Roundup of Ranji Trophy matched played on Sunday
Digital financial services firm Paytm has received market regulator Sebi's approval for its Rs 16,600 crore initial public offer, a source involved in the process said on Friday. The company expects to hit the bourses by the end of this month and is planning to skip the pre-IPO share sale rounds to fast-track listing.
Noted banker Deepak Parekh on Thursday pitched for simpler corporate governance norms that focus more on trust than just compliance, saying economics and ethics are not trade-offs but complementary. Behind each financial crisis there is a governance failure but it is the entire system that gets impacted, because an eruption of a corporate or financial crisis almost always means a tightening of rules and regulations and increased compliance for all, he said. The HDFC chairman, who was addressing a seminar on corporate governance organised by former Sebi chairman M Damodaran's advocacy Excellence Enablers in Mumbai, stressed that the ultimate objective should be that corporate governance systems must become simpler and not more complicated.
The feud between Gangwal and Bhatia came into the public after the former, in July, wrote to markets regulator Sebi seeking its intervention to address alleged corporate governance lapses at the company.
A summary of action from the Ranji Trophy matches played on Tuesday.
Rahul Bhatia and Rakesh Gangwal - the founders of IndiGo - will possibly face each other with deep mistrust, which the board chairman, M Damodaran, will attempt to defuse.
Gangwal said he will not vote in favour of resolutions that intend to expand the size of the board to 10 members. Gangwal wants a seven-member board.
Tulsidas Balaram, who passed into the ages last week, was a member of the Indian football team which reached the semis at the Olympics and won an Asian Games gold medal.
The National Stock Exchange (NSE) has got into firefighting mode to control the reputational damage caused by the Securities and Exchange Board of India's (Sebi's) order against its former managing director and chief executive officer Chitra Ramkrishna and others. According to sources, the exchange's management over the past one week has met several key stakeholders, including officials in the finance ministry and Sebi, major shareholders, and trading members, trying to distance itself from the controversy. The exchange plans to hold more meetings in the coming week to ensure that trading volumes and confidence in the bourse don't get impacted, they added.
The govt is likely to announce the new Sebi chief by Feb 10 as interviews for the position is over. Six people have been interviewed.
Asset management firms relying heavily on liquid fund investments.
The Securities and Exchange Board of India is in talks with the department of company affairs for seeking power to regulate stock splits below a certain value, according to Sebi chairman M Damodaran.
Ambassador A K Damodaran was the last link between the freedom struggle and Indian diplomacy, the last of those, who walked from a British prison to take on national responsibilities.
The Damodaran committee appointed by the Reserve Bank of India (RBI) to revisit the issue of banks' customer services is likely to recommend capping on service charges to small borrowers or vulnerable sections of society.
Cracking the whip on dope offenders, Indian Weightlifting Federation (IWF) on Saturday handed life bans on three lifters, including 2006 Commonwealth Games silver medallist Vicky Bhatta (56 kg), for their second dope offences.
As the controversy over Bishop Joseph Kallarangatt's remarks refused to die down, the chief minister said the Kerala society as a whole has not agreed with the Bishop's statement and expressed hope that he would "respond", sensing the stand of the public on the issue.
Also, on Wednesday Mahindra Satyam said its board has approved settlement of lawsuits brought by its former client Upaid Systems by paying $70 million.
The decision to quiz Sinha, as also former Sebi Chairman M Damodaran, was taken after examination of another former Sebi chief C B Bhave earlier this month, during which the agency sleuths were told that public interest was involved in grant of licence to MCX-SX to trade in currency derivatives.
The scam-hit Satyam Computer founder B Ramalinga Raju, brother Rama Raju and ex-chief financial officer Srinivas are in 'protective custody', former Securities and Exchange Board of India chief M Damodaran said in Ahmedabad on Saturday.
Gulmohar marks the debut of writer-director Ranjith as an actor, who plays the role of a revolutionary of the seventies. This film is worth watching for his performance and to see Jayaraj bounce back to form as a director.
SEBI revealed its plans of introducing two new products within a month.
"Whatever may be the political undercurrents, the economy, and the markets, are bound to go forward at its own pace. It will get bigger and better. Our challenge is to keep it safe (for the benefit of investors)," the Sebi chief said.
C B Bhave, chairman and managing director of National Securities Depository Ltd (NSDL), is believed to be leading the race for the sixth chairman of the Securities and Exchange Board of India (Sebi).
Donation to go to Sarojini Damodaran Foundation and Advaith Foundation
Hinting at action against non-complying companies, Securities and Exchange Board of India Chairman M Damodaran said on Thursday the regulatory body was 'barking so far but will bite soon.'
Sebi chief M Damodaran recently said that regulations for mutual fund distributors should be introduced.
The Securities and Exchange Board of India is planning to bring in regulation to rein in 'vested content' in the media on stock markets keeping in mind the interest of average investors.
Market regulator Securities and Exchange Board of India proposes to introduce Indian Depository Receipts in the Indian capital market by 2007, Sebi Chairman M Damodaran said.
Stay orders by courts against Sebi's order in the IPO scam would not hamper its investigations into malpractices in public issues, Sebi chief M Damodaran said.
SEBI chief M Damodaran on Wednesday said "standards are required" when companies, including those from the oil sector, give out information in public domain.
IDBI has hired human resource consultancy firm Hewitt & Associates for advice on introducing cost-to-company approach and an integrated compensation package for employees, chairman and managing director M Damodaran said on Friday.
The Padma Bhushan was conferred on 17 personalities including N Chandrasekharan, chairman of Tata Sons, Krishna and Suchita Ella of Bharat Biotech, Cyrus Poonawalla, Satya Nadella, chairman of Microsoft, Sunder Pichai, chairman of Google.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
The Industrial Development Bank of India will start its retail banking operation with 100-odd branches from April this year, its chairman M Damodaran said in New Delhi on Tuesday.
The annual earnings of a non-executive chairman of a PSB is capped at Rs 10 lakh, inclusive of fees for attending board meetings. This is way below the compensation of the chairman of any private bank, reveals Tamal Bandyopadhyay.
UTI Asset Management Company is planning to come out with an initial public offer by selling 60 per cent of its holding to the public, its chairman M Damodaran said in Kolkata on Monday.
Unit Trust of India Mutual Fund, which commenced operations at the beginning of this month, is targeting to double its Assets Under Management to Rs 30,000 crore (Rs 300 billion) in the next 12 months, chairman and managing diector M Damodaran said.
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