Meet the Kudvas, the couple in Sebi’s firing line
When Omidyar India chief Roopa Kudva was an independent director on Infosys Ltd’s board in , she came under a scathing attack from the company’s co-founder N.R. Narayana Murthy.
At the time, Murthy alleged corporate governance lapses at Infosys with regard to the high severance package paid to former chief financial officer Rajiv Bansal. “Ms Roopa Kudva said that we had to sign a non-disclosure agreement if we wanted to know the reason (for the severance package)!,” Murthy had remarked.
Kudva was replaced as the chairperson of the Audit Committee following the incident.
Today, she faces a far graver situation.
On Monday, the Securities and Exchange Board of India (Sebi) barred Kudva and her husband Vivek, head of the Asia Pacific region for Franklin Templeton, from the capital markets for a year, besides imposing monetary penalties for unfair trade practices.
Sebi noted that the husband-wife duo and Vivek Kudva’s late mother Vasanthi redeemed their personal investments from the six beleaguered debt schemes of Franklin Templeton Mutual Fund based on confidential and non-public information. The Kudvas redeemed their inves
Sangeeta Talwar Interview
Roopa Kudva, 46, CEO and MD, Crisil & Region Head-South Asia, Standard & Poor's
Her secret dream: to be a part of every credit or lending decision made in India, and to make India a hub for all S & P ratings in the South-East Asian region. Roopa Kudva, who took up the S & P post recently, wants the international rating agency to play a pivotal role in capital flows in and out of the region. Crisil's rating coverage has grown nearly eight times since From , the number of firms being rated has gone up to 3, Besides, its small and medium enterprises (SME) rating business, started in middle of last year, has got 7, ratings under its fold.
When the financial meltdown in the US put rating firms under the scanner, Kudva and her team promptly stepped up communications with its users of ratings. Crisil, a 51 per cent subsidiary of S & P, started sending out rating alerts to investors and general public even before a company was downgraded or upgraded. It also launched a product to measure the complexity level of financial products, and Kudva hopes it will become the key factor in every financial product bought or sold in India.
Power to me means.
T
Roopa Kudva&#;s 7-year itch at Crisil
Young analysts at Crisil Ltd, a Standard and Poor’s (S&P) unit, take immense pride in asking the top management of promoter-driven companies about their succession plans. I remember many years ago how Crisil’s rating analysts had grilled the promoters of a large automobile company on their succession plans. Crisil’s rating methodology puts huge emphasis on two critical aspects: the level of governance followed by corporations and the succession plans of the promoter.
In the best tradition, professionally managed companies ceremoniously mention successors when a chief executive officer steps down. However, when Roopa Kudva, 50, Crisil’s former managing director and chief operating officer, stepped down from office on 9 September, this was not done. Citing Kudva, a Crisil statement said, “Change at the top at judicious intervals is a sound governance practice and allows companies to refresh themselves. I am committed to ensuring a smooth transition.” The stock exchange filing of the listed company stated that Kudva would remain with the company till a successor was identified. We have not heard any announcement on this yet.
Did Kud
Directorship Details :
ROOPA KUDVA was appointed the director of NESTLE INDIA LIMITED on You can contact NESTLE INDIA LIMITED through their email address which is investor@ For any further information, the company NESTLE INDIA LIMITED registered address is / , WORLD TRADE CENTRE, BARAKHAMBA LANE, NEW DELHI Central Delhi DL IN .
ROOPA KUDVA was appointed the director of INFOSYS LIMITED on You can contact INFOSYS LIMITED through their email address which is Manikantha_AGS@ For any further information, the company INFOSYS LIMITED registered address is ELECTRONICS CITY,HOSUR ROAD, BANGALORE KARNATAKA KA IN .
ROOPA KUDVA was appointed the director of TATA AIA LIFE INSURANCE COMPANY LIMITED on You can contact TATA AIA LIFE INSURANCE COMPANY LIMITED through their email address which is Swaminathan.S@ For any further information, the company TATA AIA LIFE INSURANCE COMPANY LIMITED registered address is 14th Floor, Tower A, Peninsula Business Park, Senapati Bapat Marg, Lower Parel, Mumbai - MUMBAI Mumbai City MH IN .
ROOPA KUDVA was appointed the director of CRISIL CREDIT INFORMATION SERVICES LIMITED on You can contact CRISIL CREDIT INFORMATION SERVICES LIMITED through their email ad
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