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.
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.
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.
Kochhar brothers stepped down from the board of Credential Finance by 2009. While Deepak Kochhar started NuPower Renewables, Rajiv set up Avista Advisory Group
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.
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.
While seeking response from former Union minister and senior advocate Kapil Sibal, representing AIMPLB, the bench said, "Don't infer anything from our side."
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
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.
Board of Control for Cricket in India CK Khanna hailed the decision to appoint Sourav Ganguly as the president of the cricket governing body.
"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.
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.
'The Chinese can't be trusted hence the need to verify and re-verify.'
IPL governing council chairman Brijesh Patel said "everything is on schedule currently'.
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 prospects of India becoming a credible manufacturer of defence platforms or major weapon systems for export are remote, says Vice Admiral Premvir Das (retd).
With COVID-19 cases declining, Karnataka government on Monday permitted re-opening of schools for students of classes 1 to 5 from October 25 by strictly adhering to precautions and guidelines against the coronavirus.
The function at India Gate will begin at 9 am, Joint Commissioner of Police (Traffic), Alok Kumar, said.
Private equity firm Carlyle Group and associates will acquire a controlling stake of over 50 per cent in PNB Housing Finance by investing in the Rs 4,000 crore preferential issue of equity and warrants of the Delhi-based mortgage lender. After the proposed transactions, expected to be completed by January 1, 2022, Carlyle will also have the right to nominate the chairperson of PNB Housing Finance (PNB HF). This right will continue as long as it holds at least 40 per cent of the share capital on a fully diluted basis.
There is a high demand for IT professionals who can envision, design and develop applications for the future.
The bank has hired US-based advisory firm Korn Ferry to help with the selection process.
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
Mamata Banerjee, on Monday, congratulated former Indian cricketer Sourav Ganguly,
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 bank will now be in a position to resume normal lending activity, including corporate lending, with tightened risk management framework.
The Securities and Exchange Board of India's (Sebi's) technical advisory committee has been mandated to probe the trading halt at National Stock Exchange (NSE) and fix accountability. The committee after a detailed examination would send its findings and recommendations to whole-time member Madbhi Puri Buch, to decide the future course of action, said two people in the know. The panel, which is currently chaired by Ashok Jhunjhunwala of IIT Madras, is learnt to have sought an explanation over two key issues from NSE: One on the effectiveness of interoperability as it was unable to migrate the trading positions; the other on laxity in switching it to the disaster recovery site.
Railway Budget has not discriminated against any state.
The England Cricket wrote, 'We CANNOT wait to have you back with us!'
'If the Bangladesh-China relationship strengthens further, it can only be to India's detriment,' notes Vice Admiral Premvir Das.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Gaurav Mehta, one of 100 'Young Global Leaders', is tapping entrepreneurs inside rural Indians.
'If she contests it, then these people will have to fight it in court.'
It remains to be seen how Powar works alongside Mithali, who had accused him of bias after the Harmanpreet Kaur-led T20 team dropped the veteran batter for the all-important World Cup semi-final against England.
The prime minister in his intervention at the session on "global economy and global health" also flagged the issue of facilitating international travel and talked about the mechanism of mutual recognition of vaccine certification as a means of achieving this, according to the text of his intervention shared by his office.
The 47-year-old Ganguly was officially entrusted with the task of heading Indian cricket for the next nine months at the BCCI's General Body meeting in Mumbai, ending a tumultuous 33-month reign of the Supreme Court-appointed Committee of Administrators (CoA).
In the high profile co-location case, markets regulator Sebi on Wednesday imposed a penalty of Rs 1 crore on the NSE for failing to provide a level-playing field for trading members subscribing to its tick-by-tick (TBT) data feed system. In addition, the regulator levied a fine of Rs 25 lakh each on NSE's former managing directors and chief executive officers Chitra Ramakrishna and Ravi Narain. Alleged lapses in high-frequency trading offered through NSE's co-location facility came under the scanner of the watchdog after a complaint was filed in 2015.
The aircraft involved in the incident were operating on Coimbatore-Hyderabad and Bengaluru-Cochin routes.
