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.
Saudi Arabia auctions real estates of billionaire Maan al-Sanea Riyadh sources stated that Saudi Arabia will auction real estate owned by indebted billionaire Maan al-Sanea and his company starting next month to help repay billions of riyals due to creditors. Meanwhile sources familiar with the matter told Reuters, Sanea ranked by Forbes in 2007 as one of the world's
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