The 61-year-old MLA from Islampur seat of Maharashtra has been asked to depose before the federal agency in Mumbai on Friday, they said. Patil, a former minister of home and finance, is also the Maharashtra president of the NCP and is a seven-term legislator.
The Supreme Court has said that Cyrus Mistry's removal as executive chairman of Tata group was justified as a "a person who tries to set his own house on fire for not getting what he perceives as legitimately due to him, does not deserve to continue as part of any decision-making body".
'We would love to have more players entering the market because that is how the business will grow.'
Sebi Chairman U K Sinha has often chastised listed companies for not having enough women on their boards.
Differences between Bakshi, his wife and McDonald's India emerged in mid-2013.
Nita Ambani, wife of Reliance Industries Chairman Mukesh Ambani, on Wednesday became the first woman to be appointed on the board of the nation's largest private firm.
With 600-700 new NPA cases getting admitted into NCLT every month, the demand for resolution professionals is on the rise with their number more than doubling in less than a year.
The Bombay Stock Exchange (BSE) has slapped fines on 530 listed companies for failing to meet a deadline to appoint a women director and boost gender diversity in their boardrooms.
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
Sebi allowed the deal with some riders, five months after it was announced last August.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
LIC is one of the largest Indian shareholders in the country's largest car maker, with a 6.93% stake.
Experts consider Sebi's takeover code in its present form to be on a par with any foreign code governing public mergers and acquisitions.
Anita would be additional director in a non-executive and non-independent role.
The Rajya Sabha on Wednesday passed the Digital Personal Data Protection Bill 2023 by voice vote following a walkout by opposition members over the Manipur issue.
Real estate developer Supertech on Friday was declared bankrupt by the National Company Law Tribunal (NCLT), a move that could have a bearing on 25,000 home buyers of the firm's ongoing projects in the Delhi and NCR region. Acting on a petition filed by the Union Bank of India for non-payment of around Rs 432 crore worth dues, the bankruptcy court ordered the initiation of insolvency proceedings against real estate firm Supertech Ltd, one of the companies of Supertech group. The NCLT said "there has been a default in payment of the financial debt" and appointed Hitesh Goyal as the Interim Resolution Professional (IRP) superseding the board of Supertech Ltd.
Other legal options include approaching the NCLT alleging mismanagement and oppression of minority shareholder
A number of persons fainted after experiencing 'burning sensation' in their throat and chest. Many people who were asleep woke up in panic and scurried out of their homes and alerted neighbours and all of them soon reached the main roads unsure of what to do.
Subhiksha's founder and Managing Director R Subramanian, while refuting the allegations of ICICI Venture, said his company hasn't received any resignations from the nominees of ICICI even though the private equity firm claimed it had withdrawn its nominees.
A 17-year-old boy, who allegedly crashed his high-end car into a motorbike killing two persons in Pune, was granted bail on a surety of Rs 7,500 and an assurance from his grandfather to keep him away from bad company, as per the order.
P P Chaudhary the newly-appointed minister of state for corporate affairs, is monitoring and coordinating actions against shell companies.
Sebi's surveillance department has red-flagged unusual trading patterns in some stocks. Shares of some companies were seen going up ahead of a sharp sell-off.
Since the bankcuptcy law came into effect from December 2016, with every quarter, the recovery rate has progressively been going down, notes Tamal Bandyopadhyay.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
IL&FS group would resolve debt of Rs 55,000 crore by March 2022, the board of the crisis-hit company has stated in its affidavit filed before the National Company Law Appellate Tribunal (NCLAT). While updating the progress of the resolution progress, the IL&FS board, led by Uday Kotak, said Rs 55,000 crore debt would be resolved through asset monetisation, restructuring and insolvency proceeding initiatives. Some of this has already been completed while the rest is at different stages of resolution, it said in a brief snapshot on the progress made in the ongoing resolution process till December 7, 2021, and suggested estimates of progress to be made by March 2022.
The board of Dow Jones and Co. has decided to take no action on the $5 billion unsolicited bid for the company by media mogul Rupert Murdoch's News Corp., the company has announced.
RIL's debt stood at Rs 3.06 trillion as of December 2019, against Rs 2.87 trillion in March 2019.
A top-class board is important from a systemic point of view, more so at a time when the wider financial world and India Inc is chasing the same talent as banks.
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
Over 100,000 small and medium-sized businesses are non-compliant with e-invoicing norms under the goods and services tax (GST) regime, a mandatory requirement for businesses with an annual turnover of over Rs 5 crore. E-invoicing provides real-time access to invoices that are prepared by the supplier on the purchase of goods, allowing faster accessibility to input tax credit, thereby limiting the manipulation of fake credit as it has to be generated before the transaction. "The default has been reported mainly in businesses with a turnover between Rs 5 crore and Rs 20 crore," a senior official informed
The government is not seeking to change the 2012 Supreme Court judgment that backed auction as the preferred mode of allocating telecom spectrum except for narrowly defined sectors such as satellite communication and defence where the auction is not feasible, a top source said on Wednesday.
Explore, engage, participate and excel in as many co-curricular activities and hackathons as possible to improve your self-confidence, communication skills and overall personality, advises rediffGURU Chocko Valliappa.
At present, there is no specific substantive law to deal with unfair means adopted or offences committed by various entities involved in the conduct of public examinations by the central government and its agencies.
A battle royale, fought over 15 long years, comes to an end as a prince and a princess -- grandchildren of the legendary Rajmata Gayatri Devi -- get back the Jai Mahal Palace Hotel from their step-uncles.
After opening close to 1,500 branches in 2022-23, HDFC Bank, the country's largest private sector lender, will continue expanding its branch network at the same speed in the current financial year. The lender says branch expansion is crucial for deposit mobilisation. As of March 31, 2023, HDFC Bank had 7,821 branches, up from 6,342 a year ago.
Since January 2011, a third of firms making such offers failed to meet new floor; current penalties would have been hefty.
Jet's air operator certificate will lapse on May 19.
A two-member bench headed by Justice S J Mukhopadhaya said there is no stay on the Resolution Professional of Essar Steel to disburse the funds among financial and operational creditors of the company.
