The Infosys Foundation will provide a fund of Rs 16 crore, which will be spent for the next five years.
UK Chancellor of the Exchequer Rishi Sunak has written to his boss, Boris Johnson, to be referred to one of the British Prime Minister's independent advisers to review all his ministerial declarations of interest amid a row around his family's tax affairs. The Indian-origin finance minister, who has been fighting back attacks over wife Akshata Murty's tax arrangements in India and also Opposition allegations around his own finances, said in a Twitter post on Sunday that he is confident the independent review by House of Lords peer Christopher Geidt, the Independent Adviser on Ministers' Interests, will provide "further clarity". "My overriding concern is that the public retains confidence in the answers they are given and I believe the best way of achieving this is to ensure those answers are entirely independent, without bias or favour," Sunak states in his letter to Johnson.
Two investment firms, together accounting for 17.88 per cent of the paid-up share capital of Zee Entertainment Enterprise Ltd (ZEEL), have sought the removal of the current managing director Punit Goenka from the board of the company. The two investment firms are -- Invesco Developing Markets Fund (formerly Invesco Oppenheimer Developing Markets Fund) and OFI Global China Fund LLC, the largest shareholder of ZEEL. The two firms have called an extraordinary general meeting of shareholders seeking to remove Punit Goenka.
The country is still in the ascending limb of the epidemic, said Prof D Prabhakaran.
Many say N R Narayana Murthy returned to Infosys only because it was floundering. Ironically, that itself can be interpreted as the great man's biggest failure.
The police, who conducted preliminary investigation at their village, suspect it to be a case of 'revenge' and 'witness harassment' by a former teacher of the school, who was arrested last December on charges of molesting three girl students.
Sunak joins fellow Indian-origin candidate Suella Braverman, the UK Attorney General who is among the early Tory MPs to announce her plan to contest.
'Serial testing is much more valuable than a single test which reflects just a point in time.'
Co-founder Nilekani could take the role of non-executive chairman, becoming a bridge between the board and Murthy, reports Ayan Pramanik.
In spite of that the founders never voted against any resolution, those who differed abstained.
Investment firm Invesco Developing Markets Fund, the largest shareholder in Zee Entertainment Enterprises, on Thursday said it will support the Zee-Sony merger deal and has decided not to pursue the call for ZEEL EGM to remove managing director and CEO Punit Goenka and two independent directors. The company said it will support the merger of Zee and Sony, contending the "deal in its current form has great potential for Zee shareholders" but added if it is not completed as currently proposed, Invesco retains the right to requisition a fresh EGM. Two days after the Bombay high court ruled that Invesco's call for EGM was legally valid, the investment firm in a statement said, "Since we announced our intention to requisition an EGM and add six independent directors to Zee's Board of Directors, Zee has entered into a merger agreement with Sony.
Infosys CEO Salil Parekh has got a massive 88 per cent jump in annual remuneration to Rs 79.75 crore, making him one of the highest-paid executives in the country. The software services firm has sought shareholders' approval for the reappointment of Parekh as chief executive officer and managing director for a second five-year term beginning July 1. According to the company's annual report released on Thursday, Parekh, 58, took home a salary of Rs 71.02 crore in the fiscal year ended March 31, 2022.
'At the stage where we are in today in the country, by the time mass vaccination becomes available, it would be around the middle of next year.' 'Most of those people, who got infected this year, will be next year back to level zero -- once again susceptible.'
Professor Murthy, who was also the chairman of the Department of Modern English Language at the varsity, had been teaching at the Aligarh Muslim University for the last 28 years.
E-commerce major Amazon on Wednesday said it will acquire Prione Business Services - its joint venture firm with Catamaran, subject to requisite regulatory approvals. Prione Business Services was formed in 2014 and was coming up for renewal on May 19, 2022. In August this year, Amazon and NR Narayana Murthy's Catamaran announced that they will not continue their JV beyond May 2022. The two parties had not disclosed the reason behind the decision.
Speaking at the inauguration of the magazine's new office, Vaidya went on to suggest that in such a war, sometimes 'good people' have to be targeted because they are on the side of wrong.
Karnataka Chief Minister Basavaraj Bommai on Wednesday said the government is trying to find out details about the student from Haveri district who was reportedly injured due to the shelling by Russian forces in Ukraine's Kharkiv city.
Parekh, who is joining the company from Capgemini, will take over on January 2, 2018..
