Unresolved succession plans and informal ownership structures are fuelling bitter family fights across India's corporate boardrooms.
The CII Business Summit 2025's inaugural session witnessed a rousing standing ovation and a felicitation ceremony for the defence top brass sending a strong message about India's rising military industrial complex and hghlghting that security is a top-of-the-mind issue for India Inc.
Using available government data, the team is targeting $30-40 billion worth of iron and steel products that are imported into India.
When there are two wills produced before the court, which one will be executed?
Shaji Kailas' film ends up as standard fare.
Five persons, including three directors of auto spare-part manufacturer, Automotive Axle, had a narrow escape when the helicopter in which they were travelling overturned due to a technical snag at the Infosys helipad in Mysore on Friday.
The infighting between the two promoters of Hikal-Baba Kalyani and sister Sugandha Hiremath-has put the company's growth at stake, InGovern has said in a note. The corporate governance firm has called for a change in the management and an overhaul of its board to protect the interest of minority shareholders, who own almost a third of the specialty chemicals company. The Kalyani and Hiremath families are mired in a legal dispute, with the latter seeking transfer of ownership of shares held by the Kalyani group, citing nearly three-decade old family arrangement.
'Business families like the Godrej group are increasingly realising that an amicable settlement is better.' 'Else, the wealth of all shareholders gets destroyed.'
A new regulation concerning the disclosure of family arrangements by listed companies is exacerbating rifts between feuding shareholders. The latest example is Bengaluru-based TD Power Systems (TDPS), currently enmeshed in a legal dispute before the Karnataka high court over ownership of its 16 per cent equity. Vijay Kirloskar, who is asserting a claim over the 16 per cent stake held by Mohib Khericha (chairperson of TDPS) and Nikhil Kumar (managing director of TDPS and nephew of Kirloskar), has sent a letter to the market regulator, Securities and Exchange Board of India (Sebi), and stock exchanges. He accuses TDPS of insufficient disclosure concerning shareholder agreements.
Two listed firms belonging to the Baba Kalyani Group (BNK Group) have contested their inclusion as parties in a suit pertaining to family dispute over ownership of chemical firm Hikal. The co-promoters of the company - Kalyani and Hiremath families - are mired in a legal dispute, with the latter seeking transfer of ownership of shares held by the BNK Group, citing nearly three-decade old family arrangement. An affidavit filed in reply to Hiremath's suit petition in the Bombay high court, BF Investment (BFIL) and Kalyani Investment Company (KICL) have stated that they are separate and distinct legal entities and were not even incorporated and party to the 'family arrangement'.
As slowdown fears turn real, Baba Kalyani, chairman, Bharat Forge, says it's critical to have a political consensus on reforms. Industry, too, should gear up to reduce costs and seek new customers, in new markets.
This year's Budget has come at a time when the economy had just begun to recover from the impact of an unprecedented global economic crisis.
Prime Minister Manmohan Singh is likely to discuss the impact of global demand contraction on Indian economy with industry leaders in New Delhi on Saturday, ahead of the G-20 summit in London next week.
The MRSAM is amongst the most lethal surface-to-air missiles in service anywhere.
Anand Mahindra, vice-chairman and managing director of Mahindra & Mahindra, has been selected for Business India's Businessman of the Year 2007 award. Anand Mahindra was selected for the award by an eminent jury chaired by Baba Kalyani, chairman and managing director, Bharat Forge.
Asked if the efforts of the government should have been more in providing relief right now than managing their own image and perception, the National Award-winning actor said it is important for the government to rise to the occasion and do things for the people who elected them.
Indian businessmen on the forum would also include Baba Kalyani of Bharat Forge, Sunil Kant Munjal of Hero Honda, Nandan Nilekani of Infosys, Vikram Kirloskar of Toyota Kirloskar and Deepak Parekh of HDFC.
R C Bhargava, Kiran Mazumdar-Shaw & Dinesh K Sarraf are other members of the business delegation
Introduced in 2015 under the Foreign Trade Policy, the mega MEIS was created out of a merger of five existing reward schemes.
Skilling of people to use new technology in manufacturing should be encouraged, said Sun Pharma MD Dilip Shanghvi
Finance Minister Nirmala Sitharaman on Tuesday unveiled a Rs 39.45 lakh crore Budget with a view to fire up the key engines of the economy to sustain a world-beating recovery from the pandemic. This was Sitharaman's fourth Budget. While the taxpayers were left in the lurch, once again, was she able to cheer Corporate India?
'GIFT City is now on a growth trajectory,' says Tapan Ray, MD and group CEO, GIFT City, 'The time has come for the GIFT City to take the big leap and emerge as the next financial hub of Asia.'
Stocks such as NIIT, Punj Lloyd, Gati, Welspun India and BEML are favourites of the trading community.
The actor launched the Paani Foundation, which has participation from businessmen like Mukesh Ambani, Ratan Tata, Kumar Mangalam Birla.
Wishlist for new PM includes growth boosters, reining in inflation, faster project clearance and reversal of Land Acquisition Act
'After decades, there is movement on multiple fronts in artillery development. Now let us see how quickly we can get these guns into service'
'The procurement cycle still consumes too much time; little has changed.'
The 30-share Sensex ended up 142 points at 29,462 and the 50-share Nifty gained 26 points to end at 8,895.
Several CII defence committee members confirm this is now the official CII position, which conforms to that of industry bodies, Ficci and Assocham.
The Confederation of Indian Industry will organise a round table on investment.
The dust over the controversy around foreign direct investment (FDI) in the defence sector appears to have settled.
'The economy will pick up in 2020 or a little later... When it picks up, will it reach 10%, 8% or still lower? It all depends on how realistic are the diagnosis and the prescriptions that follow,' says Professor K J Joseph.
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