Banks have written off bad loans worth Rs 10,09,511 crore during the last five financial years, finance minister Nirmala Sitharaman informed Parliament on Tuesday. The non-performing assets (NPAs), including those in respect of which full provisioning has been made on completion of four years, are removed from the balance sheet of the bank concerned by way of write-off, she said in a reply to Rajya Sabha. "Banks write off NPAs as part of their regular exercise to clean up their balance sheet, avail tax benefit and optimise capital, in accordance with RBI guidelines and policy approved by their boards.
The Madras high court however directed the BCCI to consider an application from the Cricket Association of Pondicherry for associate membership at the meeting.
As per ICC norm, the host nation is required to get tax exemption from the government for hosting tournaments organised by the global body. Since India's tax rules don't allow such exemptions, the BCCI has already lost close to Rs 193 crore as the government didn't exempt tax surcharge for hosting the 2016 ICC T20 World Cup. The ICC is expecting US$ 533.29 million (Rs 4400 crores approx) from the broadcasting revenue of the 2023 event in India.
Singapore-based e-commerce platform Shopee - that launched in India only in December 2021 - has decided to close operations in the country. The official reason given by Shopee, which is controlled by NYSE-listed Sea Ltd, is changing global sentiments. In a statement, it said, "In view of the global market uncertainties, we have decided to close risks of our early-stage Shopee India initiative." The e-commerce platform has been hit by growing opposition from trade associations led by Praveen Khandelwal as well as homegrown social commerce start-ups.
Earlier, at the AGM of 2016, shareholders had approved his appointment for a period of three years with effect from February 5, 2017
The fate of India's upcoming tour of South Africa amid the trepidation triggered by new COVID-19 variant Omicron will be addressed when the Board of Control for Cricket in India holds its 90th Annual General Meeting in Kolkata on Saturday.
The unfinished AGM will be held in Kolkata to enable newly-elected office-bearers take over.
BCCI secretary Jay Shah took to his official Twitter handle to announce the historical development.
Board of Control for Cricket in India secretary Anurag Thakur says former president Narayanswami Srinivasan will continue as ICC chairman till September after which the Board will chalk out a way forward at its Annual General Meeting.
June was a memorable month for the 101-year-old Tamilnad Mercantile Bank (TMB). Last month, the Thoothukudi-based bank witnessed two new landmarks in a history in which the last three decades could easily qualify for a Kollywood blockbuster.
Taking to Instagram Stories, Anushka shared the screenshot of BCCI secretary Jay Shah's tweet and reacted to the post with three clapping emojis. The actor is set to play former pacer Jhulan Goswami in the upcoming film "Chakda Xpress".
'We don't know when the BJP tried to induct Sourav Ganguly into the party. Sourav Ganguly is a cricketing legend. Some people are now shedding crocodile tears about the changes in BCCI. Did they have any role when he took over as BCCI president? The TMC should stop politicising every issue.'
Ganguly addressed a press conference after the Board's 88th Annual General Meeting (AGM).
The order, which set aside the August 9 ruling of a single-judge bench, prevented the group entities from publishing the voting results of the last AGM. However, the firms will now be able to execute decisions taken at the AGM last year. People in the know said the Birlas would appeal against the order in a higher court.
'All of us tend to believe that they are so well paid, why should we bother about their payments.' 'But who all are well paid? Only a handful, maybe 3-4 of them, who go in for endorsements and things.' 'The others are struggling, playing Ranji Trophy and other matches, so that compensation we made it market-oriented.'
The bickering within the Delhi and District Cricket Association over the Ferozeshah Kotla pitch fiasco took an ugly turn on Tuesday with board member Kirti Azad storming out of the body's annual general meeting, claiming he was insulted for raising the issue.
BCCI to seek SC approval to relax tenure reform
However, the cricket Board's ruling combine threatened to move court against the decision of the observers.
The majority of the International Cricket Council's Board members on Saturday voted in favour of restructured revenue sharing model including rollback of the Big 3 formula despite vehement opposition from Board of Control for Cricket in India's representative Vikram Limaye.
Jain has given Shukla and the BCCI two weeks time to file their response in the matter.
The RBI on Thursday filed an application for initiation of Corporate Insolvency Resolution Process (CIRP) against debt-ridden Reliance Capital at the Mumbai bench of the National Company Law Tribunal. The Reserve Bank had on November 29 superseded the board of Anil Ambani-promoted Reliance Capital Ltd (RCL) in view of payment defaults and serious governance issues. The central bank had also appointed Nageswar Rao Y (former executive director, Bank of Maharashtra) as the administrator of the company.
The Madhya Pradesh Cricket Association on Monday held its Annual General Meeting as per schedule but did not conduct its election as per instructions from the Supreme Court appointed Justice Rajendra-Mal Lodha panel.
Shah in his letter spoke about how difficult it was to plan out the domestic calendar for the season in the post COVID world.
The "additional remuneration" includes monthly pay of Rs 1 crore, rent free furnished accommodation, medical expenses for him and spouse along with use of chauffeur driven company car for personal use and coverage under personal accident insurance. He will also be entitled to commission between Rs 30-60 lakh as sitting fees for attending meetings of board and committees of the company for each financial year.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
A CA director for 13 years, Eddings replaced David Peever in 2018 as interim chairman after the former mining executive resigned following the release of a scathing cultural review into the Newlands ball-tampering scandal.
Ganguly said the details will be worked out in the upcoming Annual General Meeting
Taking to Twitter, the South African-born Pietersen wrote, "Goodness me! What's happening to cricket in SA is catastrophic."
Asked if Ganguly would be cornered at the meeting, he laughed and cited an example.
Sourav Ganguly is set to be replaced as BCCI president by 1983 World Cup winning-team member Roger Binny.
A defiant BCCI President N Srinivasan today declared that he will chair the Board's Annual General Meeting scheduled to be held in Chennai on September 29.
Livid over Narayanswami Srinivasan attending the Board of Control for Cricket in India's working committee meeting, Cricket Association of Bihar secretary Aditya Verma shot off a letter to the Justice Lodha Committee, requesting it to recommend administrative reforms in the cricket board.
Pakistan women cricket team's head coach New Zealander Mark Coles has resigned on Thursday, months before the ICC World T20 in Australia.
'The ICC have also expressed some concerns (about the running of CSA) and we believe our decision is warranted, and that it will be embraced by the ICC.'
The Solicitor General said, "Leadership develops at the grassroots level and it remains in the state association. By the time, his time comes for being elevated to the BCCI; he has to go for a mandatory three-year cooling-off period. One cannot become a member of the BCCI if he is not an active member of the state association".
The T20 World Cup is slated to be held in India in October-November 2021.
Here's a quick at the two cousins, Akash and Anmol.
Some of the key faces for various posts will be former India skipper and Hyderabad Cricket Association president Mohammad Azharuddin, former India captain and Cricket Association of Bengal president Sourav Ganguly, former Test player and Karnataka nominee Brijesh Patel.
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