At its meeting held on Friday, the company's board rejected the minority shareholders' demand and termed the requisition as "invalid and illegal". "In its meeting held on 1st October 2021, the board has arrived at a conclusion that the requisition is invalid and illegal; and has accordingly conveyed its inability to convene the Extraordinary General Meeting to Invesco Developing Markets Funds and OFI Global China Fund, LLC," ZEEL said in a statement.
Naved Masood, former secretary in the Ministry of Corporate Affairs and Sebi board member; TV Mohandas Pai, chairman of Manipal Global Education and Dinesh Kanabar, CEO, Dhruva Advisors have ceded their position on the NSE board following end of their tenure.
'The meanness of the board statement apart, it nowhere answers the most fundamental and damaging aspects of the deteriorating work culture among top company executives to which Narayana Murthy had been repeatedly drawing attention,' says B S Raghavan, the distinguished civil servant.
Sampath Raj, the Congress corporator from Devara Jeevanahalli municipal ward, was arrested in Bengaluru, the sources said without divulging further details. He had escaped from a private hospital where he got admitted for COVID-19.
The White House and the Indian-American community are solidly backing the nomination of Neera Tanden as the director of Office of Management and Budget, describing her as the most appropriate candidate to hold the position.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
Rao, in his letter, appealed to employees to stay the course, focusing on execution and expanding the services that the company had built over the past few years.
Former CFO V Balakrishnan seeks exit of Infosys chairman, co-chairman R Seshasayee, co-chairman Ravi Venkatesan, audit committee chairman Roopa Kudva and nomination committee chairman Jeffrey S Lehman.
The Rashtriya Swayamsewak Sangh (RSS) on Sunday distanced itself from an article critical of Indian software major Infosys that was published in Panchjanya, a magazine associated with the saffron organisation.
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.
Things have changed dramatically for India Inc post liberalisation in 1991. Business Standard catches up with three industry veterans on what reforms meant in the early days and what lies ahead . . .
The time is ripe to accede to the founders' plea to declassify them as promoters.
Zee Entertainment Enterprises Ltd on Wednesday approached the National Company Law Appellate Tribunal (NCLAT) against the requisition of minority shareholders Invesco and OFI Global China Fund to convene an Extraordinary General Meeting (EGM) to discuss various issues, including removal of managing director Punit Goenka. The media major has challenged the orders of Mumbai-bench of the National Company Law Tribunal, which had on Tuesday directed Zee Entertainment Enterprises Ltd (ZEEL) to filed reply over the petition filed by its minority shareholders by October 7 (Thursday), the next date of hearing. Confirming the development, a ZEEL Spokesperson said: "The company has moved NCLAT in accordance with the due process available under the law."
Charred vehicles, shards of glass from broken windows, stones and bricks lie strewn over the deserted roads of the violence-affected localities.
Infosys co-founder S D Shibulal has received little over four lakh shares of the company as a gift, taking the total number of shares owned by him to more than 21.6 lakh shares, according to a regulatory filing. Infosys, on Friday, informed the stock exchanges that "4,01,000 equity shares (representing 0.01 per cent) of Infosys Ltd by way of gift as off market transaction on November 12, 2020" were given to Shibulal. The filing did not mention who gifted these shares.
India's second-largest software services company Infosys on Wednesday posted 12 per cent year-on-year rise in consolidated net profit at Rs 5,686 crore for March quarter 2021-22. The Bengaluru-based company had registered a net profit (after minority interest) of Rs 5,076 crore in the corresponding period previous year, according to a regulatory filing. Infosys' revenue grew 22.7 per cent to Rs 32,276 crore in the quarter from Rs 26,311 crore in the year-ago period, it added.
In Tamil Nadu, though reformist spiritual giant Sri Ramanujacharya was a crusader against discrimination who nurtured equality almost a millenium ago, the broad canvas of social justice had only an occasional place for him.
His celebratory gesture on Thursday night marks a first for Downing Street, which annually sees the UK prime minister host a Diwali gathering and an Annakut, or spread of festive food, from London's Swaminarayan Mandir next door at No 10.
Family office basically caters to the investment - financial and non-financial - needs of a family and its members.
The CEO or the leader must definitely reap benefits proportionate to the benefits derived by the company.
"There was not a single decision that I took during my second tenure without discussing it with Ranga and getting valuable input from him," says Narayana Murthy.
As Boris Johnson's "partygate" troubles mount and members of his own Conservative Party demand he step down as the British prime minister, one name is doing the rounds as a frontrunner to take charge -- his Indian-origin chancellor and Downing Street neighbour Rishi Sunak.
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