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Oct 21, 2009, 08.41 AM | Source: CNBC-TV18

Warrant stayed, exiled Nimesh Kampani returns to India

In a CNBC-TV18 exclusive we learn that Nimesh Kampani comes back to India after Andhra Pradesh High Court stayed proceedings against Kampani last week. CNBC-TV18ís Sajeet Manghat reports.

Sajeet Manghat

Chief of Bureau, CNBC-TV18

Nimesh Kampani, chairman of JM Financial, has returned to India after the Andhra Pradesh High Court stayed proceedings against him in the Nagarjuna Finance scam. CNBC-TV18ís Sajeet Manghat reports.

It is learnt from sources that Kampani has arrived into India and, in fact, spent the Diwali weekend with his family members here. Kampani is now learnt to have left for a business trip to China and may return this week.

The Andhra Pradesh High Court last week stayed proceedings against Kampani and also quashed a look-out notice against him.

The stock of JM Financial immediately rose on the stock exchange on news of Kampaniís return and, at the time of writing, was up 2%.

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