The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
In a circular dated May 20, Sebi had directed the listed companies to evaluate the impact of Covid-19 on their capital and financial resources, profitability, liquidity position, assets, and ability to service debt. Instead, companies have spoken about the number of plants, warehouses and distribution centres that have resumed operations; work-from-home and safety measures undertaken for employees; and the labour shortage they are facing.
ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.
The onus is on companies to put in place a vigil mechanism to detect and deter fraud.
The recent circular follows the 'true-to-label' concept, but large funds in the multi-cap category may be forced to merge in the absence of sufficient small-cap options.
Such listings will help internationalise our currency, give us economic heft, compel best in class regulations and further develop the professional-services ecosystem., says Amit Tandon.
If the Personal Data Protection Bill gets passed in its present form, a new class of companies and entities could emerge. The sole job of these new entities would be to manage the consent for data usage of a user.Banks, healthcare firms and fintech companies, among others, fear that sharing non-personal data with the government may hurt business interests. Banks also fear the threat of data misuse.
Murthy's charges, he said, are patently false and slanderous.
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The war of words that has broken out between Vikram Bakshi and McDonald's Corporation is the latest in the long list of ugly spats between Indian businessmen and their overseas collaborators.
The minister, while replying to the debate on Taxation and Other Laws (Relaxation and Amendment of Certain Provisions) Bill, 2020, was responding to various issues raised by the Congress and other Opposition parties about the PM CARES Fund.
In January, Sebi had barred Mallya and six former officials of USL from securities markets in a case related to illegal fund diversions.
Flipkart is in expansion mode, needs to infuse funds in the firm.
'Expectations were being built up about radical moves and the action plan did not disappoint.'
Experts point out that National Anti-profiteering Authority does not have the power to advise companies on depositing amounts voluntarily.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
Infosys, in April, had said that it will pay up to Rs 13,000 crore to shareholders during the current financial year through dividend and/or share buyback.
United Spirits had a tough time in recent past due to management related issues. Going ahead, corporate governance is a big challenge, say experts.
Investors also appreciate the role being played by the founders; analysts, too, remain unperturbed.
'If a gaming regulator is able to save even a single player's life or is able to just enforce the existing laws of the land, it works,' says cyber policy expert Prashant Mali.
According to the draft, in the northeastern states the threshold is at Rs 500,000.
"We are waiting for the post-mortem report which will make it clear how the death happened," Patil told reporters at Mangaluru.
Rajiv Kochhar, who was asked to appear at the CBI office in Mumbai, was examined about the loan and his links with Venugopal Dhoot, the promoter of the Videocon Group, and Videocon.
Insolvency professionals feel the bankruptcy code will deter defaulters, but NPAs will not cease unless banks are sensitised on credit appraisal and experts are hired by banks to inspect what is happening with their loans.
The tax computation compares the original cost, along with the stock value on January 31, and grants benefit of the higher of the two.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
At the NSE, the stock zoomed up by 8 per cent to Rs 444.
'I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,' says S Muraleedharan, former managing director, BNP Paribas.
Balakrishnan refused to react to the India Inc criticism of growing incidents of tax terrorism following Siddhartha's letter. Appearing unfazed, he said, "I only believe in doing my job well."
A bench of Chief Justice Ranjan Gogoi and Justice S K Kaul said the case will be heard on January 8.
In a three-page letter to Facebook Chief Executive Zuckerberg, Prasad alleged "bias and inaction" by individuals in Facebook India team on complaints by people supportive of right-of-centre ideology.
Stakeholders' Empowerment Services (SES) has advised Diageo to renege on its deal with United Spirits (USL) chairman Vijay Mallya.
