Wednesday, 15 June 2011

The Hindu's battle for survival: "Madras High Court reserves order"

http://www.business-standard.com/india/news/madras-high-court-reserves-order%3Ci%3Ethe-hindu-%3Ci%3Ecase/439163/

The high court here on Tuesday reserved its order on the petition filed by N Ram, head of The Hindu group of publications, against a Company Law Board (CLB) ruling that key resolutions approved by the board of directors and the majority shareholders on personnel and structural changes couldn’t be implemented.

The CLB has restrained the board resolution approved by shareholders on May 20 to remove the editor, N Ravi, and appoint an employee from outside the family which runs the company, Kasturi & Sons, to succeed him, among other changes.

Ram, who is chairman of the company and also editor-in-chief of The Hindu, had petitioned the HC, arguing that the CLB could not decide such matters for the organisation. This was contested by Ravi and other rivals within the family.
The matter was heard by judge Vinod K Sharma and the arguments between rival counsels went on for four hours. Counsel for Ram said the appointment of Delhi bureau chief Siddharth Varadarajan as editor in place of Ravi would be in the publication’s interest. Seven of the 12 board members had approved and so had 60 per cent of the shareholders.

Counsel for Ravi and executive editor Malini Parthasarathy, both part of the family and who would lose their editorial responsibilities under the proposed changes, contested this. They said the move breached the entire tradition and practice at the institution, and was also contrary to what management consultants and the CLB itself had recommended.

A counsel for joint editor Nirmala Lakshman, another anti-Ram contender, alleged Ram was looking for an opportunity to exit the organsiation in return for a satisfactory price.

4 comments:

  1. The two sides of The Tindu consists of congress coolies like N.Ravi and Malini and Commie coolies like N.Ram. Right at this moment, I prefer N.Ram over the former group. N.Ram will now have to accept left's pathetic position at this moment. Ravi and Malini otoh will support corrupt congress to the hilt. Hope Ram wins and takes The Hindu down the drain quickly. N.Ravi and Malini will take it slowly. Sooner the paper goes the better.

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  3. From this blog itself one can see how dishonest MaliniP and NRavi are. They take cheap shots N.Ram, but never update court verdicts when it goes against them.

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  4. Great article with excellent idea! I appreciate your post. Thanks so much and let keep on sharing your stuffsBreaking news online

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