In cases such as Infosys, a new CEO will have to play the game with not only the chairman, but also with the COO and the board of directors, and perhaps retired founders, each being a different game with different set of capabilities and attitudes.
Two hours on a platform. Even a dead person has got right to dignity under the Constitution. Even after death the girl's dignity cannot be denied. Why it was lying like an exhibition for more than two hours? It speaks volumes. Why it should take so much time for police to complete the formalities?" the court asked.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
Refutes claims of differences between board, founders and Sikka; board needs to do better scrutiny, says Mohandas Pai.
Proxy advisory firms say the praise on Twitter was uncalled for.
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.
It has also proposed that CEO and managing director Salil Parekh be granted annual performance-based stock incentives in the form of restricted stock units worth Rs 10 crore under the 2019 Plan.
"Reaching an international agreement on how large digital companies are taxed has been a priority for the chancellor since he took office," said a spokesperson for his UK treasury office. "The chancellor's consistent position has been that it matters where tax is paid, and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. That is what our taxpayers would expect and is the right thing," the spokesperson said.
India's salvation lies in job creation by entrepreneurs, say Manish Sabharwal and Ashok Reddy.
Companies spent less money buying back their shares from the public last year than at any time since 2015. They announced buybacks of up to Rs 14,341 crore, show numbers from primary market tracker Prime Database. The total amount spent was Rs 13,597 crore. Both the amounts are lower than what was offered (Rs 39,564 crore) and spent (Rs 36,517 crore) in 2020.
The company expects its 2017-18 revenue to grow between 6.1 per cent and 8.1 per cent in dollar terms and 6.5-8.5 per cent in constant currency terms.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Business executives are finally dusting off their long-unused suitcases to resume travel, thanks to a good vaccination rate, a drop in fresh cases, and an easing of travel restrictions. It comes as a huge relief for the ravaged aviation, travel and hospitality sectors. "We are witnessing a 40 per cent recovery on pre-covid volumes from our business travellers, signalling the return of corporate confidence in air travel," said Indiver Rastogi, president & group head, Global Business Travel, Thomas Cook (India) & SOTC.
Sore points: Sikka's salary, high severance pay to executives, poor disclosures.
While the framework of service delivery and client-focused approach remains unchanged, Nilekani's suggestions, of taking start-ups with newer technologies to clients, are being implemented.
Ending all speculation, Infosys, India's second largest IT services company today announced Vishal Sikka, the former chief technology officer and member of executive board at enterprise software maker SAP, as the new CEO & MD.
Infy board gets law firm to probe 'lapses', appoints Cyril Amarchand Mangaldas to engage with founders.
The country's largest software services firm, Tata Consultancy Services (TCS) on Monday reported a 14.9 per cent rise in consolidated net profit to Rs 9,246 crore for the March 2021 quarter.
The proposed Bangalore School of Economics would be on the lines of Delhi School of Economics, for which the University is awaiting clearance from the Academic Council and Syndicate.
N R Narayana Murthy, who returned as Executive Chairman of Infosys on Saturday, said he will be more effective with his son Rohan as an Executive Assistant but made it clear the latter has no leadership role.
In fact, while IT bellwether Infosys Technologies (his earlier employer) got a drubbing at the bourses for not posting "better than expected" results, iGate stumped investors a couple of days back by announcing it plans to buy back shares from the public and delist from the Indian stock markets, while remaining listed in the US.
The rally was led by IT stocks, with TCS and Infosys rising up to 5 per cent. Yes Bank, on the other hand, was the biggest loser on both the bourses, cracking nearly 12 per cent
Securities and Exchange Board of India (Sebi) chairman Ajay Tyagi on Thursday defended the recent reforms announced by the regulator, such as peak margin norms and shortening of the trade settlement cycle, saying they were in the interest of investors. The moves were criticised by the broking community and the foreign portfolio investors (FPIs). Speaking to the media after his inaugural address at the CII Financial Markets Summit, Tyagi said: "The new peak margin norms are in everyone's interest.
Overseas investors are scared of putting money in India - and this should worry the government, says T V Mohandas Pai, Chairman, Manipal Global Education and former member of Infosys's Board of Directors.
In the last three years, the institute has maintained its fees at Rs 1.58 lakh, stated to be highly subsidised.
When Biocon chairperson Kiran Majumdar-Shaw - well known for raising issues ranging from lack of civic services in Bengaluru to climate change - decided to take on the Indian stock market regulator, the Securities and Exchange Board of India (Sebi), she forced the Indian corporate world and legal community to take notice. In an interview to Business Standard, Majumdar-Shaw called a Sebi order to impose a fine on insider trading charges against a Biocon employee and an external consultant an "Agatha Christie" fiction, which destroyed the reputation of "innocent people". "The order is pure harassment and has caused huge reputational damage to us and goes against the principles of good governance promised by this government," Mazumdar-Shaw said. "We will certainly appeal this," she added.
While some are raising questions over the company's ability to regain its position as the sector bellwether, others believe problems at the company may be "much bigger than anticipated".
Five persons, including three directors of auto spare-part manufacturer, Automotive Axle, had a narrow escape when the helicopter in which they were travelling overturned due to a technical snag at the Infosys helipad in Mysore on Friday.
Employees of some top Indian companies were in for a pleasant surprise when they received a mail from their HR team announcing a hike in salaries and bonuses. Led by IT firms and start-ups, HR managers say that while some have offered cash and stock options, others are in a wait-and-watch mode and add the trend will pick up in other sectors. For example, IT giant Cognizant - which had an attrition rate of 19 per cent in the December quarter - has established a $30-million employee retention fund in order to bring down the high attrition rate.
Where do the four members of the Supreme Court appointed panel to interface with farmers stand on the Modi government's farm laws?
Murthy talks about his role at the company, retirement plans and the direction in which Infosys is headed.
Currently, Deloitte, EY and KPMG with their associates work as statutory auditors of most of the top league domestic IT services firms. Owing to many alleged auditing lapses, the regulators have either imposed restrictions on the audit firms or are seeking to do so.
'The Aam Aadmi Party is the most successful and exciting start-up by an IIT-ian in the history of India,' former Infosys CFO V Balakrishnan tells Rediff.com's Vicky Nanjappa.
Like their international peers, Indian CEOs too have a significant portion of their incomes coming from stock options and performance-linked bonuses
This is reportedly the first time that the names recommended by a search committee have been shot down by the HRD ministry
The event took off with an introductory speech by Dr Ajit Ranade appreciating the achievements of IIT Bombay. Among the other speakers were Dr Anil Kakodkar, chairman of the board of governors, IIT-B, Infosys chief Nandan Nilekani and Prof. R K Shevgaonkar, deputy director of finance and external affairs and the co-chairman of the IITBAA.
Nandan Nilekani, erstwhile CEO and a founder of Infosys Technologies Limited, who is currently co-chairman of its board of directors, offered a peek into his forthcoming book Imagining India, which he said attempts to alleviate a gap in understanding India, while delivering the kick-off Global Leader Lecture at Johns Hopkins University's School of Advanced International Studies.
Murthy no more chairman emeritus; founders do not want to be addressed as promoters.
At Infosys and Wipro, 8,200 roles have been impacted in six months.
The buyback, if successful, will surpass RIL's 2012 share repurchase of Rs 10,400 cr
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