Pratt, who joined the firm in 2004, has left the company to start his own entrepreneurial venture.
One associate feels rebuilding trust in existing and prospective clients will take six months to a year. "Currently, it's business as usual for those who are involved in project development but not for those in business development. We don't have financials and without it we cannot convince clients about our capabilities. Now that we have come under the umbrella of Tech Mahindra, things may change for the good soon," he said.
Move to ensure deals do not hit govt licence fees, revenue share.
A Group of Ministers on public sector Steel Authority of India Limited will meet on Friday to review its performance and restructuring.
L&T -- which has two subsidiaries L&T Infotech and L&T Technology Services -- is keen to bring Mindtree under its fold to exponentially raise its client base and product offering.
The parade of some of the most interesting first-quarter corporate performances continues
SBI was slow in filing and following up on winding-up cases.
The company cited the global financial turmoil and shareholders' objections as reasons for the sudden change of plan. On September 9, Vedanta had said it wanted to reorganise businesses under three major subsidiaries, creating a group for copper and zinc, another for aluminum and energy (mainly power) and the third for iron ore.
There were concerns in some quarters that the airline would defer the purchase of some aircraft in order to save costs.
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
Cash-strapped retail chain Subhiksha Trading Services on Monday ruled out declaring bankruptcy and said it may consider selling stake to raise funds as it struggles to arrange Rs 300 crore (Rs 3 billion) to meet immediate operational requirements.
'It seems PM Modi is running a bank fraudsters settlement company for the likes of Nirav Modi'
The privately-held company founded by Indian-American Amar G Bose would not say how many positions would be eliminated at its corporate headquarters in Massachusetts or how many workers it employs there. Bose issued a statement on Tuesday saying it was 'restructuring its operations in response to the decline of the global economy, and its impact on consumer spending.'
Banks and financial institutions are seeking more flexibility in dealing with commercial and industrial loan accounts, which are seeing pressure due to cash flows and repayment.
Earning a salary? Looking to save tax the smart way? You have two options: salary restructuring and tax-saving instruments.
Calling for 'fundamental restructuring' to put India back on its growth trajectory, McKinsey said on Wednesday that the country will run out of capital to support economic expansion.
Developers in the past year have restructured debt, sold non-core assets and tweaked the product mix, helping push up sales. This has encouraged investors to buy stocks of real estate companies and motivate analysts to revise price targets and upgrade the outlook on the sector. Reflecting the positive sentiment, the Bombay Stock Exchange Realty Index rose 58 per cent in the past month, outpacing the benchmark Sensitive index's gain of 27 per cent.
TCS is setting up a large BPO operation in Varanasi next year, some staff could be absorbed there
Sportswear maker Nike Inc will be reducing nearly 1,750 jobs, representing nearly five per cent of its global workforce, as part of its restructuring efforts.
'An entrepreneur should always remain under pressure or he will die,' Vineet Rai tells Anjuli Bhargava.
The National Aviation Company of India Ltd, that runs the government's flagship carrier Air India, has formally begun looking for a chief operating officer to steer the airline as part of its restructuring plan.
Not chasing IIM-A graduates whose joining dates have been deferred by rival Flipkart, says the company
'She was the unanimous choice of the search-cum-selection committee.'
These top level changes have come soon after Flipkart co-founder and Group CEO Binny Bansal resigned over allegations of serious personal misconduct in November.
Wockhardt had a net debt of Rs 3,400 crore (Rs 34 billion) as of December 2008. It was hoping to reduce this, sources said, by selling its Irish subsidiary, Pinewood Laboratories, and a stake in Habil Khorakiwala's privately-held Wockhardt Hospitals. A Wockhardt spokesperson declined comment. An e-mail sent on Tuesday to the chairman remained unanswered.
Banks have Rs 10 trillion in stressed assets - Rs 7.8 trillion of bad loans and Rs 2.2 trillion of restructured ones.
Labour law changes for three years may not be enough as it takes a couple of years for factories to build and operations at a proper scale start only in the third or fourth year.
Sri Lanka on Monday put off indefinitely a decision to sell off part of the state-run oil company to Bharat Petroleum as trade unions threatened to stop work, triggering panic buying at petrol stations across the country.
Shutting of stores had not stopped alcohol sales. On the contrary, it had increased black market operations and peddling of illicit hooch, which could cause death/serious injury.
The government's financial restructuring plan for loss-making Air India may include a staggered infusion of equity, entailing an initial infusion of around Rs 1,300 crore (Rs 13 billion), going up to around Rs 2,000 crore (Rs 20 billion), depending on the company's need.
Monnet, which has already acquired 27 per cent in Orissa Sponge at Rs 283 per share, made an open offer for another 20 per cent at Rs 310 per share. Monnet group executive vice-chairman and managing director Sandeep Jajodia said, "We have formed a joint venture with Orissa Sponge existing promoter P K Mohanty. Under the deal, the Monnet group will have three directors, while Mohanty, who will have around 18 per cent stake in the company, will have two nominees on the board."
The Employees' Provident Fund Office in Chennai said it intends to attach the properties of the promoters of struggling retail chain Subhiksha to meet provident fund dues for around 4,500 employees in and around the city.
There was no relief for existing home buyers who are stuck in stalled projects and are paying both rent and EMI on their home loans.
