"As an organisation committed to the rule of law, our operations in India have always conformed with our national regulations. The principles of transparency and accountability are at the heart of our work.".
With investors asking for a change in the board structure at Byju's, the edtech giant's founder and chief executive officer (CEO), Byju Raveendran, is now asking them to put $300 million into the company for more control. The company has rung up $5.8 billion from investors such as General Atlantic, Sofina, the Qatar Investment Authority, Sumeru Ventures, Vitruvian Partners, BlackRock, Chan Zuckerberg Initiative, Sequoia, Silver Lake, Bond Capital, Tencent, and Tiger Global.
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 Adani group will have understood the fragility of investor trust in the group. The group needs to improve transparency including in areas like share-ownership (which they have long and mistakenly believed can be side-stepped) and related-party transactions, among others, Amit Tandon and Hetal Dalal point out.
'On hard cases like this one, the Supreme Court has only episodically stood against Parliament and the executive government.' 'I worry that this decision sets a precedent where President's rule is imposed in another state... and during the operation of President's rule, the state is fundamentally altered.'
The average age of those who died was 80.3, and 90 per cent of the fatalities were aged 65 or over, the Hong Kong-based South China Morning Post reported.
The Reserve Bank of India's ongoing inspection of the book of accounts of Syndicate Bank is unconnected with last week's arrest of S K Jain, its chairman and managing director.
'Just the amount of work which is there just to become more and more successful in banking. For this to happen you need to have leaders who understand technology.'
'It leads to more investment, more money put in R&D, expansion and modernisation.'
With more firms now offering stock options to their chief executives, the salaries of these managers are sky-rocketing.
In a boost to the embattled Adani Group, Mauritian Financial Services Minister Mahen Kumar Seeruttun has told the nation's Parliament that Hindenburg Research's allegations of the presence of 'shell' companies in the Island nation are 'false and baseless' and that Mauritius was in compliance with OECD-mandated tax rules. US short seller Hindenburg on January 24 alleged that billionaire Gautam Adani used shell companies based in Mauritius to manipulate stock prices of his Indian-listed companies.
A landmark climate change deal was clinched on Saturday with the approval of India, China and the US, after days of tough negotiations in Paris.
'It is especially discouraging for young people in the development sector. I've noticed that many of them are actively considering other career options to escape this atmosphere.' Geetanjali Krishna reports.
If India Inc sincerely feels the separation of posts is not a good governance measure, it must spell out its doubts clearly to Sebi and give cogent arguments rather than mundane ones like India is different, argues J N Gupta, member, Kotak committee on corporate governance reforms.
Indian authorities failed to "prevent many incidents of religious violence and contributed to tensions through polarising speeches", Amnesty International said.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
Dispute over IPR was a bone of contention in bilateral ties till a couple of months ago.
"India should also be a powerhouse in world football but it is not, because of match-fixing in cricket for goodness sake'
Employees allege breach of transfer policy, accuses HR of non-transparency; protests to resume on October 22
'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.'
Greenpeace on Friday termed as part of "relentless onslaught" by the government cancellation of its FCRA registration that barred the environmental organisation from receiving foreign funds and said those in power cannot "muzzle" dissent in a democracy.
'There is no meritocracy or at least there is none that is visible and transparent.' 'The Congress has two opportunities to change this,' says Aakar Patel.
'Criticism that Amnesty is interested in those in favour of independence for Kashmir is unfounded.'
Kalyan Jewellers is eyeing overseas expansion by catering to India-like markets and the diaspora
In a society where corruption is endemic and you want to get something done then it is all too tempting to offer a bribe, Swraj Paul said.
Prime Minister Narendra Modi on Thursday launched the ambitious 'Make in India' campaign to make India a global manufacturing hub, create jobs and boost economic growth.
Vice President Dhankar's and Law Minister Rijuju's recent interventions have the danger of destabilising the Constitutional equilibrium, cautions N Sathiya Moorthy.
India has reached a significant milestone on Friday (November 28) by achieving Rs 100 lakh crore or 100 trillion market cap.
Nobody understands the deep causes of defeat and victory better than the defeated. The defeated have been to all the battlefields. They have looked into the eyes of their soldiers and those of the opponents, says Aakar Patel.
Proceeds of the crime had been siphoned off and laundered or concealed, or layered and integrated into the main financial system through the acquisition of properties. His wife Bindu Kapoor has been charged with being aware of the source of monies that were being routed through these companies.
Erin Green, former head of immigration, Infosys says says only the loss of a big client could push Infosys to correct its internal corporate culture.
For some of the business majors, the fund outgo for the 2019 elections has risen as much as 15 to 20 times, compared to the amount given to political parties five years ago.
E-auction or e-tendering moves the process of bidding for government contracts completely online, removing most manual procedures and, therefore, creating an accountability trail.
India's MRP and Packaged Commodities Acts are dated and not in line with the modern world's digital price mechanisms and comparisons.
India and the United States settled a dispute on Thursday that had paralysed the World Trade Organization and risked derailing a $1 trillion package of reforms.
Bids to be evaluated according to guidelines by the civil aviation ministry, following which a buyer will be selected. Transfer of control to the buyer to be effected by June-end.
'Which one of us would give up our flats for development?' 'We insist that others, who are unwilling but weak, make all the sacrifices on our behalf and then we are puzzled when there is violence against the State,' says Aakar Patel.
Private banks are assumed to be more efficient at intermediating between depositors and investors.
A consortium of 26 lenders led by the SBI, with 51 per cent stake in the debt-trapped airline, has invited bids from potential suitors.
Helen Brand offers a CA's view on protectionism, money laundering and how India's implementation of Ind-AS will make it more attractive to investors.
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