With only two days left for the final bidding process to start (9 am on April 13), the government-appointed board of Satyam Computer Services is giving final touches to the modalities. And providing the extra information the potential bidders wanted.
Former president of the Calcutta Stock Exchange, Kamal Parekh, was arrested in connection with the Rs 120 crore (Rs 1.2 billion) payment crisis of the bourse.
Leading the Indian-Americans on the list is 49-year old Aneel Bhusri.
Satyam has initiated discussion with a host of banks and institutional investors to get funds to keep its business afloat and has pledged some of its receivables to secure funding, Parekh told reporters in Mumbai on Wednesday. Satyam's new board will meet on Thursday and the day after to discuss issues including appointments of top executives and ways to raise funds, Parekh said.
The government does not see any conflict of interest in HDFC chairman Deepak Parekh and former Nasscom President Kiran Karnik, who are directors on the board of Satyam's competitors, being on the troubled company's board.
At the launch of Khalid Mohamed's latest book, The Aladia Sisters, Karan Johar got Javed Akhtar and Anil Kapoor to reveal a few secrets.
"Cost of funds is still high, so once it comes down, we will reduce interest rates," HDFC chairman Deepak Parekh said. Parekh's comments came two days after Finance Minister P Chidambaram said 'competition from PSU banks will force lenders in private sector to cut interest rates sooner than later'.
Its revenue, however, grew 20.3 per cent to Rs 21,400 crore in the December 2018 quarter as compared to Rs 17,794 crore in the year-ago period.
Thierry Delaporte's pay package would be around 34 per cent higher than the total compensation that Wipro CEO Abidali Neemuchwala received in financial year 2019-20 (FY20). It also brings the Wipro CEO's salary on par with other top IT firms such as Infosys and Cognizant.
'The CoA feels that if David has declared and is not taking remuneration from India Cements, he is not in conflict'
The earnings are, however, expected to be down around 2 per cent on a sequential basis due to pent-up demand getting exhausted and the adverse impact of rising metals and energy prices on consumer goods and manufacturing companies.
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Imports of gold virtually stopped since July 22 after confusion on the new import rules.
The issue also underscores the growing scrutiny by investors and voting advisory firms of the performance of board members.
At a time when human contact seems is at its lowest, two people meeting for the first time oblivious to their romantic future together is alluring than ever.
As many as 40 applicants have thrown their hats in the ring for the top job of CEO at scam-tainted Satyam, whose board meeting is scheduled for Thursday to consider the appointment.
Rani Mukerji's friends make sure to stand by her side at her father Ram Mukherjee's prayer service.
Many are now cheaper after stock splits. But look at key parameters
The all-cash transaction is likely to be complete in the first quarter of 2020, subject to regulatory clearance.
A Kolkata court on Wednesday rejected the bail application of former Calcutta Stock Exchange president Kamal Parekh and remanded him in judicial custody till July 7.
Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Tuesday said that interest rates may rise owing to higher inflation, but lending rates are unlikely to change in the next one month.
A civilised society depends on having the greatest possible number of people who have a stake in society. Being a homeowner gives one a secure and direct stake in society; so that is the goal we need to work towards.
Linking all new floating rate loans to an external benchmark won't impact existing borrowers, so customers who have taken long-term home loans recently should watch things carefully, say Joydeep Ghosh and Sanjay Kumar Singh.
The banking industry is hoping for more rate cuts by the Reserve Bank, which in turn, will help soften both deposit and lending rates, a top financial industry expert said.
The show felicitated indie musicians like Dualist Inquiry and Nischay Parekh.
Most bankers on Monday ruled out the possibility of lending rates softening following RBI's move to suck out excess liquidity, but housing finance leader HDFC sees a scope for reduction."There is enough liquidity in the system, softening of lending rate could happen," HDFC chairman Deepak Parekh said. Interest rates can come down despite CRR (percentage of total deposits that banks keep with RBI) hike, he said.
Top officials said asking employees other than the fund management team to mandatorily invest a fifth of their salary goes against the principle of natural justice.
The Bengaluru-based firm's revenue grew 17.3 per cent to Rs 20,609 crore in the quarter under review as compared to Rs 17,567 crore in the same period of 2017-18
Coal, land, insurance bills are cited as govt's commitment to reforms.
Taking a cue from their Spanish co-owners and UEFA Champions League finalists Atletico de Madrid, the Kolkata franchise for the much-anticipated Indian Super League was named Atletico de Kolkata on Wednesday.
His kids were there at their granddad's Eid celebration, but the superstar was missing...
'Put the assets of PMC Bank and the personal assets of the HDIL promoters and head of PMC Bank in an escrow account and ring-fence it from the ad hoc action of the revenue departments and creditors,' recommends Debashis Basu.
Polling for the 288-seat Assembly is being held in a single-phase on Wednesday.
'Ajay Devgn is perfect to slip into Idris Elba's shoes.' 'Taapsee can play any role under the sun.'
'He will be missed by all of us in Saurashtra.'
City Football Group Chief Executive Officer Ferran Soriano said there is no doubt that India will become a major football nation in the coming years.
Do you know Ashaji crooned a seductive night club song, Zooby Zooby Je L'aime Vous for An Evening In Paris?
Amitabh Chaudhry, who will now head the merged entity, will manage assets under management of about Rs 1.10 lakh crore and an employee base of 23,620 after the completion of the deal
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