Hemindra Hazari, Independent Analyst: It is unusual. It introduces a political dimension and political risk. Business, especially for banks which are highly leveraged and manage public monies, tend to get identified with parties if their promoters publicly support one party or another, so I feel they should publicly remain apolitical. Uday Kotak publicly backed Modi during demonetisation and now that BJP’s electoral prospects are looking doubtful, he is backing the Congress party.
The confidential dealings in IndusInd Bank’s boardroom, the sanctum sanctorum, are getting increasingly exposed through the publication of board documents and confidential correspondence by...