Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
The Insolvencies and Companies Court of London high court on Monday declared fugitive business baron Vijay Mallya a bankrupt person as per UK laws. Legal experts explain what this means for 65-year old Mallya's personal liberties, his legal battle against extradition to India to face trial, and for the consortium of Indian lenders - at whose behest the bankruptcy proceedings were initiated in the UK courts.
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For India to invoke "sovereign" or "state" immunity to safeguard its foreign assets, which are under threat of getting seized in the intensifying legal battle with Cairn Energy, may come with several riders. Experts point out that the Indian government has to first satisfy the French court that the properties or assets that are under consideration are being used to dispense the state's sovereign functions.
'Devas will continue to pursue its rights and enforcement actions against India in courts around the world.'
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
Experts explain the distinction between the rights of small and minority shareholders in public-listed and private companies.
The new definition under the Code of Wages, 2019, includes three components: basic pay, dearness allowance and retention payment.
Cairn Energy has threatened the Indian government that it is looking at executing the favourable $1.2 billion international tribunal award in the retrospective taxation case by seizing India's overseas assets.
Legal experts explain the implications of the latest twist in the Amazon-Reliance battle for billion-plus consumers' purse.
Most of the hirings are, however, in the entry or junior level.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
Choice of jurisdiction is important as that decides which country's law would apply in settlement of the dispute, says Sudipto Dey.
CCI decided to pursue investigation on two issues - these relate to "exclusivity regarding the mode of payment for the purchase of apps and in-app purchases" and "pre-installation and prominence of Google Pay on Android smartphones".
While Amazon is expected to approach either Mumbai or Delhi high court to enforce the interim order of SIAC, the Future Group, too, is likely to challenge the order. Legal experts also expect the Reliance group to expedite the process for regulatory clearances in the deal.
HR experts estimate that up to 70 per cent companies in the manufacturing and services space including sectors like auto components, edutech and construction equipment are looking to restore the salary cuts over the next couple of months.
There is considerable speculation as to whether this award would have any bearing on another Vodafone-type case, namely, the ongoing tax-related arbitration proceedings with Cairn Energy.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Experts say it is difficult to determine country of origin where most products are manufactured and sold, as part of a complex global value chain.
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