Chandra, who will turn 69 years old on Saturday, becomes non-executive director with immediate effect.
'There is no scope for any doubt. This was a scheme designed to enrich the ruling party.'
The CPL, which was originally scheduled to commence on August 28, will now be played between August 26 and September 15.
The Union Cabinet on Wednesday gave its nod for amendments in the Insurance Act, paving way for 74 per cent foreign direct investment in the sector. Currently, the permissible FDI limit in the life and general insurance stands at 49 per cent with ownership and management control with Indian. According to sources, the Cabinet in its meeting has approval for amendments in the Insurance Act, 1938.
Logistics services provider Delhivery is likely to launch its downsized initial public offering (IPO) this week, said people in the know. The Softbank-backed firm may trim its issue size from Rs 7,460 crore to Rs 5,500 crore to align with the volatile market conditions, sources said. Sources added the fresh issue component of the IPO could be reduced to Rs 4,500 crore and the OFS component to Rs 1,000 crore.
The board of directors of Tata Steel, which met on Friday, appointed Jim Leng, chairman, Corus, as a non-executive independent director designated as deputy chairman.
'I would recommend two parts to fiscal support. One, support the lower end of the society by direct intervention through ways such as direct benefit cash transfer. Second, give fiscal support to the stressed sectors in line with the Rs 3-lakh crore (Rs 3 trillion) emergency credit line guarantee norms'
Infosys' chief executive officer and managing director Vishal Sikka says despite a healthy guidance, he can't say if this would be 'industry leading'.
India's leading capital goods and engineering firms are in the midst of one of their busiest seasons, with the combined orderbook surging past Rs 8 trillion in value. As on September 30, 2023, 13 of India's top 15 listed capital goods and engineering firms, for which data for the September 2023 quarter was available, had a total orderbook worth Rs 8.45 trillion - a number unseen at least since 2018-19. "This intuitively looks like an all-time high factoring in inflation," said Anupama Arora, a senior independent analyst who tracks the capital goods sector.
Jaguar Land Rover will continue to be managed independently.
'Not even a single rupee from the electoral bonds should be allowed to be used in the election.' 'If it is used in the election, it will taint India's electoral process itself.'
Saudi Aramco chairman and head of the Kingdom's cash-rich wealth fund PIF Yasir Othman Al-Rumayyan will join the board of Reliance Industries Ltd as an independent director in a precursor to a $15 billion deal. Reliance chairman and Asia's richest man Mukesh Ambani, who had two years back disclosed the talks to sell a 20 per cent stake in the company's oil-to-chemical unit to Saudi Aramco, announced the appointment of Al-Rumayyan at the company's annual meeting of shareholders. Harvard educated Al-Rumayyan, 51, will replace Yogendra P Trivedi, 92, who has expressed a desire to retire, Ambani said. On the sale of a 20 per cent stake in the O2C business, he said the deal is likely to conclude this year.
The decision by the Reserve Bank of India to introduce a unified regulatory framework on connected lending for all the regulated entities (RE) is expected to reduce the influence of business conglomerates in the Indian lending space, said bankers and experts. "Connected lending pertains to lending to related parties within the same business group. "While the RBI might appear more agreeable to allowing business conglomerates to own banking licenses, it deems it crucial to bolster regulations that would prevent conglomerate-owned banks from gaming the system," said Shivaji Thapliyal, head of research and lead analyst, YES Securities.
Bhakshak should create some awareness and maybe raise some compassion towards victims of abuse, observes Deepa Gahlot.
Mining magnate Anil Agarwal's conglomerate on Friday announced a major business shake-up, with flagship Vedanta Ltd approving a spin-off of its metals, power, aluminium and oil and gas businesses into separate listed entities and an overhaul of lucrative zinc unit planned as part of value creation and reducing debt load. Vedanta will issue one share of the five demerged businesses for every share held in the company, the firm said in a statement. The entire exercise, which would require shareholder and lender approval as well as a nod from the stock exchanges and courts, is expected to be completed in 12-15 months, its president for finance Ajay Agarwal said.
Mukesh Ambani has resigned from the board of his group's telecom arm, Reliance Jio and handed over the reins of the company to elder son Akash, a step seen as succession planning by the 65-year old billionaire. In a stock exchange filing, Reliance Jio Infocomm said the company's board at a meeting on June 27, "approved the appointment of Akash M Ambani, non-executive director, as chairman of the board of directors of the company." This comes after his father resigned with effect from close of working hours on June 27, it said.
