Rishad Premji, chairman of IT services major Wipro, saw his compensation for FY23 decline by almost 50 per cent year-on-year, due to a fall in the firm's profit. According to the Form 20-F, filed with the US Securities and Exchange Commission by Wipro, Premji's compensation for FY23 was $951,353, down 50 per cent from $1,819,022 in FY22. "Rishad A Premji is entitled to a commission at the rate of 0.35 per cent on incremental consolidated net profits of Wipro Limited over the previous fiscal year. However, in light of the fact that the incremental consolidated net profits for fiscal year 2023 was negative, the Company determined that no commission was payable for fiscal year 2023 to Mr Rishad A. Premji," said the company in the filing.
'You have a chance to use this massive mandate to push through life changing reforms, transform India into a superpower because our nation's biggest strength are its people, and we the people are the most hardworking industrious and entrepreneurial the world has ever seen.' 'Arm us with a society which lives without fear, a governance where business can be conducted smoothly without greasing palms, instill in this great nation a sense of pride once again. Let this nation be bigger than you and the party.' Suparn Verma's impassioned appeal to Narendra Modi.
For the chief minister and Assam alike, the road ahead is full of challenges, notes Aditi Phadnis.
Former RBI governor Raghuram Rajan on Tuesday said it is too premature to think that India will replace China when it comes to influencing global economic growth. However, the situation may change going forward as India is already the world's fifth largest economy, it is growing and has the potential to keep expanding. At a World Economic Forum (WEF) press briefing on the recently released Chief Economists Outlook that saw majority of them expecting a global recession in 2023, Rajan said any recovery in the Chinese economy would definitely boost the global growth prospects.
A Judicial member of the appellate tribunal NCLAT has recused himself from hearing a petition filed by tech giant Google, appealing against Rs 936.44 crore penalty imposed by competition watchdog CCI for abusing its dominant position with respect to Play Store policies. On Monday, NCLAT bench Justice Rakesh Kumar and Alok Srivastava ordered Google's appeal to be listed before another bench of which Justice Rakesh Kumar is not a party. It has asked the registry of the National Company Law Appellate Tribunal (NCLAT) to place it before the chairman of the appellate tribunal for this.
What do we need more of: Leaders who dominate global institutions or local leaders with a 'Make-in- India' mindset?
'Rapists do have families. I wanted to see how a father or mother would deal with it.' 'They go through shame as well and get discriminated from the rest of the village.' 'Why don't we show it that way?'
All the proceedings against Choksi of illegal entry into Dominica were dropped on May 20, the spokesperson said.
'Love will always be a mystery.' 'The day it stops being a mystery it won't exist.'
One hopes in his next term, Narendra Modi will take up the mission of inculcating respect for following rules in Indians as a mission. Therein lies the chance for India to become a developed country, asserts Colonel Anil A Athale (retd).
He has now to show that he can take on the vested interests within the railways which are resisting change through corporatisation
The clean-up process begun by the Reserve Bank of India runs the risk of spiralling out of control.
Mr Modi must stop talking, and start writing
Mr Tata said a letter had arrived in his office from a young woman who had applied for the graduate engineering programme of TELCO Pune and been turned down. 'I wouldn't interfere with your selection process, Maira,' he said. 'However, I am calling you because this lady says that her rejection letter says that though she is very well qualified for the programme, TELCO Pune cannot select her because she is a woman.' 'Why are you discriminating against women?' he asked. A must read excerpt from Arun Maira's The Learning Factory: How The Leaders Of Tata Became Nation Builders.
That such a deal can be greeted with celebration in the camps of both buyer and seller speaks volumes about the airline and its recent history, explains T N Ninan.
More than Rs 8 crore unaccounted cash has been seized in subsequent raids at various locations by Lokayukta. The arrested officer's father is Madal Virupakshappa, the MLA representing Channagiri constituency in Davangere district of the state.
'The book captures Rana Kapoor's hunger for real estate leading to bungalows in Delhi, Mumbai, London and other cities; the multiple companies -- over 100 -- to fund his family's various ventures; the attempt to game the system by showing lower non-performing assets,' notes Joydeep Ghosh.
"It is shameful that Rahul Gandhi, instead of coming to Parliament and apologising for his undemocratic rant against India, today seeks to be absent from Parliament," she asserted.
