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.
West Bengal Chief Minister Mamata Banerjee has set an ambitious goal of winning over 215 seats in the 2026 state assembly elections, aiming to secure a fourth consecutive term for the Trinamool Congress (TMC). She declared that the party will work to significantly reduce the BJP's tally and ensure that their candidates struggle to retain their deposits. The TMC's national general secretary, Abhishek Banerjee, echoed this sentiment, urging party workers to ensure a decisive victory and achieve a two-thirds majority in the upcoming polls. The BJP, however, dismissed the TMC's claims, stating that Banerjee is merely trying to boost morale among party workers.
Japanese agri-equipment firm Kubota is taking cues from Suzuki Motor's strategy to establish India as its global production hub, according to a report by Nikkei Asia. The acquisition of Escorts in 2022, leading to the rebranding as Escorts Kubota, a prominent tractor manufacturer in India, which held the fourth-largest global market share, offered Kubota a crucial foothold in the Indian and international markets, complementing its strengths with Escorts' established presence.
Two more directors on Monday resigned from the board of Satyam Computer Services, taking the number to three, following differences over an abortive acquisition deal involving two firms promoted by chairman Ramalinga Raju's family.
Private sector bank board members have urged the Reserve Bank of India (RBI) top brass to consider workload management of the boards as they feel there are too many issues that go to the boards for approval and the situation becomes unmanageable at times. The views were conveyed to the regulator on Monday in a conference of directors of private sector bank boards on the theme "Transformative Governance Through Sound Boards". RBI governor Shaktikanta Das, deputy governors Swaminathan J and M Rajeshwar Rao, and other senior officials of the central bank participated in the conference.
Chinese smart devices firm Xiaomi's India head Muralikrishnan B has resigned from the company to pursue his interest in academic research, the company said on Monday. He will continue to support Xiaomi India as an independent Strategic Advisor, the company said. "Muralikrishnan B, the current President of Xiaomi India, will be transitioning out of his role at the end of the year.
The ministry of company affairs is of the view that the maximum number of directors, which the companies would have on their boards, be left to the firms themselves and the government would have no say on this.
'When there is a money crunch in the industry, actors like us are the ones who face budget cuts. Not the big actors.'
These changes will entail a relook at the various laws governing banks in the country - the two Bank Nationalisation Acts (passed in 1970 and 1980); the State Bank of India (SBI) Act of 1955; and the Companies Act of 2013.
'Reena stayed in the next building. We fell in love but had to meet secretly because her parents didn't approve of me.' 'I would always be afraid that her parents would get her married off to somebody else.'
Here's what you must know about the new rule, its implications, and whether it affects taxpayers' rights and privacy.
Arjun Menon looks at the Top 10 South films that made an impact in 2024.
In terms of the opening day, Rohit Shetty's film may take the lead since he has assembled a big star cast and each one will bring their own fanbase. On the other hand, the Kartik Aaryan-starrer will entice an audience of its own, since, as a franchise, Bhool Bhulaiyaa has done quite well.
The Supreme Court of India has ruled that it is mandatory to consider the twin conditions laid out in the Prevention of Money Laundering Act (PMLA) when deciding bail applications in money laundering cases. The court emphasized the seriousness of the crime and the need to comply with the rigorous requirements of Section 45 of the PMLA, which includes giving the prosecutor an opportunity to oppose bail and ensuring that the court is satisfied that there are reasonable grounds to believe the accused is not guilty and unlikely to commit another offense on bail. The ruling was made in response to an appeal filed by the Enforcement Directorate against a Patna High Court order granting bail to an accused in a money laundering case. The Supreme Court found that the High Court had granted bail without properly considering the requirements of Section 45 and remanded the case back for a fresh review.
How do you stay calm, relaxed and focus on the important things that matter in the countdown to your special day? Get expert advice from rediffGURUS.
Let's Make Savings As Exciting As Spending. This World Savings Day, rediffGURUS Nitin Narkhede, Milind Vadjikar and Ramalingam Kalirajan are all set to answer your queries on savings and investments.
