'Chandrasekaran wanted a five-year extension, but the Tata Group has a policy of 65 years as the retirement age for its executive chairman.'
Leading non-banking financial company (NBFC) Shriram Finance on Friday said Japan-based MUFG Bank would invest Rs 39,618 crore, or $4.4 billion, to acquire a 20 per cent stake on a fully diluted basis through a preferential issue of equity shares.
While the latest trigger for him stepping down could be the uncertainty around his renewal as a director at the AGM, which is otherwise a routine matter, Chandra may have been contemplating quitting for some time now because of the overall turbulence with the principal shareholder on the leadership issue.
'She taught us that acting wasn't something people did because they couldn't do anything else. It was a skill. A skill that needed to be constantly polished and shaped, and the respect you command with that.'
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
The Chennai-based Shriram Group is likely to take over the cash-strapped front-end retail company of Vishal Retail Ltd, after leading private equity investor Texas Pacific Group takes charge of its wholesale division. This will be subject to approval from all stakeholders and regulators.
India's internet economy is estimated to reach $1 trillion by 2030, primarily due to e-commerce, which is expected to be worth $325 billion and rank third globally, according to industry experts. Last year marked a crucial turning point for India's e-commerce sector, with notable changes in consumer trends, technology, and regulations. InGovern Research Services, a leading corporate governance advisory firm, hosted a virtual roundtable to deliberate on the notable developments in India's e-commerce sector in 2023, with a particular focus on the essential role of customer trust in fueling its ongoing expansion.
Returns of liquid funds are meant only for the short term and don't help investors create wealth over the long term, as equity funds do.
The world is full of family businesses that withered away with the passing of generations, creating much bitterness and ill will. Entire clans that used to be household names have become pale shadows of their once-mighty empires.
The joint venture of Jio Financial Services and BlackRock to foray into India's asset management space could be disruptive but not disastrous for incumbent industry players, analysts said on Thursday. As an investment strategy, analysts suggest investors stay put in shares of those AMCs that consistently improve business metrics, and where market capitalisation-to-asset under management (AUM) valuation is not stretched. However, growth expectations of incumbent players may get trimmed in the medium-to-long term, analysts said, once the Jio-BlackRock JV unveils its plans, discounting the looming challenge as significant enough to dent their profitability.
The country's largest bourse National Stock Exchange (NSE) has put the NSE Prime initiative in cold storage following lukewarm response from India Inc, said people aware of the development. Inspired by Brazil's Novo Mercado, NSE had announced a separate platform which any listed company could be part of by voluntarily adopting a stricter corporate governance code. Launched in December 2021, NSE Prime was to formally take off within a year after empanelling companies.
Taking to Twitter, Singh said, "My house has been attacked. Listen carefully BJP supporters, no matter how much hooliganism you indulge in, I will not allow the funds collected for constructing the Ram temple to be stolen even if I am killed."
The IPO lane will continue to be busy in December as 10 companies have lined up initial share-sale plans worth more than Rs 10,000 crore, merchant banking sources said on Wednesday. Moreover, the initial public offerings of Star Health and Allied Insurance and Tega Industries are currently open for public subscription. This comes after 10 firms successfully concluded their initial public offerings (IPOs) in November. Among the companies that scheduled their IPOs in this month include RateGain Travel Technologies, travel and hospitality technology services provider, and Anand Rathi Wealth Ltd, part of Mumbai-based financial services group Anand Rathi.
A single application and a plethora of services for passenger cars - that is what myTVS, a brand that operates under Ki Mobility Solutions and is part of the TVS family, is set to bring to customers, in a bid to disrupt the concept of "super apps" in India. Starting July 15, myTVS will launch its connected car platform or super app called myTVS Life360 for aftermarket passenger cars. Through it, customers will be able to avail themselves of a range of services like maintenance, diagnostics, roadside assistance, accessories, payments, insurance, and so on.
The voting rights with the promoter will ensure the interests of the promoter family as well as minority shareholders are protected in future, said corporate governance advocates and corporate lawyers.
Thackeray announces Rs 1 crore for construction of Ram Temple from his trust.
India's real estate industry staged a rebound from 2020's downturn, with housing sales seen rising by over 50 per cent. The performance, though short of pre-COVID levels, has property developers hoping for stronger gains in the New Year and the beginning of a long upcycle. A strong foundation has been laid this year for revival in the Indian real estate sector, which is projected to reach $1 trillion mark by 2030 from $200 billion in the pre-pandemic year.
ONGC, Hindustan Petroleum, Bharat Petroleum, Indian Oil and Oil India listed the spending as part of their mandatory CSR commitment, but CAG noted that the Sardar Patel statue did not qualify for CSR funding.
Licence winners are expected to be announced by the first quarter of 2014.
Love is in the air... and on social media!
Experts view this as a case of "failed experiment" in succession
The Madhya Pradesh high court on Thursday rejected the bail pleas of stand-up comedian Munawar Faruqui and another accused, Nalin Yadav, in a case of allegedly making indecent remarks against Hindu deities.
Biggest contribution came from Bharti group-led Satya Electoral Trust.
In September, Sebi had given a six-month extension to companies.
Unique benefits, work-life balance, and fair share of profits were the top three areas where MNCs fared better over Indian companies
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Firms with low promoter holding may get to buy shares from secondary market.
Piramals are the largest investors in the Indian real estate sector after HDFC, with investments worth $3 billion already.
Kate Middleton and Prince William received the royal treatment when they attended an extravagant Bollywood gala fundraiser at the Taj Mahal Palce hotel in Mumbai on late Sunday evening.
Exuding confidence in setting up a profitable banking venture, industrialist Anil Ambani on Tuesday said the proposed bank will help lower Reliance Capital's debt to one-fourth of current levels and would be listed as a separate entity in three years.
Right marketing and product strategy have helped Falguni Nayar build a beauty retail business.
A look at the top posts on social media from your favourite Bollywood celebrities.
Sahara chief Subrata Roy may not come out clean in the biggest ever investment fraud that he allegedly did few years ago.
Experts say only three per cent individuals pay taxes.
Photographs tell us so much about the person!
The captains of Indian industry described Narendra Modi government's maiden budget as one with "the right intent and in the right direction".
