Arvind Nair, CEO of one of India’s leading South Indian cuisine chain, Sagar Ratna, has put in his papers. Sagar Ratna was operating under its investors India Equity Partners and Nair has quit due to tussle between investors and promoters.
Nair will be holding the post only until end of December 2013. According to promoters the investors have not been living upto their claims of building Sagar Ratna as a brand. While the investors claim that the promoter, Jayram Banan, has voilated the contract by opening a hotel chain, Shri Ratnam, thus destroying Sagar Ratna’s brand value.