'The CEO will neither be able to guide the senior team in operational matters nor decide on their appointment, compensation or removal.' 'Yet, the CEO is responsible for the profit and loss of the bank!' 'Why would the senior executives listen to him?' 'Which self-respecting professional would want to be a CEO with these constraints?' asks Tamal Bandyopadhyay.
One thing is for sure: It smacks of the regulator's lack of confidence in the bank's board, points out Tamal Bandyopadhyay.
Earlier this month, Sobha Kapoor and Ekta Kapoor, part of the promoter group of Balaji Telefilms, faced shareholder ire when they failed to obtain the requisite votes on resolutions proposing pay increases for them. In recent months, several promoter-directors, including Siddharth Lal of Eicher Motors and Pawan Munjal of Hero MotoCorp, have faced similar situations. Clearly, large institutional shareholders - and public shareholders - are not taking kindly to promoter-directors upping their remuneration takeaways at a time when the prospects of business recovery are clouded by the anticipated third wave of the Covid-19 pandemic.
'There are unscrupulous traders who create fake invoices by showing bogus e-way bills, movement of goods.' 'Since the entities registered across different states, and kept on changing their numbers, tracing them was difficult.'
Gandhi has submitted the bill in Parliament but it is yet to be introduced.
With hotels and restaurants being barred from levying service charge, waiters, chefs and other workers are worried they will lose out on money and are planning to approach managements to seek a pay raise. They are also apprehensive that tips given by customers out of goodwill will dwindle. Uttarakhand-native Prakash Singh Koranga, 27, a chef who works at an outlet of popular franchise Moti Mahal Deluxe restaurant in south Delhi, said service charge which gets proportionally divided among the staff acts as an "extra income" and "incentive to give our best at the job".
On Saturday night, the fire broke out at BM Container Depot in the Kadamrasul area in Sitakunda Upazila in Chittagong.
The Supreme Court Thursday ordered that the report of a high-level committee on the role of erring police officials in the 1994 espionage case relating to Indian Space Research Organisation scientist Nambi Narayanan be given to the Central Bureau of Investigation and directed the agency to conduct further investigation on the issue.
The T20 World Cup is slated to be held in India in October-November 2021.
The government intends to continue with the top GST slab of 28 per cent for luxury and sin goods, but is open to discuss narrowing down the three slabs of 5, 12 and 18 per cent into two, Revenue Secretary Tarun Bajaj said on Monday. Addressing the industry leaders, Bajaj said the rate rationalisation exercise of the GST Council is a result of introspection of GST, five years after its rollout, and the policymakers do not have a "fetish" to raise the tax rates to the revenue-neutral level of 15.5 per cent. On the industry demand for bringing petroleum products under GST net, he said since fuel constitutes a larger part of their revenues, both the Centre and states have some apprehension.
On May 8, the apex court had directed that these buildings be removed within a month as they were constructed in a notified CRZ, which was part of the tidally-influenced water body in Kerala.
The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,197 crore a year ago, a regulatory filing said. Infosys' revenue grew 22.9 per cent to Rs 31,867 crore in the quarter ended December 2021 from Rs 25,927 crore in the year-ago period, it added.
The Pakistan Cricket Board is miffed that International Cricket Council chairman Shashank Manohar defended BCCI's decision to not play bilateral series with them during the arbitration meeting on their decision to file a compensation claim of US$ 70 million against the Indian Cricket Board.
The overwhelming feeling at the end of COP 27 was that despite decades of meetings and landmark accords, like the Paris Agreement, the world was still not doing enough to slow the climate crisis, observes Ambassador T P Sreenivasan.
Upset over the denial of a ticket, former Union minister and Bharatiya Janata Party veteran Jaswant Singh on Sunday said he has decided to contest the Lok Sabha elections as an independent from Barmer constituency in Rajasthan and will file his nomination papers on Sunday.
A bench of Justices DY Chandrachud and Hima Kohli said an attack on individuals does not mean it is an attack on the community but it needs to verify the claims of any such incident if it is made in the public interest litigation.
'It is also being done in violation of our Forest Tribal Act because it will involve the eviction of the tribals living in these forests.'
