Infosys on Friday said a class action lawsuit filed against the company and some of its employees in the US district court has been dismissed. The move comes after whistleblower complaints alleging certain unethical practices by the top management emerged in October last year.
Sebi on Monday barred total 85 entities, including Sunrise Asian Ltd, from the capital markets for up to one year for manipulating the company's share price. In its order, the regulator restrained Sunrise Asian and its then five directors from the capital markets for one year and the 79 connected entities for six months. The Securities and Exchange Board of India (Sebi) had conducted an investigation in the scrip of Sunrise Asian for the period from October 16, 2012 to September 30, 2015, based on a reference received from the Principal Director of Income Tax (Investigation), Kolkata.
Often these IDs sit on the audit committee of the board or even chair it.
The Reserve Bank of India (RBI) on Monday fixed the tenure of MD, CEO and whole-time director (WTD) in a private sector bank at 15 years and prescribed the maximum age of 70 years for such functionaries. These directives form part of the instructions issued by the RBI with regard to the chair and meetings of the board, composition of certain committees of the board, age, tenure and remuneration of directors, and appointment of the WTDs on Monday. The RBI said it would come out with a Master Direction on Corporate Governance in banks in due course.
'In the history of India this kind of scores and ranks has never happened in exams.'
The International Cricket Council, on Tuesday, appointed media professional Manu Sawhney as its new chief executive officer, replacing incumbent David Richardson, who will step down after the World Cup.
Software services firm Infosys Technologies has imposed a fine on its chief executive officer S 'Kris' Gopalakrishnan and an independent director Jeffrey Sean Lehman for violating company rules.
Billionaire Gautam Adani's son Karan will helm the cement firms his group has acquired to become India's second largest cement player and extend his burgeoning empire that spans from ports and energy to airports and telecom.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
Companies making electric two-wheelers, through their association Society of Manufacturers of Electric Vehicles (SMEV), have taken on the Department of Heavy Industries (DHI), saying they did not get subsidies for even half the mandated 1 million units they manufactured. Subsidies are given under Faster Adoption and Manufacturing of Hybrid and Electric Vehicles 2 (FAME II). In a petition to the parliamentary standing committee on industry energy and estimates, the SMEV said the department had done an "accounting error" by showing that it (the department) was close to achieving the mandated target by including sales of the EVs that were "not funded" under the scheme.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
Britannia Industries Ltd has decided to appoint CC Chokshi & Company to examine all relevant papers and material and submit a report to the company's board.
The fee of Rs 6 lakh consists Rs 1.5 lakh in respect of each application for each alleged offence by the company and Rs 25,000 by each of the current and former key managerial personnel for each alleged offence.
'Nitish Kumar is fooling the people of Bihar.' 'He will not probe anything because if he does so, he will be trapped himself.'
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
The Pakistan Cricket Board (PCB), on Thursday, formally initiated a legal battle against the Board of Control for Cricket in India by filing a compensation claim of $ 70 million before the ICC for not honouring a bilateral cricket series agreement.
Independent directors were supposed to safeguard the interest of all stakeholders.
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
'Rs 1.25 crore is the monthly expense we are able to hardly get 60-70 lakh rupees therefore we have sought certain directions,' the temple told SC.
'The people of Tamil Nadu in particular Chennai know about the double standards of the BJP. Nothing will work for them here.'
The crucial hearing on the PILs by a bench headed by Chief Justice D Y Chandrachud assumes significance in the wake of recent developments in which the Centre agreed to the apex court's proposal to set up a committee, likely to be headed by a former Supreme Court judge, to look into the regulatory regimes.
The company board, wherein Siddhartha's wife Malavika Hegde is also a director, met on Wednesday to put in place a working structure of the company.
Delhi's previous biggest daily jump of 28,395 cases was recorded on April 20 last year.
The health system is trying to ensure that it isn't caught by surprise -- the way it was last time. So, hectic preparations are on.
Sebi has pushed for better corporate governance of listed companies through measures such as the need for a succession policy
Vempati previously worked with Infosys and now heads an online media company.
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
The death toll climbed to 4,51,814 with 379 fresh fatalities, according to the data updated at 8 am.
Etihad to have 2 directors even if it dilutes stake to 15%
The recovery notice issued by the Directorate of Information and Publicity (DIP) also includes the interest on the amount and makes it mandatory for the ruling party in Delhi to pay the whole amount within 10 days, the sources said.
Expressing 'pain' at his death and extending condolence to the family of the doctor, Chief Minister Mamata Banerjee said his contribution to fighting the COVID-19 outbreak would encourage others.
Rajiv Bansal's severance payment was Rs 17.38 crore
It noted that the government could not accurately anticipate the gravity of the possible resurgence of the pandemic and its subsequent waves.
The company has raised its revenue outlook for FY2019-20 in constant currency to 10-10.5 per cent, from its topline guidance of 9-10 per cent given in October.
Holding simultaneous polls for the Lok Sabha and all assemblies would need any no-confidence motion to be coupled with a 'confidence motion' by a leader proposed as next prime minister or chief minister, while any mid-term election can be conducted only for remainder of the term, the Election Commission had said earlier.
International Cricket Council Chief Executive Manu Sawhney has been sent on 'leave' after his conduct came under the scanner during an internal investigation by audit firm PricewaterhouseCoopers and may resign before his term ends.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
