Starting April 1, a non-executive director of 75 years or more can be appointed or re-appointed only by way of a special resolution, which requires 75 per cent 'for' votes.
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
Several big budget movies, including one for Rs 300 crore on Karna and another Rs 1,000 crore movie based on Bhima, have been launched on the same model.
Manufacturing companies in the BRIC (Brazil, Russia, India and China) nations are optimistic about their growth in the next 12 months on expectations of a strong demand following signs of improving economic conditions, a KPMG survey has said.
'Maybe it's time for Plan B for the film industry.'
Uber Eats in India will discontinue operations and direct restaurants, delivery partners, and users of the Uber Eats apps to the Zomato platform, effective Tuesday, a statement said. The deal comes days after Zomato had raised USD 150 million in funding from existing investor Ant Financial, an Alibaba affiliate, at a USD 3 billion valuation.
Africa is second only to West Asia as a net exporter of oil.
Of the 1,145 offers made this year, consulting firms made up 34 per cent, followed by banking, financial services and insurance, pharma/healthcare, IT/ITeS and FMCG/retail.
Indian companies place orders worth $600 million for US crude, which is likely to increase by nearly $2 billion in the near future.
China's biggest carmaker, which own brands like Maxus, MG, Roewe and Yuejin, plans to invest $1 billion in India manufacturing unit, reports Swaraj Baggonkar from Mumbai.
Faced with prospect of its assets across the globe being seized just like Pakistan and Venezuela, the government decided to scrap retrospective taxation but the international embarrassment could have been avoided had 'attached' shares of Britain's Cairn Energy Plc not been sold, according to tax and legal experts. On Thursday, the government introduced a Bill in Parliament to scrap the tax rule that gave the tax department power to go 50 years back and slap capital gains levies wherever ownership had changed hands overseas but business assets were in India. The 2012 legislation was used to levy a cumulative of Rs 1.10 lakh crore of tax on 17 entities, including UK telecom giant Vodafone, but substantial punitive action was taken only in the case of Cairn.
Indian oil and gas exploration companies work in silos.
US major lost its first mover advantage, now wants to secure its investments in the country.
With a string of deals with telecom service providers, DTH operators and Bollywood stars, Netflix goes all out to protect its turf in India and fend off competition, says Viveat Pinto.
According to KPMG survey, BRIC nations are more optimistic about growth in 2008 than US.
Apart from IT and pharma, the lead spenders in travel are construction, automobile and metals and mining companies and together these sectors accounted for 82 per cent of business travel spend in India in 2015, up from 78 per cent in 2013.
Only a lack of long-term vision is the biggest roadblock to India's progress.
are in the process of building one at the Jio Center in Bandra Kurla Complex where the Maker Maxity building used to be. "This theatre will be on the top of the mall and should be able to accommodate 300 cars, and is expected to open sometime in January or February next year.
What sold the most this year? Beauty, toys and baby care, sports and fitness, television and large appliances, followed by fashion, says T E Narasimhan.
Internet, tech, infra, realty in India might gain
India does not feature in the top 100 countries on eight of the 10 indicators of the World Bank study.
Home loans also pose lower bad-debt risks for the banks than corporate loans.
At Rs 2,685 crore for 1MHz pan-Indian spectrum, reserve price would be 52% higher than that of 1,800MHz band
Sources say companies will have to keep the market share of merged entities below 50% in all circles
Blind spots of the company were two-fold - managing cash flow and investments to upgrade technology and continue research and development.
The Chinese government is imposing severe restrictions on their tech companies - whether it is on data security, marketing practices or floating an IPO. Should this be music to the ears of Indian start-ups and home-grown private equity (PE) funds? Ask Indian start-ups and the answer is a resounding "yes".
Nature's Basket is changing its offering. Its new strategy zeroes in on pushing joint ventures, focusing on private labels and reentering Delhi.
Audit firms such as KPMG believe zero complaints may be an indicator of the lack of requisite mechanism to allow for such reporting
India Inc on Saturday cheered the road map for lowering corporate taxation.
Most business groups in India, including Godrejs, Tatas and Mahindras, have seen patience tested in JVs, with some of them winding up quickly
Arun Kumar, partner-in-charge, KPMG US India Practice, delivering his views on the Indian Union Budget 2009 at Asia Society in New York.
Uber India has readied itself for another $500 million (Rs 3,300 crore) investment in the next three months.
Paytm plans to induct 5,000 manufacturers and sellers; has started programmes to identify and train new sellers.
The redevelopment of stations is good news for construction companies.
