AN ETHICAL CONUNDRUM BACKGROUND… CHARACTERS IN THE CASE
NEIL SHAH PAUL JOSEPH
NON-EXECUTIVE INDEPENDENT DIRECTOR GENERAL MANAGER OF IPL INDUCTED FOLLOWING WIDESPREAD REFORMS IN ASSERTIVE & CONVINCING IN NATURE INDIAN CORPORATE GOVERNANCE SCEPTICAL OF THE BIDDING PROCESS CHAIR OF AUDIT & ETHICS COMMITTEE DEDICATED & HONEST TO HIS ROLE AND RESPONSIBILITIES ANXIOUS TO TAKE DECISIONS ON LARGE DEALS CHARACTERS IN THE CASE (CONTD.)
GEORGE MATTHEW ANIL NAIR
DIRECTOR (LOGISTICS) NON-EXECUTIVE INDEPENDENT DIRECTOR MECHANICAL ENGINEER BY PROFESSION CHAIR OF INVESTMENT COMMITTEE “TOUGH” BOSS VAST CORPORATE EXPERIENCE HIGH TECHNICAL COMPETENCE ON THE BOARD OF HFC FOR THE PAST 6 YEARS DEMANDS ABSOLUTE OBEDIENCE FROM SUBORDINATES ARTICULATE & EXPRESSES HIS VIEWS BOLDLY & WITH CONVICTION NOT SOMEONE TO GIVE IN EASILY TO THOSE OPPOSED TO HIS VIEWS NEIL’S DILEMMA
SHOULD NEIL HAVE AGREED ON A MEETING WITH MR. PAUL JOSEPH?
OUR TAKE… NO..! IMPLICATIONS OF NEIL’S DECISION
VIOLATED VARIOUS STANDARDS LAID DOWN IN CLAUSE 49 OF THE
LISTING AGREEMENT WITH THE BSE & NSE PUT IN JEOPARDY HIS OWN JOB AND REPUTATION, ALONG WITH THAT OF HFC RAISED QUESTIONS OVER THE ENTIRE BIDDING PROCESS NOW THAT THE CAT IS OUT OF THE BAG
WITH NEIL HAVING A VERY SENSITIVE INFORMATION AT HAND, AND THE
LETTER ALREADY BEING SENT TO THE BOARD OF HFC BY IPL, IT IS ONLY PRUDENT FOR NEIL TO COME CLEAN WITH THE BOARD PUT FORWARD THE CONCERNS RAISED BY MR. PAUL JOSEPH SINCE THE SUDDEN CHANGE IN THE BID DEADLINE DOES RAISE A FEW QUESTIONS, INVESTIGATE THE ACCUSATIONS LEVELLED AGAINST MR. GEORGE MATTHEW