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The ED today filed its first charge sheet against liquor baron Vijay Mallya and others in connection with its money launde
The NCLT today held that the two petitions filed by Cyrus Mistry's family companies against his ouster from Tata Sons were
Infosys chief Vishal Sikka today said "false and malicious" stories are being spread about the USD 200-million Panaya buyo
Vishal Sikka, the embattled chief of Infosys, today said he has always shared a "heartfelt, warm relationship" with the co
India today handed over to the UK an extradition request for absconding businessman Vijay Mallya who is facing cases of lo
N Chandrasekaran, chairman designate of Tata Sons and currently the CEO and Managing Director of Tata Consultancy Services
Ousted Tata Sons Chairman Cyrus Mistry was today removed as director of the company with shareholders voting in favour of
Squarely putting the blame for collapse of Kingfisher Airlines (KFA) on the then government's policies and economic condit
Natarajan Chandrasekaran, the Chairman-designate of Tata Sons, tonight said he will reach out to everyone as he will look
Ahead of the February 6 shareholders' meeting to remove Cyrus P Mistry as director on Tata Sons, the holding company of Ta
Joe Hagan in New York magazine describes how Citi CEO Vikram Pandit finally reached the top— just in time to see the financial system, Citigroup, and all his dreams come crashing down:
“Would you just raise your hand?”
The congresswoman from California peers down through her spectacles at the eight men in front of her, their faces as dour as war criminals at a tribunal. It’s the congressional Finance Committee hearing in February, and Maxine Waters has demanded to know who among America’s investment-bank CEOs had the gall to take billions in federal bailout money and then raise credit-card rates on the very taxpayers who’d helped prop up their sorry companies.
Heads crane to look. Then the long, thin arm of Vikram Pandit, the chief executive of global banking conglomerate Citigroup, goes up in the air like a flag of surrender. When it drops back down again, Pandit’s shoulders slump, a weak smile of acquiescence on his face. Behind him, the Reverend Jesse Jackson glowers with righteous anger.
“Thank you,” Waters says curtly.
It’s a moment of withering humiliation for Pandit, but it’s only the latest disgrace: In the preceding months, he has barely clung to his job, as Citigroup’s board considered replacing him with a former media CEO and offered the government his head in exchange for the billions in bailout money. President Obama himself publicly rebuked him for ordering a new $50 million jet. Forced to break up Citigroup against his own strategic aims, he’s taken so much government aid that one i-banker jokes that Citi has become “the Wall Street version of the DMV.” The rank and file at Citi, their net worth destroyed, accuse him of cronyism and absentee leadership. He’s become a virtual corporate eunuch, his options narrowed to nil, making a $1 salary as a public display of humility....