Commodity exchanges are all restructuring their boards of directors, after the recently issued guidelines of the Forward Markets Commission.
The open offers for the shareholders of Ambuja Cements and ACC will begin from July 6 and close on July 19, as per a tentative schedule published by the Adani family today. With an investment of $4 billion (Rs 31,139 crore), together these two open offers might constitute the biggest open offer in corporate Indian history. The mandatory open offer for the companies was made by a Mauritius based company owned by the Adani family after they acquired a 63 per cent stake in Ambuja and 4.5 per cent in ACC from Swiss cement major, Holcim for $6.5 billion. Ambuja owns a 50 per cent stake in ACC.
She received nearly 97.7 per cent of the votes in favour of her re-appointment, while nearly 2.32 per cent votes were cast against her
The government is likely to appoint a deputy governor of the RBI by this month end despite disruption in the selection process following the resignation of former Satyam Computer independent director M Rammohan Rao from the selection committee. The government has appointed a Search Committee headed by RBI Governor D Subbarao to shortlist candidates for the post of deputy governor following superannuation of V Leeladhar last month.
'But some like Rakesh leave an imprint that is hard to remove or forget...'
A board position requires one to hold at least 3 per cent of the outstanding shares. Binny holds around 5 per cent stake in Flipkart
The details of FIR made public on Monday show that independent witness K P Gosavi and one Prabhakar Sail, now deceased, were included by the NCB in the Cordelia cruise ship drug raid on October 2, 2021 on the directions of Wankhede.
As Ayodhya readies itself for the glittering, much-awaited consecration ceremony of the Ram Mandir on January 22, and as millions of pilgrims and devotees pour into the holy city for the momentous event, companies are rushing to do their bit and be a part of the mega celebrations. Some are offering a part of their profits as donations, telcos are beefing up the number of cellular towers to ensure better connectivity, and there are those distributing jalebis and food platters.
The three women, because of their names and position, would get the eyeballs anyway, but if they do not rise above the superficial, it would be a wasted opportunity to reach out to and inspire women in particular, observes Deepa Gahlot.
Goldman Sachs had late last month announced appointment of Mittal, estimated to have a net worth of over $50 billion and CEO of the world's largest steelmaker ArcelorMittal, as an independent director effective June 28. Mittal will serve on the Audit, Compensation and Corporate Governance and Nominating Committees of the Board and would take the Goldman Sachs' board strength to 13 directors, including 10 independent directors.
'While I was performing it, I had a weird feeling that people would love it because it's so bizarre.'
Most independent directors have mastered the art of nodding whenever the chairman says anything.
The Delhi University will set up a Centre for Independence and Partition Studies to facilitate research on the "high voltage politics" accompanying Partition and how the then central leadership failed to contain the "germs of separatism", documents show.
Never before has the BJP faced such a crisis over the nomination of the Chief Minister as it is facing now, discovers Prakash Bhandari, veteran observer of Rajasthan politics.
The government should take steps to mandate that companies have at least two women board members, and at least one of them should be an independent director, in the next two years.
He is only the agent that can bring them that change for they are quite aware that he has articulated no vision on how to set Pakistan back on the rails, notes Lieutenant General Gautam Moorthy (retd).
The bill to amend the IIM Act of 2017 was introduced in the Lok Sabha last Friday amid disruptions by opposition members over the Manipur violence issue.
'But he was very quick and did a very stylish adab.' 'Of course, I didn't expect him to hug.'
The big Independence Day holiday weekend always has big releases vying for space, and this year too, there's going to be quite a clash at the box office.
As Independent India turned 76, so did the ethereal Raakhee I know better than most, says Subhash K Jha.
Jailed Iranian activist Narges Mohammadi has been awarded the 2023 Nobel Peace Prize for her fight against the oppression of women in Iran and her fight to promote human rights and freedom for all.
The under-fire Jamaica Anti-Doping Commission (JADCO) has appointed a new executive director just three days before the start of a World Anti-doping Agency (WADA) audit of its operations, the Jamaican government said on Friday.
'His time had not come, he went away before his time was up.'
All India Rank achieves a fine balance of authenticity and sensitivity in the fine portrayals of its young actors and old.
