ISB’s Rangnekar defends Rajat Gupta and Rammohan Rao

ISB’s Rangnekar defends Rajat Gupta and Rammohan Rao

Hyderabad: Indian School of Business (ISB) dean Ajit Rangnekar, in a rare interview, defended founder-chairman Rajat Gupta and his own predecessor, M. Rammohan Rao, who both quit the premier management school in the face of controversy.

Gupta left in March after US market regulator, the Securities and Exchange Commission, levelled allegations of insider trading against him.

Rao resigned in 2009 because he was an independent director on the board of information technology company Satyam Computer Services, whose founder-chairman B. Ramalinga Raju confessed to having fudged accounts to the tune of at least 7,136 crore.

Rangnekar said Gupta, former chief of consulting firm McKinsey and Co., has an “impeccable background" and “poor" Rammohan Rao had helped build a strong faculty for the school, which reported a record number of job offers for its graduates this year.