State-run Industrial Finance Corporation of India (IFCI) has a fight on its hands, quite literally so. Late last week, an argument between the chief credit officer of the company and one of its vice-presidents degenerated into a fistfight, an Economic Times report said.
A board official confirmed to ET that IFCI's CEO & MD Atul Rai has set up an internal committee to probe the genesis of the confrontation. The finance ministry, the parent administrative ministry, is keeping a watch on the situation, said people aware of the developments.
The violent altercation was discussed at IFCI's board meeting on Monday, these people said. According to two sources aware of the developments, a dispute between IFCI's Chief Credit Officer Shivendra Tomar and Vice-President Rajeev Arora turned ugly and ended in a fistfight. The affray resulted in injuries to both individuals.
Read the full report here