Deal guru Kampani back in India
Nimesh Kampani has returned to India after nearly a year, days after the Andhra Pradesh High Court stayed all proceedings against him in a case relating to alleged defrauding of depositors by a Hyderabad-based company.business Updated: Oct 20, 2009 21:14 IST
Nimesh Kampani, one of the country’s best-known investment banker and deal maker behind many big corporate deals, has returned to India after nearly a year, days after the Andhra Pradesh High Court stayed all proceedings against him in a case relating to alleged defrauding of depositors by a Hyderabad-based company.
Kampani is the chairman of JM Financial, a company that often figures in high-profile merger and acquisition deals.
He had played a leading role in the partition of the Reliance business empire between industrialists Mukesh and Anil Ambani and also advised the Tatas on the takeovers of UK steel giant Corus and luxury car maker Jaguar Land Rover.
“He arrived in Mumbai from Dubai on Friday and left for China on Monday night on a business visit,” a spokesperson for JM Financial told Hindustan Times.
Last week, the stay Andhra Pradesh High Court stayed all proceedings against Kampani, including a lookout notice issued by the state police last year.
Kampani, 61, had been an independent director in Nagarjuna Finance Ltd (NFL) that failed to return Rs 98 crore (Rs 980 million) in deposits it had collected from hundreds of depositors.
Kampani has been away from the country since December last year. The Andhra Pradesh police had alerted every airport in the country about an arrest warrant pending against him.
In August this year, the court had dismissed his bail application on the ground that such a move could jeopardise investigations. The situation has changed since then as most of the depositors have withdrawn their complaints after NFL settled their accounts.