The six-member board -- comprising HDFC chairman Deepak Parekh, former Nasscom president Kiran Karnik, former Sebi member C Achuthan, CII chief mentor Tarun Das, renowned chartered accountant TN Manoharan and LIC nominee Suryakant Balakrishnan -- met in Hyderabad on Thursday for the third time after it was constituted January 12.
We should now think positively and look at options and opportunities, says Deepak Parekh.
HDFC Ltd chairman Deepak Parekh on Thursday blamed the Rs 400-crore (Rs 4-billion) Citibank fraud to absence of specific guidelines for wealth management and expected regulators to come out with norms in this regard.
The line-up of authors at the Times of India Literary Carnival said something about the city that hosted it. Abhishek Mande reports.
On the current liquidity crunch, the HDFC chief said that it was on account of certain cash outgo due to tax and 3G payments but the liquidity position is likely to improve by end-July.
President A P J Abdul Kalam presented the awards at a function at the Ashoka Hall of the Rashtrapati Bhavan.\n\n
The government is likely to appoint more directors on the board of the crisis-ridden Satyam Computer Services soon. "More directors will be appointed within two days," a senior official of the Ministry of Corporate Affairs said.
The government's help to the crisis-ridden Satyam Computer Services may include financial support as well, as it is a question of saving jobs and institutional investment, Commerce and Industry Minister Kamal Nath said.
Expressing shock over the terrorist attack in Mumbai claiming about 100 lives, the Indian industry on Thursday demanded tougher laws along with 'stronger and firmer' leadership to tackle terrorism.
The US is less concerned about who's jailed and more about a huge compensation from BP.
If the Bhopal judgment results in independent directors and CEOs/plant managers waking up to their responsibilities, that can only be a good thing.
HDFC chairman Deepak Parekh on Monday said that he expected property prices to come down by 20 per cent in the next six months even as there is an upward pressure on interest rates.
Sooraj R Barjatya was judged Best Director for the Hindi movie Uunchai at the National Film Awards.
The government today expanded the three-member Satyam board to six to include S Balakrishnan of Life Insurance Corporation, Tarun Das, chief mentor of the Confederation of Indian Industry and T N Manoharan, former president of the Institute of Chartered Accountants of India.
Swinging into action on the very first day of taking charge of the scam-tainted Satyam, its three-member board on Monday announced that top management would be changed and every effort made to address the prime concern of liquidity, including asking main clients to make advance payments.
A top company official said, "We are still waiting to receive any communication from the new board. we might make a presentation to the new board."
Called Default Option, it is a life-cycle fund under which the amount of money invested in equity would be more in the initial stages while in the later stages, more money would be invested in debt instruments.
The Reserve Bank is likely to hike interest rates marginally in the fourth quarter of this fiscal to give a signal to the market, a top financial sector expert said.
Speaking on the sidelines of an AIMA summit in Kolkata on Thursday, HDFC chairman Deepak Parekh said there was a possibility of lending rates going up, as the cost of deposits was rising.
The board -- which includes, Kiran Karnik, T N Manoharan, former chief, ICAI, and HDFC chief Deepak Parekh, appeared relieved after a marathon run of selecting a bidder for the scam-tainted firm.
Within hours of going on indefinite strike, the employee unions of BSNL on Tuesday called off the protest after the government assured that the issue of disinvestment in the telecom PSU will be referred to a Group of Ministers.
State Bank of India's decision to freeze home loan interest rates at 8 per cent for a year has stirred a controversy with the country's largest mortgage player HDFC on Tuesday terming the move as a 'gimmick'. SBI executives retorted by saying that the package was not a 'teaser rate', as HDFC chairman Deepak Parekh described the move.
Sources said, though the board did not meet officially on Monday, the members were engaged with some of the prospective lenders to overcome the financial problems.
The board, whose size was doubled with the induction of three members on Thursday, is likely to elect a new chairman to steer the company out of the financial mess that its founder Ramalinga Raju led it into.
Setting apart something like 10 per cent of GDP every year for investment in infrastructure is going to be a new experience for this country -- and long overdue.
"Land is the riskiest form of speculative real estate, which is why there are huge swings in land value," said Deepak Parekh, Chairman, HDFC in a key note address at a function organised by the Federation of Indian Chambers and Industry in Mumbai on Wednesday.
The country's largest home loan player HDFC on Wednesday said that it may have to raise lending rates further if the Reserve Bank of India (RBI) increases key policy rates in the forthcoming monetary policy review on July 29. HDFC has been arguing that the effective borrowing cost is a little over 5 per cent if the tax benefits are included.
Parekh in a video address to employees expressed delight on leading the iconic company
The board had earlier said that the bidder will be announced on April 9.
Housing Development Finance Corporation Ltd has sold its 50 per cent stake in Intelenet Global Services Ltd, a business process outsourcing company, to Barclays Bank Plc for Rs 164 crore (Rs 1.64 billion).
Bid evaluation committee wants the combine's 'amicable extrication' from the project.
Housing Development Finance Corporation said on Wednesday the interest rates on home loans will not go up till March 2005, subject to developments in the financial markets.
The change comes into effect from Monday, a HDFC spokesperson told PTI in New Delhi. This reduction will be on fresh loans and applicable to all disbursements up to October 31.
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