The board meeting is scheduled to be held on Tuesday to discuss the PwC report findings on Grover's conduct. There have been allegations of financial irregularities against him. According to sources, Grover in his resignation letter said that he is being forced to bid adieu to a company of which he is a founder. Grover alleged in the letter that he and his family have been embroiled in baseless and targeted attacks by a few individuals, who are ready to not only harm his reputation, but also the reputation of the company. Queries sent to Grover did not elicit any immediate reply.
Ten months after new Sebi norms set in, some senior directors still hold more board seats than allowed.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
'For a responsible person like him to utter such nonsense is shameful.' 'He is not fit to be a director on the RBI central board.'
The Supreme Court in its order said it was not open for SP group companies to call Ratan Tata a "shadow director" when the board of which Cyrus Mistry was chairman had nominated him as chairman emeritus of the USD 100 billion salt-to-software Tata group.
The CBI later clarified that Rajiv Kochhar was only called for questioning and has not been apprehended yet.
Volkswagen is under huge pressure to act, with its shares down more than a third in value since the crisis broke, and the bad news still coming.
The protesters assembled outside Dogra Chowk in the heart of the city and tried to take out a march in violation of prohibitory orders when the police swung into action and restored to mild lathicharge before detaining several of them, the officials said.
The air carriers' liability and insurance draft bill has proposed a five-fold increase in compensation in case of death or injury, the report said.
'I am grateful that this film has happened, it makes me so proud of the country and of the Indian Army.' Brandy Batliwala, Field Marshal Sam Manekshaw's eldest grandchild, on the man behind the hero.
On Friday, Biden announced his intent to appoint 14 people to the advisory committee, which provides overall policy advice to the United States trade representative on matters of development, implementation, and administration of the US trade policy.
Under the ambit of probe is how former exec Eric Alexander obtained medical records of woman who was raped by an Uber driver in Delhi in 2014
He supervised and handled several major big ticket insolvency cases that includes Essar Steel, Bhushan Power & Steel, Bhushan Steel, Jaypee Infratech, ElectroSteel Steel, Binani Cement, Reliance Communications.
The Insurance Regulatory and Development Authority of India (Irdai) will look at Indian executives for all top posts at insurance companies.
.jpg)
This is the third meeting between the two parties, including one in which the Company Law Board had taken part.
The Securities and Exchange Board of India's (Sebi's) proposal to re-introduce "hard underwriting" is seen as step to boost India's moribund initial public offering (IPO) markets. The regulator has proposed that in case an IPO fails to garner full subscription, the investment banker or a third-party can buy the unsubscribed shares. This practice was common during fixed-price issues prior to 1999. However, under the new book building regime, underwriting is allowed only to the extent of shortfall due to technical rejection of bids - this is referred to as "soft underwriting" and is rarely invoked.
The draft regulations in this regard are expected to be approved by the board during the meeting.
Future Retail Ltd (FRL) on Wednesday said it is "committed" to reversal of takeover of its stores by Reliance Retail and will take all such action as may be necessary to seek value adjustments. The Kishore Biyani-led firm also said the action of the Reliance Group has come as a "surprise" to it. Moreover, the action of taking possession of its stores has "complicated" the positive scenario which had started building up after a CCI order in December 2021, FRL said in a regulatory filing.
Governments must give companies a hearing before blacklisting them.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
The company had issued 2.66 million shares to its employees.
The order was issued on Thursday by the deputy commissioner of police (operations) in view of inputs received by the police about disturbance of peace, law and order, danger to human life and property, the official said.
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
While Waryam Singh was a non-executive director at HDIL, he is listed as one of the promoters of the company and had relations, including shareholding, with several other entities controlled by the Wadhawans, the HDIL founders.
With Sebi telling the Supreme Court that it was not investigating the Adani group since 2016, the Congress on Monday cited a Union minister's reply in the Lok Sabha to challenge the claim and asked whether Parliament was misled or the market regulator was "fast asleep" as investors were "duped".
Expecting an annual CSR spending of Rs 15,000-20,000 crore (Rs 150-200 billion) by India Inc, Corporate Affairs Minister Sachin Pilot has asked companies to see the new law as an investment opportunity to create a better work environment, rather than a forced expenditure.
The Supreme Court is scheduled to pronounce on Thursday its order on a batch of PILs on the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations.
Two investment firms, together accounting for 17.88 per cent of the paid-up share capital of Zee Entertainment Enterprise Ltd (ZEEL), have sought the removal of the current managing director Punit Goenka from the board of the company. The two investment firms are -- Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, the largest shareholder of ZEEL. The two firms have called an extraordinary general meeting of shareholders seeking to remove Punit Goenka.
NCLT in its judgement said: "The removal of Cyrus Mistry as executive chairperson was because the board lost confidence and not because they were contemplating that he would cause discomfort to Ratan Tata, N Soonawala and others.' "The Board is competent to remove an executive chairman. Mr Mistry's removal from the position of director came because he admittedly sent out company information to the I-T (department), press, and came out in public against the board and the trust."
The Life Insurance Corporation of India has the wherewithal to acquire a composite license, a top source aware of the development told Business Standard, adding that the insurance behemoth may look into entering the health and general insurance segments. "LIC has the scale, capacity, IT infrastructure, and the distribution reach to take advantage of the composite license. "LIC is looking at organic as well as inorganic growth opportunities.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
'Airports must look at their maximum capacity to handle passengers.'
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
The CJI has also kept with himself matters concerning arbitration, habeas corpus, criminal cases, contempt of court and ordinary civil matters.
Deepa Gahlot picks 10 Web series that was worth the viewer's while.
CPRL Board may meet this week to decide if the outlets in the north and east of India can be kept open till the matter is settled in courts
Reliance Industries on Saturday said its Rs 24,713-crore deal with the Future Group cannot go ahead as secured creditors of the latter have voted against it.
In what could result in a complete overhaul of the Insolvency and Bankruptcy Code (IBC), the insolvency regulator has sought public comments on the regulations it notified under the code to date. The Insolvency and Bankruptcy Board of India (IBBI) has given a window of eight months ending December 31 to all stakeholders to share their views on its regulations. IBBI has called the exercise "crowdsourcing of ideas".
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances