Last week, when the board of Jindal Drilling & Industries Ltd (JDIL), part of the Jindal Group, terminated the services of Managing Director Naresh Kumar, he called the decision "illegal and prompted by motivated reasons". JDIL, without citing any
Dubbing the Board's move to sack him, as motivated and illegal, oil and gas exploration services provider Jindal Drilling's Managing Director Naresh Kumar today said he will challenge the decision.
The Rs 3,500-crore Jindal Drilling and Industries, part of the DP Jindal group, abruptly announced dismissal of its managing director, Naresh Kumar, today. Hours later, the latter said he'd sue the promoters for this "shocking" decision.
Jindal Drilling & Industries today said that it has terminated the services of its managing director Naresh Kumar with immediate effect. The company said its board has lost confidence in him without citing exact reasons.