The federal probe agency also made a fresh arrest in this case as it took into custody Hyderabad-based liquor businessman Arun Ramchandra Pillai, they said.
The Congress used Raj Bhavans to topple legally elected governments. The BJP is letting governors get away with all manner of impropriety, notes Aditi Phadnis.
Shah said that it is "a 3-D government in Rajasthan and three Ds stands for 'dange' (riots), 'durvyavhar' (ill-treatment) with women and 'Dalit' atrocities.
Chinese equipment contracts had been given by many public sector undertakings and government companies for their networks, even in sensitive places such as the north east.
'The space required for wild cheetah populations to thrive was grossly under-estimated.' 'Cheetahs, because of their social system and ecologically fragile nature, live at only 1 cheetah per 100 sq kms even in the best habitats of Africa.'
The Global Hunger Index exaggerates the measure of hunger, lacks statistical vigour and has problems on multiple counts, Union Health Ministry sources said.
Gaurav Mohta, chief marketing officer, Home First Finance Company, answers home loan queries.
'Only time will tell how difficult it would be for the BJP when Mr Modi may not be in a position to actively run affairs of the party and be its biggest vote catcher.'
'Then the BJP could even split.'
This is the first time that a Muslim lady has filed a nomination in a Presidential election.
'It's hard to call whether the Indian markets will go through a time or price correction.' 'There could be a swift 5 to 10 per cent fall in the market in the next two months or there could be a gradual fall and six months sideway movement.' 'Eventually, I think there will be a bit of both.'
Three-quarters into the 10 years that Mr Modi had sought for transforming India, the 'output' numbers look impressive, but the key 'outcome' numbers don't show up much, if at all, observes T N Ninan.
His business successes which started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964 made him one of the richest in Britain but it was the Bofors scam that made Srichand Parmanand Hinduja famous, or rather infamous, back home. SP Hinduja, as he was known, died in London on Wednesday after a prolonged illness. He was 87, a family spokesperson said. Born in a business family in Karachi, British India, he and his two younger brothers were accused of receiving payments totalling Rs 64 crore in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
The Modi government has ambitious plas to achieve 10% growth, but there is no assessment of how much money is needed for the whole package of measures, and where it will come from. In short, there is no plan for how to get from here to there, points out T N Ninan.
Sanjay Bhandari, an accused arms dealer wanted in India on money laundering and tax evasion charges, is pursuing a separate legal battle of his own in France over an alleged unpaid cut from a large Indian defence contract dating back over 10 years, according to a UK media report.
A faltering economy may have led to a re-think on economic strategy. And Mr Modi might think he is politically strong enough to take some risks. But there could be a minefield ahead, observes T N Ninan.
Realty major DLF's chairman Rajiv Singh remains the wealthiest Indian real estate entrepreneur with a wealth of Rs 59,030 crore, according to GROHE-HURUN India. With a wealth of Rs 42,270 crore, Mangal Prabhat Lodha and his family of Mumbai-based Macrotech Developers (Lodha Group) is at the second position. Arjun Menda & family of Bengaluru-based RMZ Corp debuted at the third position on the list, with a wealth of Rs 37,000 crore.
A special CBI court in Asansol on Saturday rejected Trinamool Congress leader Anubrata Mondal's bail plea in the alleged cattle smuggling scam and extended his custody with the central agency for four days till August 24.
While the PM sees zero tax on long-term capital gains and dividend income as unfair since the beneficiaries are not poor, he is silent on the fact that rich farmers too don't pay taxes, since farm income is tax-free, a loophole exploited by many netas and babus, says Debashis Basu.
Civil Aviation Ministry has a few ready answers at hand.
'Mr Kejriwal is almost exactly the package that Mr Modi offers: Personal aggrandisement, the building of a personality cult through full-page newspaper ads day after day, populist schemes involving subsidies (whether affordable or required), abandonment of secular principles, exaggerated claims and no checks on leadership,' points out T N Ninan.
Now mergers, acquisitions, sale of assets, fundraising, strategic intent and competitive position in the market are part of business life everywhere.
'Individuals can consider dividing ownership of properties between related persons to ensure that the sale transactions are below the Rs 50 lakh limit and therefore not subject to TDS.'
