L&T is pursuing a controlling stake of 66 per cent in the mid-tier IT firm, for Rs 10,700 crore.
Going by the provisions of the new company law, the responsibility and accountability equation for independent directors has seen a major change.
Sukanya Verma lists her 15 favourite Hindi songs of 2022 in no particular order.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
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.
The biggest spend (Rs 4,406 crore) was for Schedule VII (II), which involves "promoting education, including special education and employment enhancing vocation skills, especially among children, women, elderly and the differently abled and livelihood enhancement projects". The FY19 spend was 17.2 per cent higher than Rs 1,0128.3 crore spent during the previous year.
In absence of hard facts, the group risks losing public trust, says the firm, which has investment from the Tatas
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
The system of 'selecting' an election commissioner, which is before the Supreme Court, must be institutionalised.
Prime Minister Narendra Modi on Tuesday directed officials to ensure safe evacuation of all Indian citizens from Afghanistan and to provide refuge to Sikhs and Hindus wanting to come to India from there, as he chaired a crucial high-level meeting in the backdrop of the Taliban takeover of the war-torn country, sources said.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
With markets expected to remain volatile, promoters and lenders exposed to the industrials and materials space can face brunt of the price erosion of the pledged shares.
Over 10 Indian start-ups with total valuations of $84 billion (some are planning fresh fund-raising) are bracing to launch initial public offerings (IPOs) in the next 36 months. While the size of their IPOs is under discussion, estimates are that they would together raise a minimum of over $8-10 billion during the initial listing.
Modi said at a time when people are about to vote for the future of the state, "I want to offer you gratitude for your blessings and affections."
Ayushmann Khurana, who is shooting, was missing at the celebrations.
Analysts question negative net worth because of dividend payout ahead of IPO.
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
'If she contests it, then these people will have to fight it in court.'
Of the 80 new appointments, 51 women are becoming directors.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
Corporate affairs ministry sending notices seeking details of fund disbursal
It was curtains down on the high-decibel campaigning for the fourth phase of the Uttar Pradesh assembly polls as sparring among political rivals intensified during the last-minute canvassing on Monday.
Sukanya Verma lists her favourite songs of the year.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
India's cash-rich promoters are not the same as the wealthiest. For example, Mukesh Ambani is the richest Indian based on his stake in Reliance Industries, followed by Premji, the Adani family of the Adani group, and Radhakishan Damani of Avenue Supermarts.
The onus of the tax dues of Rs 22,100 crore on Vodafone India's British parent could also fall on the merged entity.
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Scindia, earlier met Prime Minister Narendra Modi and Union home minister Amit Shah in New Delhi.
Infosys needs to be more innovative and disruptive with its product and services, keeping its focus on growth.
Radha Mohan Singh appointed in-charge of politically crucial UP. Kailash Vijayvargiya will continue to be the in-charge of West Bengal and he will be assisted by BJP national secretary Arvind Menon and party national IT cell head Amit Malviya.
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The new provisions strengthen the hands of minority shareholders and will improve corporate governance.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Organised players have been the biggest beneficiaries after the lockdowns were lifted. Given real estate is not as expensive now, players want to take advantage of the trend.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
The hits and misses of the week.
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
Bank CFOs may meet next week to discuss minimum public shareholding and takeover rule issues.
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