Washington sources reported that the controversy surrounding the $50 million donation from not for profit Tata Trusts to the Harvard Business School in 2010 has now reached the American shores with a leading Conservative website questioning the globally prestigious institution for accepting “questionable funds” that should otherwise have been “used for the welfare of the poor.”
Meanwhile that was against “every tenet of good (corporate) governance”, Alex Beard, director of a Washington based global financial advisory firm and a former professor from Georgetown University, said in a signed article. Accordingly Beard also questioned Harvard’s moral obligation, asking if it would return the funds “or rectify it in some other way”.
Moreover the 2010 donation agreement the largest from an international
donor in the 102-year history of the Harvard between HBS Dean Nitin Nohria and
business magnate Ratan Tata that resulted in the subsequent construction of
Tata Hall in 2013 is under a parliamentary scrutiny in India. Further a sub-panel
of the Public Accounts Committee was looking into the $50 million donation and
other such gift pacts, suspecting the money may have been donated in violation
of tax rules, according to a member of the panel.
CBI & ED likely to issue summons for questioning former ICICI Bank CEO Chanda Kochhar According to report CBI sources said former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and industrialist V.N. Dhoot in connection with the Rs 3,250 crore loan case involving the Videocon Group and ICICI Bank. Meanwhile the Central Bureau of Investigation (CBI) sources said the agency would initiate the summons as it had completed the scrutiny of documents
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