While Ambani, 66, drew nil salary from the company since the 2020-21 fiscal year, other executive directors including his cousins Nikhil and Hital are paid a salary, perquisites, allowances and commission. His three children - twins Akash and Isha (both 31) and Anant (28 years) - will get only a sitting fee and a commission on the profit earned by the firm.
Three senior executives have resigned from Byju's at a time when the most valuable edtech company has been trying to address challenges such as due diligence issues, legal battles with lenders, challenges in raising fresh capital, and a markdown in its valuation by investors. Prathyusha Agarwal, the chief business officer of Byju's, has quit, according to sources. They said Himanshu Bajaj, business head of Byju's tuition centres, and Mukut Deepak, business head for Class 4 to 10, have also moved on.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
The company is also focusing on its Georgia tea and coffee brand. The company recently launched energy drink 'Burn' in selected markets of Delhi, Goa, Mumbai and Bangalore. Singh said India was a strategic market for Coca Cola.
'We are going to have hybrid cars, which, as far as I know, none of our competition is working on, and this includes ethanol.'
The Adani group has exited the financial services business by selling its entire 90 per cent stake in Adani Capital and Adani Housing to private equity (PE) firm Bain Capital for Rs 1,440 crore. The total valuation of the Adani financial services business stands at Rs 1,600 crore. Gaurav Gupta, managing director (MD) and chief executive officer (CEO) of the Adani firms will hold the rest of the stake.
'This is not just the IREDA's IPO. It is the success of the ministry of new and renewable energy and of the renewable energy industry.'
'However, we have seen weakness in our active pharmaceutical ingredients business.'
The final episode on Karan Johar's Koffee With Karan has social media sensation Orry make his debut.
Laxman Narasimhan, a veteran in leading and advising global consumer-facing brands, has been named as the new CEO of coffee giant Starbucks, joining a growing cohort of Indian-origin business leaders at the helm of global corporations.
Avoid high risk transactions even if they seem more profitable.
Following the party's sweep of assembly elections in three Hindi heartland states against the odds, the BJP's brain trust is now busy game-planning as to how it can improve on its 2019 Lok Sabha election tally of 303 seats.
From the pinnacle of Veer Zara's teary romance, the transition to Pathaan and Jawan must have entailed a lot of resetting, rewiring, and recalibration in the mind. But SRK has done it. And done it well, notes Sandeep Goyal.
Ratan Tata is Maharashtra's first Udyog Ratna.
'We carry 6.5 billion passengers every year. We have crossed seven billion this year, and are targeting 10 billion by 2030.'
The spectacular opening ceremony for the Shanghai World Expo on April 30 would have surprised no one.
"Looking at the films come to life on set was a lot of fun. The lensing, the art direction and Prakash Sir's detailed eye. It felt like something special was brewing," says Naina Bhan.
More than the revenue component, the movies gain hugely in terms of visibility and reach, reports T E Narasimhan.
Both partners would inject $200 million each in the form of equity and hold 50 per cent stake each. They plan to raise another $600 million in the form of debt to create a corpus of $1 billion to develop malls across tier-I, II and III cities.
800 gets so lost in celebrating its grand subject that it forgets something pretty elementary: Cricket is a team sport!, notes Sreehari Nair.
The government is busy strategising ways to revive the domestic mobile device industry as Chinese firms have grabbed a large chunk of the handset market. The idea is to minimise competition from Chinese mobile players in the entry level or sub-Rs 10,000 category, according to a senior government official familiar with the plans. While discussions on the strategy are on, there's a growing consensus within the government that the lower end of the market should be reserved only for the domestic players, the official said.
The company changes the names of its many sports channels, such as the acquired ESPN and dedicated Star Cricket, to Star Sports 1-4, that will bear out its multifarious sports strategy.
'We all face challenges in life. It's our approach towards them that absolutely decides what you become.'
History of electronics indicates that no company, nor any nation for that matter, has been able to cement pole position and maintain it through several cycles. he death of its iconic promoter, Lee Kun-hee, raises questions over how long the chaebol can maintain its gigantic footprint in the global electronics industry, says Devangshu Datta.
Instagram, owned by the tech giant Meta, on Wednesday, unveiled its new app called 'Threads' a new app designed to directly compete with Elon Musk's Twitter. According to The Hollywood Reporter, a US-based media house, Meta Platforms Inc. CEO Mark Zuckerberg announced the launch, framing Threads as "a new, separate space for real-time updates and public conversations." Threads will be linked to users' Instagram profiles, making it simple to connect with followers, prominent personalities, or brands.
Nifty has a virtual monopoly in the index derivatives segment.
The $100-billion SAIC would have a dedicated manufacturing facility in India, and would be the first Chinese automaker to do so.
It took a one-word message from England captain Ben Stokes for spin all-rounder Moeen Ali to come out of his Test retirement.
FM said every major terrorist incident in the world has a 'Pakistani footprint' around it.
How dominant are Chinese firms in India's sub-Rs 10,000 mobile device market? The question has become relevant as the government has been thinking of reserving this price segment for domestic players who have not been able to battle the Chinese onslaught. However, telecom firms and others are concerned that such a move could stymie the effort to build affordable 5G phones in the sub-Rs 10,000 category.
'I am confident that TCS's best years are ahead,' outgoing CEO tells staff in farewell email.
'We do realise it is time to have a larger ambition.'
Mumbai Indians elevate Jayawardene, Zaheer to new central roles
This, Byju, was the time to apply the business lens, treat your company as a business, run your company as a business. Instead, you splurged, observes Suveen Sinha.
Parag Milk Foods, Prabhat Dairy, Hatsun Agro are sharpening their gaze on the retail space and buttering up their customers.
The apex body of software and services companies in India, Nasscom, on Monday said it was focussing on ways to promote development of more software products.
The government has asked Chinese mobile companies to increase their exports from India and there is no proposal to ban the sale of handsets below Rs 12,000 made by such firms, Union Minister Rajeev Chandrasekhar said on Monday. The Minister of State for Electronics and IT also said that Indian companies also have a role to play in the country's electronic ecosystem but it does not mean exclusion of foreign brands. "Only issue that we have raised and done very transparently with some of the Chinese brands is that we have said that our expectation is that they will do more exports.
This was the first time in the history of SA cricket a senior team had reached the final of a World Cup.
Fast-moving consumer goods major Dabur India is set to enter the branded spices and seasoning category. It has signed an agreement to acquire 51 per cent in Badshah Masala for a cash consideration of Rs 587.52 crore. The acquisition, the company says, is in line with its strategic intent to expand its food biz to Rs 500 crore in three years.
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