'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.
Poor disclosure among India-listed firms is a turnoff for foreign investors.
'The banking sector appears to be on course to recovery,' declares the RBI governor.
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.
With filing possible only online, there is no scope for any error.
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.
"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.
'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.'
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.
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.
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.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
'Allocate some parts of one's surplus income towards cryptocurrencies, considering the immense growth potential of this emerging asset class.'
The Punjab Police on Thursday arrested the second shooter involved in the killing of Shaurya Chakra awardee Balwinder Singh Sandhu last year.
"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.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
'If the RBI had done the right things, these mistakes would not have happened in banks, public or private,' says Ajay Shah.
Given that there has been no negative news flow around Zomato, analysts believe it's time to lap up the shares at lower levels.
Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack. The report noted that issues remain in IPO companies in which there seems to be a need to institutionalise governance practices.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
Some of the disclosures in the ITR form, under review at present, increases procedural hassles for expats
Supreme Court has posed a question to Mallya about the truthfulness of his disclosure of assets and transfer of $40 million to his children
The development comes a day after RCom posted a consolidated loss of Rs 30,142 crore for July-September 2019 due to provisioning for liabilities after the Supreme Court ruling on statutory dues.
Anil Rego, CEO, Right Horizons, answers your personal income tax queries.
After missing two self-imposed deadlines, billionaire Mukesh Ambani's Reliance Industries Ltd on Friday announced recalibration of a proposed $15 billion deal to sell 20 per cent stake in its oil refinery and petrochemical business to Saudi Aramco, saying the two firms have agreed to re-evaluate the proposed investment in light of the Indian firm's new energy forays. The stake sale talks, which were first officially revealed in August 2019, are being reset in light of Reliance making forays into new energy business in recent months by investing $10 billion in alternative energy over three years. To pivot to green energy, it has already bought a German maker of photovoltaic solar wafers and signed a deal with a Danish company to manufacture hydrogen electrolysers in India.
Gearing up to ensure greater compliance by companies to listing agreement, NSE is planning to increase its headcount to bring in more efficacy in its oversight role as a front-line regulator of the securities market.
However, 157 investors managing a total of $14.2 trillion were taking first steps towards addressing climate change
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
Besides 15 loan transactions to the Siva group of companies, the former directors also used unique methods to ensure the group did not get into the default list.
It can be noted that ever since Satyam Computers scandal came out in January 2009, the audit world, especially the Big Four, have been under fire from the regulators.
The central government should provide for free vaccination to all Indian citizens and greatly ramp up RT-PCR testing in both rural and urban areas, a group of former civil servants said on Thursday in an open letter to Prime Minister Narendra Modi.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Coming down heavily on MF players who in recent past chose to use shareholder fund to buy out debt of bleeding invested companies, Sebi said MFs can't have standstill agreements with companies and will take action against fund houses for such deals.
Nandan Nilekani said the co-founders have served the company "selflessly" and remain committed to the long-term success of Infosys.
As a multi-agency probe into the NSE case gathers pace, the grant of preferential server and data access to select brokers and their suspected misuse are being investigated threadbare to unveil all quid pro quo arrangements in a highly-sophisticated scheme that worked like a cricket betting scandal, officials said on Monday. While the bourse has said it has taken several steps over the years to strengthen its technology infrastructure, including as per regulatory orders, the officials said certain fresh disclosures call for a detailed probe into whether a select group of individuals in high positions had banded together to make illicit gains by facilitating the preferential trading slots, beginning over a decade ago. Even a split-second faster access is said to result in huge gains for a trader.
The department apparently suspects the use of shell firms or front entities in some aspects of such remittance. Money might, it suspects, have moved in some cases from tax-free jurisdictions or tax havens to accounts in the UAE and some South Asian countries.
Roopam Asthana, CEO and whole-time director, Liberty General Insurance Ltd, answers your queries on HEALTH and AUTO insurance.
'Those who come from outside are surprised at the relatively small strength of the RBI supervisory cadre, relative to the needs of the country and the needs of the financial sector.'
'The Central Public Information Officer is not required to furnish information which requires drawing of inteference and/or making of assumption, or to interpret information, or to solve the problem raised by the applicant, or to furnish replies to hypothetical questions. 'The Information sought does not come under the definition of information as defined in Section 2(f) of RTI Act, 2005. The CPIO has no specific information to provide (sic),' it said.
'We are all in a tizzy about NBFCs in the aftermath of the IL&FS default.' 'We tend to jump to the notion that an NBFC is like a bank. But banks make a promise that deposits are liquid and have an assured return.' 'NBFCs make no such promises,' points out Ajay Shah.