BCCI has approved 10-team IPL from 2022 edition and are backing ICC's bid for cricket's inclusion in 2028 Olympics after some clarifications from IOC.
Deputy Chief Minister Manish Sisodia and Environment Minister Gopal Rai visited the Eidgah in Mustafabad and interacted with locals besides taking stock of facilities being provided by the government at relief camps.
A new Congress leader may make an electoral impact by his very presence. Congress voters who had moved away from the party, after being influenced by the BJP's 'family rule' campaign, can now return with a certain moral satisfaction, observes N Sathiya Moorthy.
The Central Bureau of Investigation (CBI) has set up four teams, each headed by joint directors Ramnish, Anurag, Vineet Vinayak and Sampat Meena, to probe the political violence which ensued after the victory of the Trinamool Congress (TMC) on May 2 in a bitterly fought eight-phase assembly poll in West Bengal.
Religious rights of every person are subject to "public order", the Supreme Court said on Monday while dismissing the plea of a man seeking to exhume the body of his son, who was dubbed a terrorist and killed in an encounter in Kashmir in November 2021, so the family could conduct his last rites in the same graveyard.
Assocham president Niranjan Hiranandani said his talks with government officials showed dues to industry and states were pending in the form of refunds of income tax, value-added tax, and GST, and compensation, payments to discoms in the power sector, fertiliser subsidies, etc.
Another farmer leader and SKM member said the agitation is likely to be called off on Wednesday as there have been some positive responses from the government side on the farmers' demands.
Generally, the central bank grants its approval by mid-March, or latest by March 31, but most banks have not received RBI approval on bonus packages this year.
The committee, which was formed by the National Human Rights Commission chairman on a direction by a five-judge bench of the high court, also said that these cases should be tried outside the state.
Sorabjee had been honoured with Padma Vibhushan in 2002 for his defence of the freedom of expression and the protection of human rights.
The government further defended its move to introduce fixed-term employment, insisting that the present system of hiring workers through contractors is exploitative.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
The Chinese authorities have been rapidly building defence infrastructure along the Line of Actual Control, indicating that they are preparing for a long period of tension with India, points out Jayadeva Ranade, the former senior RA&W officer and China expert.
The Paralympic Committee of India on Wednesday washed its hands off the reported incident of a blind para-swimmer being left to fend for herself in Berlin, saying the sanctioned amount could not be distributed due to the non-availability of court-appointed committee chairman.
The family, which had refused to conduct his last rites, was assured that they would be provided Rs 10 lakh compensation, a contractual job for a dependent and a house under Indira Awas Yojna besides removal of a local revenue officer and a station house officer, police said.
On Wednesday, the Indian Weightlifting Federation (IWF) wrote to the sports ministry to comply with the High Court order.
The Madras High Court has set aside a notification of the central government, fixing 120 kmph as the speed limit for vehicles plying on highways.
Ford dealers in India are staring at huge losses with the automaker deciding to shut production in the country with immediate effect, automobile dealers' body FADA said on Thursday. Terming the company decision as shocking, the industry body noted that the dealers have invested over Rs 2,000 crore in creating sales infrastructure while employing around 40,000 people across the country. "The auto retail fraternity is really shocked to hear another Ford India's announcement where it has said that it will shut down production with immediate effect," FADA president Vinkesh Gulati said in a statement.
The fire broke out at the Prime Criticare Hospital at Kausa in Mumbra locality near Thane at 3.40 am. There were no coronavirus patients in the hospital, he added.
If retrenched workers are unable to reskill within a fixed period of time, they will have to return the money given to them by the government. Moreover, they may be asked to pay back an interest on the sum transferred.
A major Gurjar organisation on Thursday called off its agitation over reservation after reaching a consensus with the Rajasthan government, a community leader said.
It is unusual in democratic countries two decades into the 21st century for laws to become regressive instead of progressive. But that is clearly what is happening in India today and more of this is ahead, asserts Aakar Patel.
Merely bringing down the government stake below 51% may not find any taker for the PSBs. The government must bring down its holding to at least 26%, recommends Tamal Bandyopadhyay.
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