Published on Mon, Apr 25, 2011 at 20:30 | Source : CNBC-TV18
Updated at Wed, Apr 27, 2011 at 13:05
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The Hindu family feud may turn into legal battle
The battle for power within Kasturi and Sons, and the Hindu, the newspaper, continued over the weekend. N Ravi, editor of the newspaper, is not ruling out legal action against his brother and editor-in-chief of the Hindu, N Ram.
The battle for power within Kasturi and Sons, and the Hindu, the newspaper, continued over the weekend. N Ravi, editor of the newspaper, is not ruling out legal action against his brother and editor-in-chief of the Hindu, N Ram. CNBC-TV18's Swathi Narayanan reports more.
As the power struggle within the Hindu continues, N Ravi says that he would not rule out legal action against his brother N Ram. According to him, the Memorandum of Association does not separate ownership and management.
On a latest communication, N Ravi said that everything happening in the Hindu is malafide and arbitrary. He said that N Ram has been resisting all attempts to introduce modern corporate governance norms within the Hindu.
The April 18 board meeting, in which N Ram, N Ravi and three others were asked to step down from the board. Siddharth Vardarajan was appointed as the editor of the Hindu. There is a history to this power struggle with the Hindu.
In March 2010, N Ram and eight others tried to curtail the powers of N Murali, who is the brother of N Ram and the then managing director of the Hindu.
The Company Law Board set aside the decision by the board to remove powers of N Murali. According to the Company Law Board, this act was suppressive.
