Grounded Go First's CEO Kaushik Khona has put in his papers, nearly seven months after the no-frills airline filed for insolvency proceedings. In an e mail to the airline's employees on Thursday, Khona said that November 30 is his last day at the company. Khona had returned to Go First in August 2020 as its CEO.
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'It is not just D Gukesh, Arjun Erigaisi, Praggnanandhaa and Vidit Gujrathi.' 'There are another 20 players just behind them. Nobody imagined this was possible 5 years ago.'
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
A total of 180 NSE-listed companies have not appointed a woman director.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
Ritu Mallya, step mother of Vijay Mallya, has joined the board of Mangalore Chemicals and Fertilisers.
Women from promoter families who have become directors since January this year include Sarala Birla (Century Textiles, Century Enka), Nawaz Gautam Singhania (Raymond Group), Bina Modi (Godfrey Phillips), Saroj Bhartia (Jindal Drilling & Industries) and Deepshikha Khaitan (Cera Sanitaryware).
India's third largest IT company HCL Technologies on Friday reported a flat year-on-year growth in net profit in the March quarter at Rs 3,986 crore. However, the company posted an 8.4 per cent decline in net profit on a sequential basis, amid rising employee cost and tightening IT spends around the world. The company described the performance as "decent" in view of the global macroeconomic conditions.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
Independent directors of Satyam Computers, who agreed to the company's proposal of buying out two promoter-related companies, failed to be independent in 'spirit', industry captains said.
As the economic crisis in Sri Lanka - the world's largest exporter of orthodox tea - continues to rage across the island nation, tea producers in India look to cash in on the opportunity to seize the market. The country's largest tea growing company, McLeod Russel India, expects orders to come in from July. "A huge opportunity is coming up for everyone in India. "McLeod Russel is well placed because we have the capacity for orthodox tea," said Azam Monem, director, McLeod Russel. About 10 per cent of McLeod's production is orthodox tea.
FMCG major Hindustan Unilever on Wednesday reported a 1.53 per cent decline in consolidated net profit to Rs 2,561 crore for the fourth quarter ended March 31, 2024 due to factors such as deflation and softening of commodity prices. The company had posted a net profit of Rs 2,601 crore in the year-ago period, according to a regulatory filing from HUL. Net sales of Hindustan Unilever Ltd (HUL) were almost flat to Rs 15,013 crore in the March quarter.
While four of the directors would be nominated by Tata Sons, the other two would be representatives of Singapore Airlines.
The Enforcement Directorate (ED) has filed a money-laundering case against Kerala Chief Minister Pinarayi Vijayan's daughter Veena Vijayan and her IT firm for receiving 'illegal payments' from a Kochi-based private firm, official sources said on Wednesday.
Directors look at ways to avoid overstretched valuations.
The company on Wednesday said the offer was withdrawn before it could be considered by its board.
The buyback, at Rs 2,100 per equity share, entails up to 7.61 crore shares or 1.99 per cent of the total paid up equity share capital.
The central bank's tough new rules spell major changes in the competitive landscape for financial services audits.
In a letter to shareholders late night, Bostock and three other directors -- Vyomesh Joshi, Arthur Kern and Gary Wilson -- have volunteered not to stand for re-election to the company's board.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
The mutual fund (MF) gross inflows through the systematic investment plan (SIP) route topped the Rs 20,000 crore mark for the first time in a calendar month as investors opened a record 6.4 million SIP accounts despite a spike in market volatility. The number of accounts opened last month was almost 50 per cent higher than the registrations seen in March. "India's MF industry has reached yet another milestone with the SIP book crossing above Rs 20,000 crore in April 2024.
Oyo has recently undergone large-scale corporate restructuring, setting up several subsidiaries and bifurcating operations globally.
With real estate valuations falling and other deals coming unstuck, the current management's improved target faces significant challenges.
Hamied however, will continue to be the Vice- Chairman of the company in a non-executive role effective April 1
Several promoters of suspended companies have floated new entities or taken board seats in other listed companies, which are functional, trading
The Enforcement Directorate (ED) has filed its first chargesheet in connection with a money-laundering probe linked to alleged irregularities in the Delhi Jal Board (DJB), official sources said on Saturday.
Sebi had asked all listed cos to mandatorily appoint at least one woman director.
The Rajya Sabha on Thursday approved a bill to raise the foreign investment limit in the insurance sector to 74 per cent, with Finance Minister Nirmala Sitharaman saying while control will go to foreign companies, the majority of directors and key management persons will be resident Indians who will be covered by law of the land.
WHO has urged people at risk to keep up with their vaccinations with boosters.
The board of directors of Tata Steel, which met on Friday, appointed Jim Leng, chairman, Corus, as a non-executive independent director designated as deputy chairman.
The National Democratic Alliance government is weeding out independent directors on the boards of public-sector undertakings (PSUs).
19 per cent of the directors don't attend three in four board meetings.
With a gradual rise in temperature and the start of heatwave, FMCG and dairy firms selling cola-based fizz drinks, juices, mineral water, ice creams and milk-based beverages expect a spike in sales and have ramped up their production and stocks to meet the anticipated consumer demand. The makers are launching new products keeping in mind the evolving consumer preferences and also investing substantially on promotions and expansion of the channels this season, company executives of beverage and ice cream makers said. Beverages major PepsiCo said summer months are naturally the most favourable season for its category and it is "optimistic" that its portfolio of brands will continue to delight consumers during the period.
According to the revised plan, promoter Naresh Goyal, his wife Anita Goyal and the directors nominated by the promoter would be asked to step down from the board, and the lenders, as part of the resolution process, will infuse around Rs 1,200 crore into the airline as emergency funding.
The remaining two directors would continue to remain with the board for a period of three years and will not be counted in the maximum number of the directors that the company can have as per its Articles, the CLB order said.
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The Companies Bill asked for promoting gender diversity by specifying induction of a minimum number of women directors
The firm has advised United Spirits Ltd's shareholders to vote against the proposal to re-appoint Mallya as director on the board.
