Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
The UGC chairperson stressed that foreign varsities with campuses in the country can only offer full-time programmes in physical mode and not online or distance learning.
A UGC panel has recommended that words such as 'Hindu' and 'Muslim' be dropped from the BHU and the AMU.
As Delhi hospitals faced a severe oxygen crisis for the third consecutive day, the DDMA roped in three senior bureaucrats on Thursday to ensure a smooth movement of tankers and facilitate oxygen supply to the needy establishments, and directed the police to provide the security logistics from the manufacturers' sites to various health facilities in the city.
The whistle-blower may strongly feel about the issues he had raised.. the regulator will follow the due legal process and decide, Balakrishnan said.
Tightening Initial Public Offering (IPO) norms, capital markets regulator Sebi on Friday cleared the proposal mandating the issuers to disclose the offer price based on past transactions and fund raising activities. In addition, the board of Sebi approved a proposal introducing an alternative mechanism by permitting "pre-filing" of offer documents for companies contemplating IPOs. Under this, an issuer should make "pre-filing" of offer documents with Sebi and stock exchanges without making it available to the public for an initial scrutiny period only.
I have no hesitation to say that the cultural milieu is different, said chairman R Seshasayee in a rare media interaction.
There are concerns in the industry around budget cuts by clients and layoffs, as enterprises grapple with reduced earnings amid lockdowns across various parts of the globe.
Chief Minister Arvind Kejriwal urged the Centre to provide medical oxygen to Delhi.
The average time lag between the date of occurrence of a fraud and its detection is 23 months; for large frauds (Rs 100 crore and above), it was 57 months.
The panel had issued a notice to Facebook India vice president and managing director Ajit Mohan last week, asking him to appear before it on September 15 in connection with complaints about the social media giant's alleged deliberate inaction to curb hateful content in the country.
The deal, part of the Jaypee Group's plan to cut Rs 60,000-crore debt, follows months of negotiations.
BJP's Adhikari said that an opposition MLA is usually appointed as the PAC chairperson following the norm, but the TMC misused that rule to appoint Roy as its chairman.
'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
Leader of Opposition Suvendu Adhikari objected to Roy's elevation, arguing that the MLA, who had crossed over to the ruling Trinamool Congress last month after winning the polls on a BJP ticket, cannot be considered a legislator of the saffron camp.
The bench said the Union Cabinet Secretary will be the convenor of the task force and may nominate an officer not below the rank of Additional Secretary to depute for him, when necessary.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
Post-bribery disclosure, Cognizant is not pursuing greenfield expansion in the country and relying on leased facilities for new demands. The incident, which came to light in 2016, is also said to have claimed 200-300 jobs so far mainly in areas like administration, legal, and procurement.
Banks do extensive investigation before declaring an account fraud; they owe it to us as they deal with our money. Why would they try to fix an innocent borrower? asks Tamal Bandyopadhyay.
There were no evidence of any kickbacks, inappropriate contracting or unreasonable expenses
According to an official statement, the Facebook official has been summoned based on 'scathing depositions of key witnesses as well as incriminating material' submitted by them on record.
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 social audit of all childcare homes across the country was ordered in 2018 when cases of sexual exploitation of girls were reported from childcare institutions in Deoria in Uttar Pradesh and Muzaffarpur in Bihar.
'The situation is especially serious in major hotspot districts or emerging hotspots like Ahmedabad and Surat (Gujarat), Thane (Maharashtra), Hyderabad (Telangana), and Chennai (Tamil Nadu),' the MHA statement said.
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.
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
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 vacancies are learnt to be impacting the I-T department's day-to-day functioning.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
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.
'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.
New FMC directives for MDs & CEOs; regulator also wants half the directors on commodity exchange boards to be independent.
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".
Changes being driven by Etihad, says a source, after a V-P quits
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.
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.
