Reliance Industries on Wednesday said it had couple of months back made a proposal for merger of its media properties with Zee but dropped the offer over differences over stake of Zee founders. Hours after Zee Entertainment Enterprises Ltd's biggest shareholder named it as a firm that could help revive the television company's fortunes, billionaire Mukesh Ambani's firm issued a statement clarifying its position. "In February/ March 2021, Invesco assisted Reliance in arranging discussions directly between our representatives and Mr Punit Goenka, member of the founder family and managing director of Zee," it said.
Finance Minister P Chidambaram on Monday said the government was not resorting to price control in the cement sector and invited industry players for talks on duty differential measures announced in the Budget 2007-08.
Backed by China's Tencent and Prosus NV, Swiggy has around 8,000 employees.
The board meeting is scheduled to be held on Tuesday to discuss the PwC report findings on Grover's conduct. There have been allegations of financial irregularities against him. According to sources, Grover in his resignation letter said that he is being forced to bid adieu to a company of which he is a founder. Grover alleged in the letter that he and his family have been embroiled in baseless and targeted attacks by a few individuals, who are ready to not only harm his reputation, but also the reputation of the company. Queries sent to Grover did not elicit any immediate reply.
HDFC has allotted 208,000 shares of Rs 10 each to its employees under stock option scheme.\n\n\n\n
Paytm will look to raise up to $1.5 billion as part of primary share sale, leading up to its initial public offering (IPO), which is planned for November, a person familiar with the developments said. The company is looking to file its draft red herring prospectus (DRHP) by July, according to sources. According to this person, though the details of the listing are being worked out, Paytm may take the qualified institutional buyer (QIB) route to list and issue fresh equity to raise funds.
Companies are awarding even more stock to make up for the lost share prices. Except that the market, in its infinite wisdom, seems to be telling India's middle class millionaires that stock is no longer a currency for compensation, says Govindraj Ethiraj.
Wipro Ltd has informed BSE that the Board of Directors of the company vide the circular resolution effective February 13, 2003 resolved to issue and allot 2945 equity shares of Rs 2 each pursuant to exercise of stock options by eligible employees.
Digital Globalsoft Ltd allotted 5,000 equity shares of Rs 10 each an employee stock option plan.
Satyam Computer Services Ltd allotted 600 equity shares under a stock option plan.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
Options are still the most commonly used long-term incentives, but companies are turning to sharper performance-based alternatives.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Time opportune, with market buoyancy and entry of new entities
Sebi wanted to know how much Mutual Fund head honchos were paid. A look into who got how much...
Mihir Tanna, Associate Director, S K Patodia & Associates, answers your tax queries.
'Our focus is not going to be metro to metro routes.' 'We will begin by focusing on metro to non-metro (routes).' 'Metro to tier-2 cities or tier-3 cities is where there is a lot of space for affordable, efficient carriers.'
The exchange granted 1.96 million stock options under two employee stock option (Esop) schemes in 2006 and 2008 to those eligible, according to regulatory filings.
With the amended rules, companies can now have up to 74 per cent Differential Voting Rights shares of the total post issue paid up share capital.
Two former directors on the Larsen & Toubro board have returned the employee stock option shares to the company following an out-of-court settlement reached this week with two government-owned financial institutions.
Niyo is also offering bonuses and ESOPs, taking the total stock grants to over Rs 100 crore for all eligible employees.
In the continuing battle between the promoter family and Invesco, ZEEL said its MD and CEO Punit Goenka has informed its board about a proposal made by Invesco about the merger, under which Strategic Group would hold majority stake but he was offered to be appointed as MD and CEO of the merged entity besides offering 4 per cent stake. In a regulatory filing, ZEEL alleged that Invesco's stance in their Open Letter that they "will firmly oppose any strategic deal structure that unfairly rewards select shareholders, such as the promoter family, at the expense of ordinary shareholders" runs contrary to the very deal Invesco was proposing itself a few months ago.
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Firms with low promoter holding may get to buy shares from secondary market.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
In efforts to bolster corporate governance among listed companies, Sebi on Tuesday approved various amendments to rules governing the appointment, re-appointment and removal of independent directors, including the requirement to disclose resignation letters of such individuals. There will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group. As part of the review of regulatory provisions related to independent directors, the Sebi board has cleared amendments to Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015.
According to preliminary information memorandum, Air India's new owner will be asked to list the company in some time
Digital lobalSoft has allotted 10,950 equity shares of Rs 10 each under ESOP.
Esops are considered perquisites from a taxation perspective. If you are employed with the company at the time of exercising, then the perquisite amount would be added to your salary and subject to tax deducted at source as per the slab rate applicable.
The Institute of Chartered Accountants of India has offered technical information for drafting the rules for valuing employee stock options for calculating the fringe benefit tax.
Reliance Industries, the country's largest private sector company, has decided to introduce employee stock options by the next quarter
Starting its journey with a gross revenue of $5 million during its stock market debut on June 14, 1993, Infosys has reached dizzying heights, with a revenue of $10.93 billion in 2017-18
While the CEO of a public sector bank earns an average of Rs 18 lakh per annum, his counterpart in the private sector earns an average of Rs 3.5 crore.
The abolition of fringe benefit tax will help employees save 3 per cent on their employee stock option plan.
The Income Tax department has notified forms for filing I-T returns for 2020-21 fiscal, the Central Board of Direct Taxes said on Thursday. "Keeping in view the ongoing crisis due to COVID pandemic and to facilitate the taxpayers, no significant change has been made to the ITR Forms in comparison to the last year's ITR Forms. "Only the bare minimum changes necessitated due to amendments in the Income-tax Act, 1961 have been made," the Central Board of Direct Taxes (CBDT) said in a statement. The Income Tax returns (ITR) forms ask taxpayers if they are opting for a new tax regime.
This year's share of dream and super-dream job offers has spiked. As a result, the overall annual average salary packages have nearly doubled at some of these college campuses.
Snapdeal had rolled out a hike of 16 per cent and above for its top performers.
'My father was asking me what an IPO is. He has no clue and he has never been an investor.' 'My mother, who was the one to ring the bell, has been an investor in Policybazaar for the past 6-7 years and I would say she has made good returns.'
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