An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
Prime Minister Narendra Modi on Thursday suggested the G20 trade ministers to work collectively to ensure equitable competition between large and small sellers as there are challenges in the fast growing cross-border e-commerce. In a video message at the G20 Trade and Investment Minister's meeting here, he also emphasised on the need to address the problems faced by consumers in fair price discovery and grievance handling mechanisms. "Digitising processes and use of e-commerce have the potential to enhance market access. "I am glad that your group is working on the 'High Level Principles for the Digitalization of Trade Documents'. These principles can help countries in implementing cross-border electronic trade measures, and reduce compliance burdens.
Digital literacy is emerging as the professional language of 2024. It is the ability to process complex data sets, deploy critical communication technologies appropriately and validate your importance at your workplace, explains Jagdeep Kochar, managing director, Baker & Taylor India.
'Considering Pai is putting his own personal money in Byju's, stakeholders in the company can look forward to more governance and transparency.'
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.
A remarkable story which helped in transforming a bureaucratic organization, to a customer centric organization. This experience may inspire several government / private organizations to modify or adopt digitisation to transform their business, notes Professor N Ravichandran (retd).
Two whole-time directors KVS Manian and Shanti Ekambaram of Kotak Mahindra Bank are in the race for the post of managing director and CEO, the position vacated by Uday Kotak last week. Kotak stepped down as MD and CEO of the bank effective September 1, 2023, four months ahead of his term was to end. The RBI will soon decide on Kotak's replacement as the new MD and CEO of Kotak Mahindra Bank, as the new person has to take charge on or before January 1, 2024.
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
With the Income Tax department recovering over Rs 225 crore cash during a series of raids on an Odisha-based distillery group on charges of tax evasion, Prime Minister Narendra Modi on Friday assured the people that the money looted from the public will be returned.
India should become a middle-income country and then push to make INR (rupee) a hard currency, and till then, it must promote the settlement of global trade in the local currency, think tank GTRI said on Sunday. Global Trade Research Initiative (GTRI) said that transforming a currency into a hard currency is a complex process that hinges on several pivotal factors. Firstly, economic stability is paramount; a country must exhibit low and stable inflation, consistent growth, and a balanced trade environment.
A senior government functionary claimed on Thursday that the average estimated cost of MQ-9B long endurance drones for India would be 27 per cent lower than the price incurred by other countries which have bought it from the US, asserting that it will most likely go further down during negotiations unless India seeks additional features.
The prime minister took no names but made an apparent reference to reports about "rate card" for different government jobs in the Trinamool Congress-ruled West Bengal and prevalence of "cut money" in the state.
'Mumbai main branch (SBI headquarter) has all the data ready-made. It doesn't take even an hour to out the data from the system.'
Policy owners need to avoid errors on their part to prevent claims from being denied.
Just be transparent about what you have been doing in the past year and support your statements with the growth numbers because that's what managers are interested in, advises Varun Sachdeva.
Jaahnavi Kandula was killed in January after she was struck by a police vehicle driven by officer Kevin Dave.
Sacked Rajasthan minister Rajendra Gudha had claimed that the red diary which he had secured from the residence of Congress leader Dharmendra Rathore during an income tax raid in July 2020 on the directions of the chief minister had details of Gehlot's financial transactions.
The guidelines have been prepared in line with the National Education Policy (NEP) 2020 that has envisioned that top universities in the world will be facilitated to operate in India.
With its verdict, the Supreme Court has strengthened the spirit of 'Ek Bharat, Shreshtha Bharat' and has reminded us that what define us are bonds of unity and a shared commitment to good governance.
When the International Labour Organisation appointed Assane Diop as executive director to kick off its social protection initiative in 2000, it couldn't have found a man with better credentials for the job.
The finance minister's assertion that industry should not expect any spectacular announcements in the 2024 interim Budget suggest that the electoral imperatives of more tax concessions or higher expenditure on welfarist programmes could be far less pronounced than they were before the 2019 interim Budget, expects A K Bhattacharya.
