'In the business of money, where you are regulated, the liability lies on the head of the acquirer.' 'It is not a good thing when you cannot spot the risks.'
Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
LVB had faced some serious flak in terms of bad loans, earnings and credit rating downgrades, since 2016.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
The proposals are expected to be part of the new Companies Bill, 2011.
'The government believes there is still significant scope to bring more people under the tax net and collect the right amount of taxes, in cases where taxpayers are underpaying,' says Kuldip Kumar, partner and leader personal tax, PwC.
Kushner in an 11-page statement said he hopes that that he has been able to demonstrate the entirety of his "limited contacts with Russian representatives during the campaign and transition".
Do you know the most common exclusions in a mediclaim plan? Or, why your base premium keeps increasing over a period of time?
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
Sebi's stewardship code for mutual funds and alternative investment funds lays down six principles to improve corporate governance standards in their investee companies, reports Jash Kriplani.
Since 2016, Sebi has made many rules to prevent unauthorised trading by stockbrokers. Yet, one comes across dozens of cases of blatant overtrading in client accounts, every year, leading to massive losses to investors, observes Debashis Basu.
The PMS manager can only charge performance fee to investors if the fund has crossed its highest value as on the day when the fee is supposed to be charged.
Google Inc announced a surprise overhaul of its operating structure on Monday, creating a holding company called Alphabet to pool its many subsidiaries and separate the core web advertising business from newer ventures like driverless cars.
While seven companies bagged orders worth Rs 42,000 crore, industry experts said most of this new order activity was a spillover, and fresh project finalisation remains weak.
Analysts say IT major cleaning up act before new CEO takes over; regulator might take a year
Republican presidential frontrunner Donald Trump on Friday came under scathing attack from rivals Ted Cruz and Marco Rubio who blasted the real estate mogul on his immigration stand and for hiring foreigners in his business projects, as the debate turned shriller ahead of the crucial "Super Tuesday".
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
The Financial Industry Regulatory Authority has fined Citigroup $650,000 for violation of disclosure and supervisory norms involving a stock borrow programme.
The money stashed away in tax havens is estimated at between $5.6 trillion and $32 trillion, numbers to make your eyes pop, asserts T N Ninan.
'Sebi has to make sure that investor interests are protected and at the same time, there isn't over-regulation so that companies don't get discouraged to list here.'
Sebi also plans to examine if any comments made by company officials or the bankers could have misled investors.
Poor disclosure among India-listed firms is a turnoff for foreign investors.
'Any normalisation exercise will bring its share of volatility.'
These mistakes can turn out very expensive and not just in terms of your finances, but also in the time it will take to resort to the conflict at hand. Having a legal hand can save you from any unforeseen troubles, alerts Harshit Malik, entrepreneur, wisdom coach and enrichment guide.
With filing possible only online, there is no scope for any error.
'With just 2.4 per cent of global landmass, India houses six to eight per cent of planetary biodiversity and hence is a prime target of wildlife criminals.'
The Panama Paper leaks were originally revealed by the International Consortium of Investigative Journalists on April 4, 2016, following which, the government had set up the MAG to probe the matter.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
On Friday, shares of Tata Motors rose by 2.68 per cent and Tata Steel went up by 1.85 per cent on the Bombay Stock Exchange.
Palo Alto-based electric carmaker Tesla has initiated talks with the government on the modalities of setting up fully-owned retail outlets. The company needs to comply with the foreign direct investment (FDI) guidelines related to single-brand retail, including local sourcing norms, to sell directly in India. At least two other foreign majors - Apple and Ikea - were engaged in talks with the government long before the sourcing norms were eased under the single-brand retail route.
'We have not issued notices randomly.' 'We have done the risk profiling of individuals, and sent to those whose profile has not matched with their declared income.'
Tata Sons, the holding firm of the Tata group, and a few group companies have pledged part of their stakes in Tata Steel, Tata Power and Tata Teleservices (Maharashtra) to raise money for acquisitions and capital expenditure, according to disclosures made on Monday.On January 21, the Securities and Exchange Board of India made disclosure of pledged shares mandatory after it came to light that former Satyam Chairman B Ramalinga Raju had pledged almost his entire holding.
The matter pertains to the Rs 173.8 million severance offer given to former CFO Rajiv Bansal in October 2015 when he was allegedly forced to step down due to differences with then chief executive Vishal Sikka over the acquisition of Israeli technology firm Panaya for $200 million.
"The company has been in touch with the Securities and Exchange Commission (SEC) regarding the anonymous whistleblower complaints (anonymous complaints) and has learnt that the SEC has initiated an investigation into this matter. The company will cooperate with the SEC's investigation," Infosys said in a statement.
'Modi had not discussed demonetization with me prior to his announcement on 8 November 2016. 'I learnt of it along with the rest of the country. 'I was not surprised when he did not discuss the issue with me prior to making the public announcement. 'It fitted in with his style of making dramatic announcements.' A fascinating excerpt from Pranab Mukherjee's The Presidential Years: 2012-2017.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
Robbed ornaments worth over Rs 50 lakh has also been recovered from the possession of the accused who was arrested from Madhya Pradesh, officials said.
"The response (to the PMGKY) has not been so good...about Rs 5,000 crore of income was declared in PMGKY," Revenue Secretary Hasmukh Adhia said.
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
The Punjab Police on Thursday arrested the second shooter involved in the killing of Shaurya Chakra awardee Balwinder Singh Sandhu last year.
