If the Bombay High Court favours the RBI in its judgement in this dispute, it would appear that the latter is empowered to invoke Section 46(1) on Uday Kotak, the CEO and Dipak Gupta, the joint managing director of the bank, as it has specifically used the word, “wilful” to describe the bank’s conduct.
Ashok Hinduja, chairman, IndusInd International Holding, told the press recently:
"Could you have as a promoter taken steps to avert the crisis at IndusInd Bank?
Money...
Take two old private banks, of similar backgrounds. One embarks on an ambitious, disruptive strategy of nationwide expansion; the other remains stuck to its...