Prime Minister Narendra Modi on Saturday announced the adoption of the New Delhi Leaders Declaration, a significant victory for India's G20 presidency that came amid increasing tensions and divergent views over the Ukraine conflict.
It also suggested that the IPC provision related to adultery should be retained in the Sanhita by making it gender neutral "for the sake of protecting the institution of marriage".
Matthew M Smith, managing director, Abbott Capital, says that Indian general partners (GPs) are more willing to talk portfolios, both good and bad, in the initial meetings.
In a recent report, the Department-related Standing Committee on Law and Justice and Personnel said it expects the government and the judiciary to finalise the revised MoP, 'which is more efficient and transparent', in terms of a Supreme Court observation.
UEFA apologised to Liverpool for initially blaming the Merseyside club's fans for the mayhem following the release of the independent review on Monday.
Section 19(4) of the RERA Act entitles allottees to a refund if the developer doesn't comply with the terms of the sale agreement.
The Reserve Bank on Thursday said it will come out with a framework allowing borrowers to switch to fixed interest rate from floating interest rate, a move that would provide relief to borrowers of home, auto and other loans reeling under the impact of high interest rate. Unveiling the bi-monthly monetary policy, Reserve Bank Governor Shaktikanta Das said under the framework, to be put in place shortly, the lenders will have to clearly communicate with the borrowers about tenor and EMI. "The supervisory reviews undertaken by the Reserve Bank and the feedback and references from members of public have revealed several instances of unreasonable elongation of tenor of floating rate loans by lenders without proper consent and communication to the borrowers," he said.
A survey, with over 3,700 respondents across digital platforms, found that transparent taxation has been one of the most significant initiatives of the government followed by the production-linked incentives (PLI) scheme, equalisation levy and new labour codes.
The government is planning to draft rules for the National Company Law Tribunal (NCLT) to deal with Insolvency and Bankruptcy (IBC) cases, according to official sources. The Ministry of Corporate Affairs (MCA) is also looking to fill all vacant posts at various NCLT Benches by August and put in place an IT-enabled system that would use artificial intelligence (AI) for case management. The NCLT, adjudicating authority for matters related to company affairs, was constituted before the IBC came into effect.
While the government has claimed significant increase in funds for farm credit, PMKSY and PKVY, facts show a different story.
Poland, Britain against allowing Russian, Belarusian athletes at Paris Games
It aims at tackling issues such as child labour, mistreatment of workers, and denial of basic wages, among others. There will also be penalties for non-compliance.
India on Monday joined a US-led initiative to set up an Indo-Pacific Economic Framework to bind partner countries to achieve common goals, with Prime Minister Narendra Modi asserting that New Delhi will work with the stakeholders to make it an "inclusive and flexible" structure to pave the way for development, peace and prosperity in the region.
'If he has been able to overcome this major obstacle (withdrawal of POCSO after the complainant and victim withdrew the charge) I don't think he has anything to worry about now.' 'Cancellation of POCSO is akin to giving him a lifeline.'
Uday Kotak has resigned as the managing director and chief executive officer of Kotak Mahindra Bank, the bank said in a stock exchange filing on Saturday.
Will Vijay will go the most successful MGR/Jayalalithaa way, or that of Vijayakanth, Seeman or Kamalahaasan, or will he end up as another Rajinikanth who cries wolf at the last minute and quits the scene even before it all had really begun, asks N Sathiya Moorthy.
Kerala Chief Minister Pinarayi Vijayan on Thursday declared the southern state as India's first fully e-governed state where an entire range of government services have been digitised so that they can be provided to the citizens promptly and transparently.
Indian IT services companies have seen several CEO changes that have, over the past few months, led to some crucial exits at the mid-senior level in a trend that is likely to continue. According to a recent Motilal Oswal report, "Movement of mid-to-senior leadership at IT services firms is a reality, partially on account of multiple CEO-level changes.
Five additional pages of classified material have been found at the Delaware residence of President Joe Biden, the White House has said, bringing the total number of secret documents uncovered to about two dozen.
