Till now, there was no provision in the Companies Act that allowed a remuneration for the non-executive director if the company was in loss or had inadequate profits. Only the executive director was entitled for a remuneration in the event of a loss.
One of the changes being proposed is allowing LLPs to issue non-convertible debentures.
Eveready Industries India will launch a new category in Financial Year 2024-25 (FY25) as it works to double revenue, said a senior executive of the country's largest dry cell battery maker. It could be an adjacency or a new product under the Eveready brand and a final decision is expected by the end of this financial year. "We are currently working on that exercise; it's on the drawing board," said Suvamoy Saha, managing director of Eveready.
There was no postal intimation to unitholders who didn't have a registered email address, according to a letter that Midas Touch Investors Association sent to Sebi.
Tejas Networks, a telecom and network firm, on Thursday said an arm of Tata Sons will acquire controlling stake in it for nearly Rs 1,890 crore in a multi-step deal. The company has executed definitive agreements with Panatone Finvest, a subsidiary of Tata Sons (Tata group holding firm), it said in a statement. As part of the agreement, the company will make a preferential allotment of 1.94 crore equity shares at a price per equity share of Rs 258 per share aggregating to Rs 500 crore to Panatone.
"We are ready to evaluate purchase for any additional shares including from the IndusInd Bank. But, our headroom is about four per cent. We will keep our holding below 25 per cent," Dabur India Vice Chairman Mohit Burman told PTI from Greece on Sunday.
The change in ownership is expected to give a fresh lease of life to the company that has often been dragged by financial stress in its close to three-decade journey under the Khaitans, reports Ishita Ayan Dutt.
The mandatory use of the Indian flag on SCI's ships has been a bone of contention with prospective buyers, on account of the costs it will entail in terms of taxation and vessel registration.
The plan is to establish a consultative panel and appoint mediators to address various domestic issues, both at the central government and state levels.
The arbitration of any court is legally binding and the government) can approach the Singapore high court.
'There are obvious concerns regarding revenue leakage which is understandable, but there are also concerns about whether or not well accepted, judicially tested, fair and proper procedures are being followed during such arrests.'
The Cabinet has cleared a Bill to set up a government-owned development finance institution (DFI) with initial paid-up capital of Rs 20,000 crore so that it can leverage around Rs 3 trillion from the markets in a few years to provide long-term funds to infrastructure projects as well as for development needs of the country. To put it in perspective, Rs 3 trillion constitutes slightly less than 3 per cent of the Rs 111 trillion to be spent on over 7,000 projects in the National Infrastructure Pipeline from 2019-20 to 2024-25. Besides, the government will give Rs 5,000 crore as grant to the institution, Finance Minister Nirmala Sitharaman on Tuesday told the media after the Cabinet meeting.
Market experts said disruptions caused by the pandemic - to businesses as well as the filing process - and the sharp decline in valuations were the reasons behind fewer new companies wanting to tap the capital markets.
To overcome your fear of the property being taken over, draw an ironclad agreement with a good lawyer's help, recommends Sanjay Kumar Singh.
The FSSAI said Patanjali noodles, from the stable of entities owned by yoga guru Ramdev, had not been approved.
The e-commerce companies believe the government is using this exercise to take an unauthorised look into their financials, shareholding and operations.
According to property consultancy firm Knight Frank, only 19 states and UTs have a functional portal in place, that too with a lot of information dissymmetry across data points
Karan Johar hosted a party for Alia Bhatt on Sunday, bringing in her birthday on March 15.
Tax experts say one of the most dispute-prone proposals is making "fraudulent availing" of input tax credit (ITC), without an invoice or bill, a cognizable and non-bailable offence.
Experts say the tighter share buyback norms will help ensure only companies with clean intentions come to the market.
The new restriction will be challenging for businesses, as they will have to do regular follow-ups with their suppliers.
The US launched an investigation, focusing on whether the tax in India and other countries discriminated against American companies, were retroactive, and reflected unreasonable tax policy.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
Other measures being considered include relatively stringent KYC norms and a separate standard operating procedure for approval, renewal, and fresh investment from India's neighbouring countries.
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
Besides higher tax outgo, P-note issuers are worried about operational difficulties
The RBI is of the view that it cannot carry out satisfactory due diligence for granting registration because the funding is from a jurisdiction that has been identified by FATF as having weak measures to combat money laundering and terrorist financing.
Since its rollout 13 months ago, the new indirect tax has yielded Rs 1 trillion only in in April 2018
According to experts by making CSR spending mandatory, the government has made it into a statutory due like tax but with none of its democratic quality.
On Tuesday, Novartis agreed to buy GSK's oncology products business for $14.5 billion, while selling its vaccines business, excluding flu, to GSK for $7.1 billion.
Indian banks have started exploring opportunities in the space, including lending to crypto exchanges, and accepting bitcoins as collateral, among others.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
Experts say it is difficult to determine country of origin where most products are manufactured and sold, as part of a complex global value chain.
As cess levied under GST isn't shared by states, most states oppose it on the ground that it would set a wrong precedent and distort the GST structure.
Jewellers initially feared the ban applied on them, too. However, after discontinuing their monthly schemes for almost two weeks, they've started accepting deposits again.
States such as Maharashtra have made it mandatory for developers to register the ongoing projects
According to experts, this will have major impact on new investments by Chinese players in companies, such as Paytm, Ola, BigBasket, Byju's, Dream11, MakeMyTrip, and Swiggy, when they go for follow-up funding. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars.
Many online retail websites follow 'aggregator' model.
An income tax tribunal held that the PoA could not be construed as an instrument of transfer concerning any right, title, or interest in the immovable property.
'People who have unaccounted money often park it in unregulated deposit schemes.' 'Curbing illegal deposit-raising activity will also carry forward the government's drive against black money.'
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