">American Express</keyword>, said, "I am pleased to welcome <keyword id="419" type="General" weightage="100" keywordseo="sanjay" source="Orion">Sanjay</keyword> to this new role. With over 30 years of experience in the industry, Sanjay has exceptional credentials of delivering strong results coupled with a natural knack for leading from the front. We are confident that his commitment to excel in everything he does, his strong values and work ethics will further the brand's leadership in the Indian market." SEE ALSO : <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/rupee-rises-28-paise-to-79-25-against-us-dollar-in-early-trade/articleshow/94168701.cms">Rupee rises 28 paise to 79.25 against US dollar in early trade</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/mukul-rohatgi-to-return-as-attorney-general/articleshow/94166087.cms">Mukul Rohatgi to return as Attorney General</a>

Sanjay Khanna appointed CEO of American Express India

If you think <keyword id="10387" type="CITY" weightage="60" keywordseo="Microsoft">Microsoft</keyword>’s prolonged search for the next <keyword id="5645" type="POSITION" weightage="100" keywordseo="CEO">CEO</keyword> is getting a bit nutty, especially with a disgruntled <keyword id="62333" type="PERSON" weightage="60" keywordseo="Steve-Ballmer">Steve Ballmer</keyword> waiting on the sidelines to hand over the mantle, you are not far from the truth. But then, that is the actual state of the coveted C-Suite nowadays – volatile is the right word if you want to sum it up. There is no job security at the top and even the best performer for years can get redundant within the span of a few weeks. The issues could be many – right from <keyword id="646347" type="UNKNOWN" weightage="100" keywordseo="poor-performance">poor performance</keyword> to <keyword id="610960" type="UNKNOWN" weightage="100" keywordseo="business-restructuring">business restructuring</keyword> to alleged <keyword id="6375736" type="UNKNOWN" weightage="100" keywordseo="corruption-charges">corruption charges</keyword>. But the biggest factor is relevance, a perfect future-fit that can take companies ahead, according to <keyword id="67736" type="UNKNOWN" weightage="100" keywordseo="Industry-experts">industry experts</keyword>. In a difficult <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword>, companies are compelled to twist and turn to keep track of profitability and their requirements change accordingly. Hence, their leaders have to adapt, shape up or ship out, as the case might be. 
 India is no exception and business leaders across the country have been frequently ‘released’ by industry giants. Many of them leave with ‘immediate effect’ while others are on garden leave or worse still, waiting for their predecessors to turn up (just like Ballmer). Yet, most of the C-Suite executives are tight-lipped about their departures, at least here in India. We are yet to come across an announcement like the one made by <keyword id="384914" type="PERSON" weightage="60" keywordseo="Groupon">Groupon</keyword>’s founder and former CEO <keyword id="488139" type="PERSON" weightage="60" keywordseo="Andrew-Mason">Andrew Mason</keyword>. But exit happens all the same – be it discreet or blatant. Here’s a quick look at some of the top-notch C-Suite executives from India who parted ways with their respective companies in 2013, their official exit lines and what happened behind the scene.

Strife At The Top: These
11 C-Suite Execs From India
Were ‘Let Go’ In 2013

New Delhi, Jun 26 () The Supreme Court Friday dismissed the anticipatory bail pleas of DHFL promoters Dheeraj Wadhawan and Kapil Wadhawan in a money laundering case of Yes Bank being probed by the Enforcement Directorate (ED). The Wadhawans, now arrested, have challenged the Bombay High Court's May 12 order rejecting their plea for pre-arrest bail. A bench of Justices Sanjay Kishan Kaul and B R Gavai dismissed a batch of four pleas after senior advocate Mukul Rohatgi, appearing for the Wadhawans, said that he was not pressing his prayer for relief. Solicitor general Tushar Mehta, appearing for the ED said that both the accused have been arrested and hence their plea for anticipatory bail becomes infructous. The bench dismissed the pleas as withdrawn. The high court had refused to grant pre-arrest bail to DHFL promoters, noting that their custodial interrogation was required to unearth the conspiracy and modus operandi in the multi-crore scam. The Wadhawans are in jail after being earlier arrested by the CBI in a separate case related to the Yes Bank scam. They had moved the high court for anticipatory bail in the money laundering case and another case pertaining to alleged irregularities in the investment of employees' provident fund of Uttar Pradesh Power Corporation Ltd (UPPCL). The high court had noted in its order that the applicants were not co-operating with the process of law and that the ED had issued several summonses to both Kapil and Dheeraj seeking their presence for questioning in the cases. The court said although the Wadhawans responded to the summonses and notices issued to them by the ED, they evaded investigation by not appearing before the agency. The response to the summonses speaks of apathetic and an indifferent approach. The lackadaisical approach of the applicants can be well noted in their response to the prosecuting agency, the court had said. Wadhawans' counsel had contended before the high court that no case has been made out for money laundering and the transactions in question were made in normal course of business. They had argued that there was no case for any arrest or arrest warrant at this stage for his clients in the midst of the COVID-19 lockdown in a matter of financial nature which is being investigated for the last six months. The Wadhawans have claimed they have been made "scapegoat of political quandary" in the state. The court, however, refused to accept the excuse of the COVID-19 pandemic and had said this shall not deter the ED from investigating a serious offence of money laundering which has shaken the economy of this country. Dheeraj and Kapil Wadhawan were arrested in April by the Central Bureau of Investigation (CBI) in connection with the Yes Bank scam. According to the CBI FIR, the scam started taking shape between April and June 2018 when Yes Bank invested Rs 3,700 crore in short-term debentures of the scam-hit DHFL. In return, the Wadhawans allegedly "paid kickbacks of Rs 600 crore" to former Yes Bank CEO Rana Kapoor and his family members in the form of loans to DoIT Urban Ventures (India) Pvt Ltd held by the wife and daughters of Kapoor, the CBI has claimed. MNL ABA SJK SA

