Rajeev Nayar This is Me

 Web References

1. 1. Delhi HC Stays Daewoo Bid For More Promoter Directors

   www.financialexpress.com/fe_fu - [Cached]

   Published on: 6/19/2002   Last Visited: 6/19/2002

   ICICI counsels Rajeev Nayar and Ajoy Roy and IDBI and Exim Bank counsel AM Singhvi submitted before the Delhi High Court that the request of the FIs had to be automatically taken on by the Daewoo board as per the loan agreement, the Articles of Association read with the respective Acts of IDBI and the Exim Bank.
   
   On May 16, all the nominee directors wrote to the company in view of subsequent developments to convene a board meeting. The company did not comply and issued a notice to members of the audit committee to hold a meeting on May 20 to consider the status of the company's networth erosion.
   
   All the nominee directors made a representation to the company and the auditors that they could not hold the audit committee meeting as the committee was invalid in view of the fact that the chairman and managing director of Daewoo Motors was also the chairman of the audit committee.
   
   On May 29, the nominee directors sent a requisition to Daewoo Motors setting out the agenda at the board meeting.