Naresh Goyal-led Jet has also changed the shareholders agreement and amended the investment agreement and the articles of association, as suggested by the Foreign Investment Promotion Board, headed by DEA Secretary Arvind Mayaram, official sources said.
Deepa Gahlot picks 10 Web series that was worth the viewer's while.
Slew of resignations at NSEL over past month in the wake of scrutiny; MCX gaps caused by new-age norms for commexes.
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 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 move is aimed at making it easier to do business in India.
RPTs are globally recognised as an important component of the ease of business index.
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".
Ten months after new Sebi norms set in, some senior directors still hold more board seats than allowed.
The CBI later clarified that Rajiv Kochhar was only called for questioning and has not been apprehended yet.
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 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.
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.
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.
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".
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.
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.
'Airports must look at their maximum capacity to handle passengers.'
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.
'Professors can teach even when they are 90 because they don't lose their skill with words. Go deeper and there's spirituality in it.'
A lot depends on how Srei shapes up under the new administrator and his team, which is critical for investors' interest.
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
Five Indian-origin women executives have made it to Barron's prestigious annual '100 Most Influential Women in US Finance' list for achieving positions of prominence in the financial services industry and helping shape its future. Barron's is a sister publication of the Wall Street Journal, published by Dow Jones and Company. "The list honours established and emerging leaders in financial services, the corporate world, nonprofit organisations, and government," the magazine said in a press release.
The Insurance Regulatory and Development Authority of India (Irdai) will look at Indian executives for all top posts at insurance companies.
Six entities including four foreign portfolio investors (FPIs) are under lens for suspicious trading in Adani group shares prior to the release of the damning Hindenburg report, the Supreme Court-appointed expert committee has said. There was a build up of short positions in the Adani scips prior to the January 24 release of the Hindenburg report, and substantial profits were booked thereafter as stocks crashed, the 178-page report said. A "short" position is generally the sale of a stock one does not own.
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.
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This is the third meeting between the two parties, including one in which the Company Law Board had taken part.
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.
It is estimated that RCom has been reeling under debt of over Rs 46,000 crore.
The draft regulations in this regard are expected to be approved by the board during the meeting.
Attributing the delay in debt servicing to a liquidity crisis, the company said its total indebtedness was Rs 518 crore.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
'The Insolvency and Bankruptcy Code cleans up non-performing assets and puts companies in capable and credible hands.'
The Supreme Court on Thursday ordered setting up of a six-member committee headed by former apex court judge Justice A M Sapre to investigate the recent Adani group shares crash triggered by the Hindenburg Research's fraud allegations and other regulatory aspects related to stock markets.
Governments must give companies a hearing before blacklisting them.
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.
Twitter "took extraordinary steps to suppress" The New York Post's Hunter Biden laptop story, removing links and posting warnings that it may be "unsafe."
The Ministry's decision comes more than a year after the payment scam at NSEL came into light in July 2013.
The dinner Jill Biden and her husband US President Joe Biden hosted for Indian prime minister Narendra Modi, June 22, at the White House brought together, Indians and Americans from so many firmaments.
The company had issued 2.66 million shares to its employees.
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