CEO’s Coterie: IndusInd’s High Flying High Risk Takers Reap Rich Rewards But Negligible Penalties https://hemindrahazari.com/2021/08/12/ceos-coterie-indusinds-high-flying-high-risk-takers-reap-rich-rewards-but-negligible-penalties/ 12 Aug 2021
In Indusind Bank, the scale of remuneration reveals how Ramaswamy Meyyappan (Chief Risk Officer) and the corporate credit team (initially led by Suhail Chander and subsequently by Roopa Satish) were handsomely rewarded (FY2017-FY2019) for doing high-risk, poor quality loans to companies like CG Middle East (US$ 40 mn in FY2018; the loan is being investigated by the Securities and Exchange Board of India), Sprit Infrapower (Rs 5 bn loan to unlisted company of founders of Zee media in FY2019) and IL&FS (Rs 20 bn bridge loan in FY2019).