The initial public offering (IPO) market has come to a grinding halt due to sharp correction in the broader markets and uncertain outlook created by the Russia-Ukraine offensive. So far this year, only three companies have managed to launch their maiden share sales. In comparison, close to 10 companies were able to come out with their IPOs during the same period last year. Investment bankers say it will be challenging to launch a single deal in March as large institutional investors have turned extremely risk-averse and don't wish to commit any capital.
The first high-level meeting of the Special Investigation Team on the issue of black money and special probe into cases of unaccounted funds stashed away abroad by Indians will be held in New Delhi on Monday.
It has been a year since the Reserve Bank of India (RBI) initiated prompt corrective action (PCA), an exercise that puts weak banks under central bank scrutiny, against the 94-year-old Lakshmi Vilas Bank (LVB). But recently, this low-profile Chennai-headquartered bank found itself attracting some unwonted publicity when 60 per cent of its shareholders voted against a proposal to re-appoint seven directors, including one of the promoters, K R Pradeep (who holds around 2 per cent), and the company's managing director & chief executive officer S Sundar.
Sebi has now proposed that the Companies Act should also clearly mention that a person should vacate the office of a director if it orders his or her disqualification.
The Supreme Court on Thursday directed that former Unitech promoters Sanjay Chandra and Ajay Chandra be shifted from Tihar Jail in Delhi to Mumbai's Arthur Road Jail and Taloja prison in Maharashtra after the ED said they were conducting business from the premises in connivance with the staff.
"When matter is pending for CBFC's consideration, how can persons holding public offices comment on whether CBFC should issue certificate or not? It'll prejudice decision making of CBFC... All concerned people, holding responsible posts must be guided by rule of law and shouldn't venture into passing comments on films which haven't been cleared by CBFC. It'll prejudice minds of board members while taking a decision," a Supreme Court bench hearing the plea observed.
'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.
Film certification guidelines need contemporary interpretation and should be as non-discretionary as possible, Information and Broadcasting minister Arun Jaitley said on Saturday as he met the government-appointed Shyam Benegal panel to look into the revamp of Censor Board, in Mumbai.
The Income Tax department will hold public meetings every Wednesday to resolve taxpayers grievances and tax issues as part of the 'Good Governance' initiative mooted by Prime Minister Narendra Modi.
The Enforcement Directorate arrested Yes Bank founder Rana Kapoor under money-laundering charges in Mumbai in the early hours of Sunday, officials said. The banker was held under the provision of the Prevention of Money Laundering Act (PMLA) around 3 am as he was allegedly not cooperating in the probe, they said.
Senior New Delhi-based journalist R Rajagopalan, who has been closely following the Union Budget preparations since 1977, lifts the veil off India's most secretive operation.
The parties, including the Communist Party of India-Marxist, the Samajwadi Party, the Rashtriya Janata Dal and the Trinamool Congress, said they will collectively oppose the Union home ministry's order issued on Thursday.
'Today, these fringe groups are demanding that Rajni sir's film be stopped.' 'What is there to stop them from doing the same with more films in the future?'
Most banks led by the State Bank, have or are going to declare DHFL account as NPA in the third quarter.
The ECB has been trying to convince both the BCCI and the Cricket South Africa to agree to play a tri-series later this year but nothing has been finalised as yet.
'Those who are talking of adopting the Narasimha Rao-Manmohan Singh policy must understand now that what was a reform then is no longer a reform now,' argues Sukumar Mukhopadhyay who was associated with the 1991 economic reforms.
The expected interest rate hike in the US and the resultant volatility in the domestic secondary market could play a dampener to the over Rs 2-trillion initial public offering (IPO) pipeline in 2022. IPOs in 2022 look promising, with as many as 35 companies holding the Securities and Exchange Board of India's approval to raise roughly Rs 50,000 crore. Another 33 companies are waiting for the regulator's nod to raise around Rs 60,000 crore next year.
In a nation divided by many things, the 12-digit unique identity number is holding lives to ransom.
The latest updates from Bollywood!
RBI proposed that at least half of the compensation of a CEO should be variable. It also said that stock options should be part of the variable pay, against the extant practice of keeping it beyond and above the scope of the official compensation package.
'He's at best a holding-CEO. Not one who will re-imagine the bank,' a senior banker and former colleague tells Raghu Mohan about HDFC Bank CEO & MD Sashidhar Jagdishan.
As if wanting to be an antidote to the coronavirus pandemic, the Indian stock market adorned carnival robes in 2021 with a tsunami of liquidity unleashed by global central banks coupled with supportive domestic policies and the world's largest vaccination drive sparking off a world-beating rally on Dalal Street, despite bouts of uneasiness over fizzy valuations. While the wider economy shuttled between recovery and relapse, dictated by multiple mutations of the virus, equity market benchmarks appeared headed in just one direction -- skywards. The dizzying upward journey has added a whopping Rs 72 lakh crore during 2021 to investors' wealth, measured as the cumulative value of all listed shares in the country, taking it to nearly Rs 260 lakh crore.
A look at the top tweets from your favourite Bollywood celebrities:
For some, he's a bully and probable 'blackmailer' who targeted the rich and famous, especially in Bollywood, for fame, and allegedly, ransom. For others, he's finally the one brave narc who decided to do his job, no matter how powerful his quarry, observes Shekhar Gupta.
'This was an unprecedented and tough situation.' 'I am glad that following a balanced approach we resolved the task at hand in a pragmatic and positive manner.'
Patra, as executive director of the central bank, was the principal advisor to the Monetary Policy Department since July 2012.
'Investigation directorates have intensified actions in detecting serious irregularities.' 'They are seriously handicapped because of non-availability of manpower.'
The seizure occurred during raids at eight premises of a group engaged in sand mining in Tamil Nadu.
Players will undergo temperature checks and observe social distancing guidelines as laid out by the government. With dressing rooms, players and support staff will need to arrive in full kit for training.
This is the first time that this important nodal national agency for economic intelligence has obtained data on suspected offshore stash of Indians as, till now, such information was only received by the exclusive wing of the Central Board of Direct Taxes.
'We felt a documentary on an Indian Nobel laureate referring so insensitively to our politics and religion could result in a serious breach in the peace and harmony of the country.'
The overall pass percentage was 83.01 per cent as against last year's 82.02 per cent.
Over 4 mn bank accounts could be dormant, suspects tax department.
According to a report in 'ESPNcricinfo', the players are likely to meet with Bangladesh Cricket Board (BCB) officials later on Wednesday.
'Apart from Satya -- which was a very good film -- Manoj Bajpayee has not featured in any hit in the 10-12 years of his career. Who is he to talk about my career? He should worry about his own.' CBFC chief Pahlaj Nihalani lashes out.
Isn't it time to review the 'fit and proper' criteria for banking licence, particularly with reference to individuals applying for it, asks Tamal Bandyopadhyay?
The case relates to alleged violation of norms by directors of the aviation company for relaxation of 5/20 rules to get licenses for international operations
RBI has cited "legal impediments" in sharing the reports.
PNB took the delivery of these high-end luxury cars worth approximately Rs 1.34 crore last month, unmindful of the coronavirus outbreak, subsequent nation-wide lockdown and its crippling effect on the financial sector as well as the economy. The annual depreciation on this purchase will be around about Rs 20 lakh.
'There are large cohorts of students who cannot recognise the alphabet or numbers.' 'We are suggesting schools 'start early and end late'.'
