Pai said more and more people -- whether they are employees, or investors or others -- are coming to the conclusion that this Board has to go and a new one has to come.
Franklin Templeton Asset Management (India) on Monday said the Securities Appellate Tribunal (SAT) has stayed Sebi's order, whereby the regulator had barred the asset management firm from launching any new debt scheme for two years. In addition, the regulator had asked Franklin Templeton to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to its six debt schemes which are now shut. "With reference to the order issued by Whole Time Member(WTM) of Sebi on June 7, 2021, Franklin Templeton Asset Management (India) Pvt Ltd filed an appeal and an application for stay before the Hon'ble SAT. "After hearing the parties, the Hon'ble SAT has stayed the operation of the order passed by the WTM," a Franklin Templeton spokesperson said in a statement. The matter has been listed on August 30, 2021 for further directions, he added.
'Trust your new governor,' Omkar Goswami advises RBI Deputy Governor Viral Acharya. 'Just because he is from the IAS and doesn't carry a PhD from a US university does not make him unsuitable for the task.' 'If anything, Das will pour oil on troubled waters, and save the RBI's reputation.'
Zee Entertainment last week witnessed shareholder activism that saw an open call for the ouster of promoters and the incumbent management led by Punit Goenka. Besides, Dish TV also faced a similar call earlier this month. The trouble at Zee Entertainment can be gauged from the fact that this is a unique company wherein the promoters own just 3.99 per cent, but fully control the firm.
The first flight to land at the Delhi airport from London on Friday was Air India's AI112 that had 256 passengers in it, said Gauri Agarwal, founder of the Genestrings Diagnostic Center.
In the age of robots and automation, skills such as people management, coordination and negotiations will be relevant, says Babita Shekhar.
This was the companies' highest loss in two years.
On Thursday, Sri Lanka Cricket announced that India's limited overs tour in June-July was postponed indefinitely.
Dravid is allegedly conflicted as he is the NCA Director and also employed as vice-president of India Cements group, which owns IPL franchise Chennai Super Kings.
Channels across the board from news to general entertainment, music and movies telecast half-hour to one-hour advertorials promoting these products, mainly during non-prime time hours
The travel ban will come into effect from 11.59 pm on Saturday, April 24, and is subject to review after 10 days.
Jyoti 'Jay' Chaudhuri, general counsel and senior adviser to the state treasurer of the US state of North Carolina, was elected chairman of the board of the Council of Institutional Investors, last month.
To ensure transparency, the Third Eye Cinema Fund has roped in various agencies as auditors and advisors.
Chushul and Depsang are not vital in this game of Chinese checkers, the Indian Ocean Region is. Keeping our maritime prowess restricted has to be a key Chinese strategic interest and it would appear that the LAC affair has helped China achieve its aim, points out Vice Admiral Premvir Das (retd).
BCCI president Sourav Ganguly said the "first priority is safety" after the Board suspended the start of this year's IPL from March 29 to April 15 in wake of the coronavirus pandemic. The BCCI also called off the ongoing three-match ODI series against South Africa.
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
While seeking response from former Union minister and senior advocate Kapil Sibal, representing AIMPLB, the bench said, "Don't infer anything from our side."
Mahindra will serve as a mentor and sounding board for the managing director on issues to be presented to the board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the managing director on key issues facing the enterprise.
'That would once and for all teach all the film-makers of this country a fitting lesson!'
Risk is difficult to evaluate, warns Harsh Roongta.
This year's T20 World Cup is set to be moved from India to the UAE with the BCCI acknowledging that none of the participating teams would be 'comfortable' coming here because a third wave of COVID-19 cases is expected at the time of the event.
Rahul Bajaj, one of the most successful business leaders in the country, has finally decided to hang his boots at Bajaj Auto, the company he nurtured and steered to one of the leading firms in two and three-wheeler space. The non-executive chairman of the Pune-based two and three-wheeler maker has tendered his resignation which would come into effect from close of business hours on April 30, 2021, Bajaj Auto said in a regulatory filing. In place of Rahul Bajaj, the company has appointed Niraj Bajaj as chairman with effect from May 1, 2021, it added.
Recently, the finance ministry waived off basic customs duty and health cess on imported oxygen and related equipment for three years.
In a move to plug gaps in the Insolvency and Bankruptcy Code (IBC), the ministry of corporate affairs (MCA) has proposed robust norms against avoidance transactions, wrongful trading, and inordinate delays via changes to look-back period and fixed timelines for the tribunals to reject or approve plans, among other measures. The MCA has proposed that the IBC should provide the adjudicating authority with 30 days for approving or rejecting a resolution plan under Section 31. If a decision is not made on the resolution plan within that period, the adjudicating authority will record reasons in writing for the same, the ministry has proposed.
The Reserve Bank has revoked the deposit-taking status of Dewan Housing Finance (DHFL), the first financial services firm to go for bankruptcy proceedings, and has reclassified it as a non-deposit taking housing finance company, before approving the Piramal group's bid to take over it towards the end of the resolution process. The revelation comes in the June 7 NCLT Mumbai order that has approved the Rs 35,250-crore bid for the once second largest mortage lender by Piramal Capital & Housing Finance, forcing over 65 per cent haircut on the creditors and just Re 1 to its NCD holders to whom it owes more than Rs 45,000-crore. On the 14th page of the 86-page NCLT order by HP Chaturvedi and Ravikumar Duraisamy, it says DHFL no longer is a deposit taking NBFC but a non-deposit taking one.
BCCI to seek SC approval to relax tenure reform
"I think, this is something that all Indians should be concerned about because strength of our institutions is really important for our growth, sustainable growth and equity in the economy," said Rajan.
Board of Control for Cricket in India CK Khanna hailed the decision to appoint Sourav Ganguly as the president of the cricket governing body.
Nilekani has kept pace with technology advances, has been instrumental in digitalising the country, and is well-networked with the bureaucracy and global leaders
The recently-created flexi-cap fund category is emerging as the hottest segment in the Rs 11-trillion equity mutual funds (MFs) space. Buoyed by the success of ICICI Prudential Flexicap Fund, other MFs are lining up new fund offerings (NFO) in this segment. Industry players say the flexi-cap category could emerge as the biggest segment in the equity MF space. Recently, ICICI Pru Flexicap's NFO collected a record Rs 10,200 crore.
IPL governing council chairman Brijesh Patel said "everything is on schedule currently'.
'The Chinese can't be trusted hence the need to verify and re-verify.'
Sebi on Monday barred Franklin Templeton AMC from launching any new debt scheme for two years and fined it Rs 5 crore for violating regulatory norms in the case of winding up of six debt schemes in 2020. Also, it has been asked to refund investment management and advisory fees to the tune of Rs 512 crore, including interest, collected with respect to the six debt schemes, Sebi said in its 100-page order. In a separate order, the regulator has barred Vivek Kudva, former head of Asia Pacific (APAC) for Franklin Templeton, and his wife Roopa from the securities market for one year for redeeming units of Franklin Templeton MF schemes while in possession of non-public information.
Railway Budget has not discriminated against any state.
The Securities and Exchange Board of India's (Sebi's) planned research analyst regulations will also apply to proxy advisory services which provide advice on corporate governance and issue voting recommendations to institutional shareholders regarding company resolutions.
The prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
The function at India Gate will begin at 9 am, Joint Commissioner of Police (Traffic), Alok Kumar, said.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
There is a high demand for IT professionals who can envision, design and develop applications for the future.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
