.....................Kapur said the bank notice for the AGM does not refer to the circumstances surrounding the Reserve Bank of India’s (RBI) approval of Kapoor’s appointment as MD and CEO till August 2015. “Rana Kapoor could not have applied to be MD and CEO without my recommendation...secondly, the shareholders have not been informed that though the approval sought in August 2012 was for five years, RBI granted it only for three years. This speaks volumes and the shareholders must know about it. The entire proposal is not transparent and contrary to the Articles and Companies Act 2013.”.............
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