The ACC letter to RICB Board ( courtesy Kuensel today the 12th January, 2018 ) says a lot about the RICB Board of Directors and supervisory failings of RMA.
Whilst RMA can self examine under the shadow or glow of Druk Thuksey Medal, the Board of Directors of RICB should immediately hold a Meeting to dissolve itself. The Secretary of Company Acts of Bhutan under MOE must convene an Extra- Ordinary General Meeting of the Shareholders to elect a fresh Board of Directors and Managenent.
This scale of fraud ( not mis- management ) cannot have taken place so blatantly without the personal knowledge of RMA officials and at least few Board Directors even though they may not have been officially briefed. The CEO and Executive Director team could not have committed such glaring frauds without Board Directors and RMA closing their eyes at best and at worse with their tacit approval or encouragement.
Respectfully ACC. Please, the rot is at the top in most institutions and stop taking your vengeance upon the subordinates whose professional fate and family livelihoods are in the hands of their superiors.
In case of RICB, I feel ACC has a duty to hold RMA and the Board of Directors responsible for pretending to be blind to such broad day light robberies of shareholders and national economy.