SC dismisses anticipatory bail plea of DHFL promoters in Yes Bank money laundering case

Here is how the Indian IT and Mobile industry reacted after yesterday’s session of Budget announcement 2014. 
 
Sunil Lalvani, Managing Director, <keyword id="6354356" type="COMPANY" weightage="40" keywordseo="BlackBerry">BlackBerry</keyword>, India “The budget is prudent and cautious even while it aims to address key sectoral concerns and brings in vital initiatives to spur growth especially in critical sectors like manufacturing, healthcare, education, skill development and infrastructure as well as assuring a stable tax and regulatory regime that is expected to incentivize <keyword id="6362476" type="ORGANIZATION" weightage="40" keywordseo="investments">investments</keyword>. The budget also has significant focus in rolling out measures for rural development. From a consumer sentiment standpoint, the budget brings some relief around IT exemptions and is expected to accelerate savings that may fuel economic growth and consumer spending. Further impetus to innovation, entrepreneurship and focused development of industrial corridors will drive domestic employment generation and economic upliftment. Fostering growth and reducing fiscal deficit have been the cornerstone for this year’s budget. 
 
With technology as a key component for delivery of government services, mobile will be a key enabler. M2M technologies will be vital to realize the government’s vision of 100 smart cities, as well enhancing the delivery of healthcare and education services. We believe these are positive signs that will transform the standard of healthcare, education and urban living, as IoT becomes a reality. 
 
Further, domestic manufacturing will receive likely boost as the government enhances focus on this sector. Overall a progressive budget that aims to instill investor confidence and propel economic growth.” 
 
Bhaskar Pramanik, <keyword id="6364480" type="POSITION" weightage="40" keywordseo="Chairman">Chairman</keyword>, <keyword id="10387" type="CITY" weightage="40" keywordseo="Microsoft">Microsoft</keyword> India 
“There were five specific priorities that I was looking for to be addressed in this maiden budget by the new Government - ubiquitous use of technology for inclusive growth, enhancing the education ecosystem, promoting a tax regime that is stable and growth oriented, focus on the start-up ecosystem and greater impetus to the manufacturing sector. It is heartening to note that the budget has provided the right direction on these. 
 
India’s transformation has to be powered by technology - this is well recognized by the Government and has been articulated in the various initiatives in the Budget. I see this budget setting the stage for higher growth on strong fundamentals of manufacturing and infrastructure sectors, built on the backbone of technology.” 
 
Sanjay Rohatgi, President - Sales, India, <keyword id="111839" type="CITY" weightage="40" keywordseo="Symantec">Symantec</keyword> “The <keyword id="6355261" type="POSITION" weightage="40" keywordseo="Finance-minister">Finance Minister</keyword> has presented a forward-looking budget. 'Technology for Governance' seems to be the new mantra here. This has instilled a great deal of excitement in the technology sector with an array of opportunities. We are particularly thrilled with the Government’s all-encompassing initiative themed ‘Digital India’ which clearly enunciates a clear action plan for last mile internet connectivity, better access to services, as well as IT skills development of local talent. This is being further reinforced with outstanding proposals for massive investments in greenfield infrastructure projects such as smart cities; youth-focused programs like establishing new IITs and developing a conducive environment for entrepreneurship. These are extremely positive and encouraging steps and we sense that a protected and secure information infrastructure will be the backbone for inclusive growth and development. It’s an environment Symantec will look forward to work and partner in.”

You Searched For "Sanjay Rohatgi" and got 5 results

Supreme Court rejects Chanda Kochhar's plea challenging termination as ICICI Bank's MD, CEO

IANS

Sanjay Khanna appointed CEO of American Express India

IANS

Strife At The Top: These 11 C-Suite Execs From India Were ‘Let Go’ In 2013

Sanghamitra Mandal

SC dismisses anticipatory bail plea of DHFL promoters in Yes Bank money laundering case

PTI

Budget 2014 Reactions By The Indian Mobile And IT Industry - BlackBerry, Microsoft And Symantec

Sulabh Puri

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