Syndicate Bank (FE) Had PC facilitated Board appointment like inheriting Family Property? Daughter on the Board after Fathers term ends Qualifying Remark for Appointment on Board...“She is an MBA, has diversified exposure of over 15 years in varied sectors spanning across Retail & Investment Banking, Real Estate, Petroleum and Retail. She was involved in planning and implementation of the BPCL’s - New Generation Retail Outlet & concept of convenience stores under the Brand Name In & Out.” On July 17, 2012, the Bangalore-based bank had announced the appointment of Jasleenn Suri as a director on its board. Her father, Bhupinder Singh Suri, who had served as a director on the board for six years, vacated his seat just 20 days earlier on June 26, 2012. Put together, the father-daughter duo have held the post of director on the board of Syndicate Bank for more than eight years now. Both father and daughter were appointed as shareholder directors in the bank, by the government — which has a holding of 67.39 per cent stake in the bank. On how they qualified for the job, the details on the bank’s website are sketchy. Bhupinder Singh Suri owns the Gymkhana Service Station on Race Course road in New Delhi, right across the Prime Minister’s residence. Jasleenn claims to have done her MBA from Amity Business School in Noida, “Ms Jasleenn Suri was elected as a Shareholder Director under Section 9 (3) (i) of the Banking Companies (Acquisition & Transfer of Undertaking) Act 1970 on 17.07.2012 and assumed charge on 18.07.2012.” This is not the only appointment on the board that appears to be in violation of corporate governance rules. There are two directors on the board of Syndicate Bank who have been Congress workers. C R Naseer Ahamed, a district Congress vice-president in Davangere, was appointed as a director on the board of the bank in.
Posted on: Thu, 07 Aug 2014 05:52:04 +0000
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