The government-appointed expert committee, which probes incidents of Ola Electric's S1 Pro and Okinawa vehicles catching fires, has added the latest case of fire involving PureEV electric scooter to its investigation, a senior government official told Business Standard. "A team comprising experts from Indian Institute of Science (IISC) and Centre for Fire, Explosive and Environment Safety (CFEES) are investigating the cases. "As soon as the report is submitted, we shall take appropriate action," said Giridhar Aramane, secretary at the ministry of road transport and highways.
Whatever the final outcome of this unhappy episode, one thing is clear: a glass once cracked cannot be fixed. The trust is gone forever and the relationship between two old friends lies in tatters. For now, IndiGo, the airline, will have to learn to soar with two angry and distracted commanders, says Anjuli Bhargava.
The vacancies are learnt to be impacting the I-T department's day-to-day functioning.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
The most important step is delivering what is needed -- a fairer IPO pricing, notes Debashis Basu.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Replying to a query in Rajya Sabha, Finance Minister Nirmala Sitharaman said there was no delay by the Centre in taking action after identification of fraud by the State Bank of India following the forensic report from Ernst & Young.
The mysterious Himalayan 'yogi' who allegedly advised Chitra Ramkrishna, former managing director and chief executive officer of the National Stock Exchange (NSE), on important matters of the bourse could be none other than Anand Subramanian, according to a letter written by former NSE chairman Ashok Chawla to the Securities and Exchange Board of India (Sebi). Subramanian was group operating officer of the NSE and advisor to Ramkrishna during 2015-16. He joined as chief strategic advisor in April 2013.
He also said a total of Rs 38.75 crore, deposited by people in the Karavannur Cooperative bank in this district, which is now facing charges, had already been returned.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
'To keep the next catastrophe at bay, a carbon free economy will be an imperative. 'Our 2000 cc internal combustion engine powered personal cars and public transport may have to give way to electric and hydrogen powered fuel cells. 'The oil refineries which were so much part of my professional life may have to be dismantled and trees planted in its place. 'The smokestacks, which once upon a time represented growth and prosperity, will now be gory symbols of a polluting past,' notes former Hindustan Petroleum chairman Arun Balakrishnan.
After a report mentioned that Facebook overlooked its hate speech policies in cases of BJP MLA T Raja Singh and 3 others, Shashi Tharoor, chairperson of Parliamentary Standing Committee on IT, said the committee 'would certainly wish to hear from Facebook'.
Maharashtra energy minister said the power breakdown in the metropolis was "not a small issue".
Scores of chartered accountants, company secretaries and cost accountants are currently under the regulatory scanner for alleged violations of the companies law with respect to setting up of certain Chinese companies and their subsidiaries in India, according to officials. The apex bodies of chartered accountants and company secretaries, ICAI and ICSI, have together received around 400 complaints on the issue and necessary actions have been initiated. The Institute of Cost Accountants of India has also initiated action against some of their members in the matter.
The Reserve Bank could consider setting up of a Fraud Registry on the lines of Credit Information Bureau to check criminal activities in the financial sector.
United Spirits had earlier forked out a loan of as much as Rs 1,350 crore to UB Holdings.
The BJP member also sought to put the LVB-DBS merger on hold in order to facilitate a forensic audit of the takeover of the assets of both banks.
This demand comes at a time when the government is falling short of its revenue targets due to dwindling tax and low disinvestment receipts. It could account for the dividend in the upcoming Union Budget on February 1. RBI is, however, yet to take a final call on the government's demand and might decide on this at its central board meeting scheduled for February 15 in New Delhi.
To strengthen corporate governance practices and disclosure requirements, Sebi has notified new rules, including that top 1,000 listed firms will have to formulate a dividend distribution policy. The regulator has also put in place a framework in relation to applicability, constitution and role of the Risk Management Committee (RMC) and eased norms for re-classification of a promoter as a public shareholder, according to a notification dated May 5. In addition, the regulator has asked listed firms to make available audio and video recordings of analyst and investor meets on their websites as well as stock exchanges within 24 hours or before the next trading day and also notified rules regarding Business Responsibility and Sustainability Report (BSSR).
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
Changes being driven by Etihad, says a source, after a V-P quits
The mishap occurred at the fifth unit of the thermal power station-II (210 MW x 7) when workers were in the process of resuming operations on Wednesday morning.
The new board will have to provide the NCLT a road map for turning around the company by October 31, which, Kotak said, is challenging, given that the company's issues represent a "moving target"
The rules are being framed to maintain absolute transparency and fair play in investigations.
Perimeter security will be strengthened at army bases under six commands, the sources said.
The Budget proposed abolishing the under-performing, authority of advance ruling, to replace it with a two-member board of advance ruling.
The Enforcement Directorate on Friday said it has issued a show cause notice to the country's largest cryptocurrency exchange for undertaking transactions worth over Rs 2,790 crore in alleged violation of the Foreign Exchange Management Act (FEMA). WazirX, registered under the company named Zanmai Labs Pvt Ltd, was incorporated in December, 2017 as a domestic cryptocurrency start-up and its directors Nischal Shetty and Hanuman Mhatre, along with the company, have been named in the notice issued by the central probe agency after completion of investigation. The agency issued a statement saying that it stumbled upon the transactions of the company during an ongoing money laundering probe into the "Chinese-owned" illegal online betting applications.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
In his letter to Lok Sabha Speaker Om Birla, Tharoor took strong objection to Dubey's remarks on Twitter that 'the Chairman of Standing Committee does not have the authority to do anything without discussion of the agenda with its members'.
The regulator had introduced trading plans to provide an opportunity for those holding possible insider information to legitimately trade, without violating insider trading regulations
Experts regretted that it has taken too long to deliver justice
'We are learning from every patient who is admitted, treated and discharged.'
The apex court also pulled up the Gujarat government for extending the deadline till July next year for hospitals to rectify the building by-laws violations, and said the "carte blanche" notification was in teeth of its order of December 18 last year and people will continue to die in fire incidents.
The Comptroller and Auditor General of India on Monday reported multiple irregularities in the accounts of units under the IT and telecom ministries, including purchases of hardware and software worth Rs 890 crore by NICSI in contravention of rules. In its audit report for financial years 2017-18 and 2018-19, the Comptroller and Auditor General (CAG) has flagged anomalies in the decision taken by state-run telecom firm BSNL, C-DoT, the Department of Posts, ITI Limited and CDAC that had adverse financial implications. "NICSI procured hardware and software costing Rs 890.34 crore through the 'Strategic Alliance' route in contravention of General Financial Rules, 2005 and departmental instructions and thus failed to ensure transparency and competitiveness in the procurement process," according to the CAG report tabled in Lok Sabha on Monday.
World soccer's governing body, FIFA, is expected to pass wide-ranging reforms at a Congress in Zurich next Friday, when a new president will also be elected.
The SC set aside the 2011 verdict of the Kerala high court which had directed the state to set up a trust to take control of management and assets of the historic Sree Padmanabhaswamy Temple.
CoA chief Vinod Rai has made it clear that the CAC comprising Kapil were 'not conflicted'
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
'Infusion of fresh capital, handsome growth in deposits and focus on recovery should bring Yes Bank back on the growth path in the next financial year,' observes Tamal Bandyopodhyay.
'The entire value of LIC is created by its shareholders because after the initial invest net of Rs 5 crores in 1956, the government has not given any additional capital to the LIC.' 'If the corporation has expanded and emerged as the biggest financial institution in the country, it is only because of the policyholders.'
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