The move, initiated by the Haryana government, aims to "instill a deep sense of patriotism and national pride" among students, the directorate of school education, said in the circular issued on Thursday.
The biggest releases of 2025 will actually start arriving in theatres from the Independence Day weekend.
'Netflix, Amazon Prime Video, Crunchyroll, and Disney+ Hotstar are continuously expanding their Anime libraries.'
Joginder Tuteja looks at the big clashes in the Independence Day weekend in the last decade.
Embattled retailer Future Retail Ltd (FRL) on Tuesday moved the Supreme Court to avert insolvency proceedings over missing a loan repayment deadline, even as its independent directors rejected an Amazon-supported offer to sell the company businesses at less than a third of what Mukesh Ambani's Reliance is offering. India's second-largest retailer, which operates multi-brand retail chains such as Big Bazaar, Easyday and Heritage, failed to pay Rs 3,494.56 crore to lenders by the due date of December-end and sought a 30-day grace period to resolve the situation. Unable to find money, it moved the apex court seeking to restrain its lenders from declaring the company a defaulter, which can invite initiation of insolvency proceedings.
Mynampati, who is now being questioned by the team of market regulator SEBI, got a total package of over Rs 3.5 crore (Rs 35 million) during the year ended March 2008, while founder and Chairman had to contend with just about one fifth.
'He has always let us do our own thing but if we ever need anything, he is there with the best advice.'
Both are in serious trouble, but the Satyam and Subhiksha cases appear vastly dissimilar in many respects, except for one stunning similarity.
A four-term Congresswoman, 2020 presidential candidate and NYT bestselling author, Gabbard is a veteran with three deployments to war zones in the Middle East and Africa. She recently moved from being a Democrat to a Republican member.
Unbelievable, did you say? Ramalingam Kalirajan explains the simple math.
Rajya Sabha member of Parliament and senior advocate, Kapil Sibal, has expressed his displeasure over some of the recent judgments passed by the Supreme Court saying he has 'no hope left' in the institution.
As much Preity would like to be relieved of everyone's ebullient expectations of her, truth is few have fizzed up the silver screen like she has.
Sukanya Verma quizzes you to find out just how much you know about the movies.
'It is for the first time that a film of mine will be released in theatres and Indian audiences will finally be able to buy tickets and experience it on a big screen, where cinema truly comes to life.'
'Abhishek is known to launch new 'stars' and not 'kids.' He has always been successful with that. He has a lot of patience for new people. I won't say to tolerate them, but to nurture them. All of them have done very well.' Rediff.com's Mayur Sanap, Hitesh Harisinghani and Afsar Dayatar report from the trailer launch.
'Laws have been used in a way to serve the needs of the current regime and its authoritarian ideology.'
Proxy advisory firm IiAS has recommended that institutional investors should vote against the appointment of Anant Ambani on Reliance Industries Ltd's (RIL's) board, citing his age as the reason. The firm has, however, given its green light to the appointment of Anant's elder siblings - Akash and Isha. In its recommendation note, IiAS said, "At 28 years of age, his appointment as a non-executive, non-independent director does not align with our voting guidelines."
'Along with Blackstone, we would be keen to look at opportunities in the North.'
Amabni to relinquish the position next month to join BofA's non-fiduciary global advisory council.
While Satya's pleasures are palpable -- among them the poetry of the coarse language, the mercifully rough-hewn texture, the oh-so-familiar underdog story -- these pleasures hit you at a completely different speed. The movie is charged with a sense of discovery, and every shot is a cornucopia of details existing independent of the main story. It's touching, notes Sreehari Nair.
'About whether I'm worried it will blow up into something, no, I'm used to these things.' 'I am a voice in the city and have said quite a few things that may have ruffled feathers. But I stuck with them because it's your truth.'
The 1984-batch IRS officer was otherwise to remain in office till November 18, 2023, according to the notification issued by the government.
Essex have been fined 100,000 pounds ($132,190) after admitting to a charge of racism at the county club which they failed to address between 2001 and 2010, England's Cricket Regulator said on Wednesday.
