RIL may get a non-Ambani MD for first time in company's history.
Dawn of a New Era: If the directive by the Securities and Exchange Board of India (SEBI) on separation of the Chairman and Managing Director posts is implemented as per schedule on April 1, Reliance Industries is likely to get its first non-Ambani Managing Director (MD).
Mukesh Ambani, CMD of RIL will become the non-executive Chairman while a non-Ambani may become RIL’s MD for the first time in the company’s history.
Probable names strewn include those of RIL Executive Director Nikhil Meswani's, Mukesh Ambani's confidante and right hand man, Manoj Modi's and other two executive directors, Meswani's younger brother, Hital's and P.M.S. Prasad's. HT
In Other News: Bombay Dyeing Chairman Nusli Wadia has withdrawn a defamation suit against Tata Group Chairman Ratan Tata.
A bench headed by Chief Justice SA Bobde allowed Wadia to withdraw the petition in the apex court after the court recorded that Tata and others had no intention to defame him (Wadia).
Wadia had filed a criminal defamation case against Tata sons, the holding company of Tata group and its executives in 2016. He had sought ?3,000cr as damages. Wadia has moved the apex court challenging the Bombay high court order of last year, which quashed proceedings initiated by a local Mumbai court against Tata group executives and board members including Ratan Tata. Moneycontrol
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