Stripping Of Honorary Titles and Positions: The New Controversial Drama in UK and India

If receiving an honorary title like a Knighthood or a coveted position in the country’s leading organization is a dream in itself then losing these titles and the privileges that come with them would therefore be a nightmare. In a recent and highly controversial move, the former chief executive of Royal Bank of Scotland Fred Goodwin has been stripped of his Knighthood by the Queen upon counsel from the forfeiture committee. Fred Goodwin was honored with Knighthood during the tenure of the Labor government in the UK in 2004 for his services to banking in the country. However, with the economic crisis and the mismanagement of the bank under Fred Goodwin’s leadership lead to a debacle in the country’s financial history which has failed to regain its erstwhile robustness even after four years of the crisis.

 

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