Cyrus Mistry had put in place a strategy that would have pulled most of the Tata group's 'legacy hotspots' out of the financial mess from legacy issues and helped turn around the group's finances.
Often these IDs sit on the audit committee of the board or even chair it.
Junking Murthy's claims, Infosys said the board did all it could to look into whistle-blower complaints of corporate governance lapses, particularly those related to acquisition of Panaya.
In the year-long crackdown on tax evasion, the GST authorities have unearthed over Rs 35,000 crore of tax fraud committed by misuse of input tax credit provision under the Goods and Services Tax (GST) regime. During the 2020-21 financial year, the CGST zones and the Directorate General of GST Intelligence (DGGI) booked about 8,000 cases involving fake ITC of over Rs 35,000 crore, a statement from CBIC said. Under the GST regime, at the time of paying tax on output, entities can reduce the tax they have already paid on inputs.
SBI chairman Rajnish Kumar said Naresh Goyal would be eligible to bid for the airline when the lenders auction it next month.
Rediff readers tell us what their first salary means to them.
The government would be ironing out issues related to the controversial 'bail-in' clause in the earlier Bill, explore hiking the deposit insurance cover of customers, and decide whether the resolution framework should apply to public sector banks.
The collection of mostly small and medium sized businesses is a hotchpotch of ventures and include design schools, schools, villas for hire in Goa and a country club in Gurgaon.
India may adopt norms similar to the US Federal Reserve model, which regulates conglomerate-led banks in the country.
A roster of the work for fresh cases notified under the order of the chief justice of India will come into effect from February 5 till further orders.
Non-uniform definition of control makes foreign investors wary, raise corporate governance issues.
Is there more than meets the eye to Kitex Garments, the world's second-largest children's garment producer, abandoning Kerala for Telangana?
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
It has been also revealed that V G Siddhartha had written a letter to the Board of Directors and employees of Coffee Day Enterprises, saying he had 'failed as an entrepreneur'.
When the Delhi police served him a notice in May for a case involving tagging some political leaders' tweets as carrying manipulated media, a spirited Maheshwari said he was employed by Twitter Communications Private Limited, and not Twitter Inc, and, therefore, could not help them. The authorities were understandably not pleased.
A spokesman for Gibraltar's government also confirmed that police proceedings against four members of the crew had ended.
Interception of electronic communication should also be covered in the powers being sought, the report said.
Move aims to comply with Sebi's norm
Once the bankruptcy provisions are notified, these proprietary firms will benefit, as Insolvency and Bankruptcy Board plans to consider them as individuals
Experts say, these leave many matters to the discretionary powers of bureaucrats, rather than providing them explicitly in the rules.
Rajiv Bansal's severance payment was Rs 17.38 crore
The assets mentioned in the Sebi order are already in possession of the ED for violation of an anti-money laundering law by Mallya and PMLA overrides all other laws, providing ED first right over the assets.
The ED, which is probing the DHFL promoters' role in financing funds to gangster Iqbal Memon (alias Iqbal Mirchi), said Kapil Wadhawan, former chairman and managing director of the debt-laden company, played a very crucial role in these "nefarious transactions" by way of money laundering.
NEDICT has also got in touch with companies, which will be limited to the role of 'donors'.
The diamond merchant wanted in India on charges of fraud and money laundering in the estimated $2-billion Punjab National Bank scam case, lost his legal battle against extradition as a UK judge ruled that he does have a case to answer before the Indian courts.
It sets up internal panel to iron out issues companies face with delisting regulations.
Regulator probing jewellery houses for violation of collective investment scheme rules, says Shrimi Choudhary.
Restricted by state government orders, the ownership of such land could not be formally registered, so the advances made continued to be reflected in the accounts as 'advances against land'.
Fixed deposits can fetch 9-9.5% interest versus 3.5% to be received by Cairn, say institutions.
The decision to do away with Rs 500 and Rs 1,000 notes accelerated the slowdown in economic activity with growth averaging 6.8 per cent in the seven quarters after it, as against an average of 8 per cent in the six quarters preceding it, says former chief economic advisor Arvind Subramanian.
Ansuya Dutt, who never stopped fighting for women's rights, can be an inspiration to us never to lose sight of our basic beliefs, never mind peer pressure.
facilities at Bangalore one understands the financial year end frenzy at these establishments and the slipshod slippages in timeframes, quality of overhaul, servicing and quality control across the board, for aircraft and equipment alike,' says Group Captain Murli Menon (retd).
The report concluded that she failed to discharge her fiduciary functions to rescue herself to avoid any conflict of interest.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
Every move that strengthens Cyrus Mistry's position in companies like Indian Hotels could prolong the uncertainty.
Like their international peers, Indian CEOs too have a significant portion of their incomes coming from stock options and performance-linked bonuses
DLF Ltd on Friday said it was reviewing an order from the country's market regulator that fined the company and its top management $8.4 million.
A look at the financials of some of the key companies in the Sasikala clan's business empire.
