TVS Motor Company has appointed Ravindran Shanmugam, a technology entrepreneur and business leader, as an independent director for a five-year term, effective May 13, subject to shareholder approval.
Less than 12 per cent of the exits were from companies with Rs 10,000 crore in market capitalisation or above.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
Following the end of the grandfathering period given to India Inc to replace their independent directors who had already served for 10 years, certain companies have come up with unique ways to replace the old guard.
At a time when the role of corporate boards is once again under the scanner, independent directors on the Paytm Payments Bank board have indicated that red flags were raised over regulatory issues but they may have been late in doing so. "As independent directors, we asked questions and monitored responses to the Reserve Bank of India (RBI). Many changes were made on compliances. "Obviously, in retrospect, it was not found to be enough," said one of the independent directors on the condition of anonymity.
In efforts to bolster corporate governance among listed companies, Sebi on Tuesday approved various amendments to rules governing the appointment, re-appointment and removal of independent directors, including the requirement to disclose resignation letters of such individuals. There will be a one-year cooling period for an independent director transitioning to a whole-time director in the same company/ holding/ subsidiary/ associate company or any company belonging to the promoter group. As part of the review of regulatory provisions related to independent directors, the Sebi board has cleared amendments to Sebi (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar.
The ICC has announced the appointment of Dr. Ros Rivaz as its new Independent Director, succeeding Indra Nooyi. Rivaz brings extensive experience in governance, corporate strategy, and operational effectiveness to the role.
Independent directors of Raymond Ltd on Friday said they are monitoring the situation arising out of the matrimonial dispute of company's Chairman and Managing Director Gautam Singhania to ensure it does not affect his capacity to manage the affairs and business of the firm. In a joint communication shared on BSE by the company, the independent directors also said they have decided to retain Berjis Desai, a senior independent legal counsel, who has no links with promoters or the company, for advising them.
The International Cricket Council (ICC) concluded its Annual Meetings, establishing a new Governance Review Committee headed by BCCI secretary Devajit Saikia.
Independent directors of Future Retail Ltd are collating information and will expose the details of contradiction and misrepresentation made by Amazon before the Competition Commission of India (CCI), said FRL independent director Ravindra Dhariwal. Speaking to PTI, Dhariwal said the independent directors are "collating" all the pieces of information together, going "deeper into each and every representation" which Amazon had made before the CCI and showing how its "intent was totally contradictory." "We are going out to point exactly to CCI, this is what they have told you and this is what the internal documents are saying. "We are going to expose the details of contradiction and details of misrepresentation, which they have made," Dhariwal said adding "We are going to show the true face of Amazon to the whole world". In November 2019, Amazon had acquired a 49 per cent stake in Future Coupons Pvt Ltd (FCPL), a company that holds a stake in FRL.
HDFC Bank, India's largest private sector lender, reported a reduction of 3,343 employees in FY26, bringing its total workforce to 2,11,178, even as its balance sheet expanded by 12 per cent. The bank's MD and CEO, Sashidhar Jagdishan, attributed the headcount reduction to redeploying talent from back-end functions to customer-facing roles due to technology-led efficiencies. The annual report also addressed the challenging resignation of part-time chairman Atanu Chakraborty, which raised questions about the bank's governance standards.
Five of the 10 best-paid independent directors belonged to the Tata group, followed by four from Reliance Industries and one from Wipro.
As many as 104 listed companies have fewer independent directors than mandated by the regulations, according to the figures from Prime Database, reports Sachin P Mampatta.
Amazon violated FDI norms, allege Future Retail independent directors.
The International Cricket Council (ICC) has reaffirmed its commitment to the Development Pathway Programme for Afghan refugee women cricketers, setting an ambitious target for the team to compete in the governing body's qualification pathway by 2030.
Independent directors of Satyam were not involved in the multi-crore accounting fraud in the IT company and were kept in the dark by founder-chairman B Ramalinga Raju, the Serious Fraud Investigation Office has concluded.
Since independent directors are not involved in the day-to-day management of the company, their liabilities should be distinguished and made less onerous than liabilities of the executive and non-independent directors, said a CII statement.
Hampton Sky Realty Limited, formerly directed by Punjab minister Sanjeev Arora, has issued a statement asserting its innocence and cooperation with authorities following the arrest of Arora in connection with a money laundering probe.
The scene was ultimately dropped in favour of the ending in which Nikki survives.
India's markets regulator, Sebi, has issued a warning to listed companies and regulated entities about an emerging cyber fraud known as the "Boss Scam." This scam involves fraudsters impersonating senior officials like CEOs or MDs to trick finance teams into transferring funds, often using advanced AI tools or malicious software. Sebi advises organisations to verify requests independently and report incidents to prevent financial losses.
Ratan Tata-led interim management of Tata Sons is seeking to oust Mistry from his positions in the operating group firms, including IHCL and Tata Motors
'It was only after Aishwarya ran for 100 days and became a massive hit that Shah Rukh Khan signed Deepika Padukone.'
Sridhar Kalyanasundaram, an independent director of private sector lender Dhanlaxmi Bank, has resigned from the board with effect from September 16. In his resignation letter, Kalyanasundaram has raised issues like factionalism in the board, his differences regarding rights issue and the alleged 'lack of in depth banking knowledge' in other members. This comes after Ravindran Pillai, head of RP Group, who holds 9.99 per cent stake in the bank (largest shareholder), came out with a special notice for removal of Kalyanasundaram.
Behind the aesthetics of an entrepreneurial lifestyle lies a silent financial crisis that nobody is talking about: Freelancers are sprinting toward a retirement brick wall.
In the draft norms issued last month, the RBI said that the ultimate responsibility for the bank's performance, conduct and control rests with the Board
The ministry said some urgent amendments are not there in the ordinance but are required for strengthening the corporate governance
Till now, there was no provision in the Companies Act that allowed a remuneration for the non-executive director if the company was in loss or had inadequate profits. Only the executive director was entitled for a remuneration in the event of a loss.
The move opens a debate on the role of independent directors nominated by institutions.
More than seven of 10 independent directors sitting on the boards of listed companies to improve corporate governance are "home" members, while only few women make it to such positions, says a study.
Independent directors, who served on the boards of many companies without taking interest and spent insignificant amounts of time in meetings, have turned corporate governance into a 'farce', Madhav Mehra, president of UK-based World Council for Corporate Governance said.
How did hundreds of errors slip through multiple stages of drafting, editing, proofreading, expert review and final approval before making their way into classrooms?
The Supreme Court has urged the Kapur family, including Rani Kapur and Priya Kapur, to resolve their dispute over the family trust through mediation, appointing a former Chief Justice to oversee the process.
Experts highlight India's significant market potential for assistive technologies, estimated at Rs 75,000-95,000 crore by 2030. They advocate for a National Assistive Technology Policy to address current gaps in access and service delivery, fostering inclusion, independence, and economic participation for persons with disabilities and the elderly.
'I am aware that my time is running out, and there's so much to do.'
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Currently, the ministry has not set any limit for the tenure of independent directors.
Climate experts explain how El Nino and climate change are intricately linked, with El Nino delaying monsoon onset and climate change intensifying rainfall. This new reality is altering the Indian monsoon's behaviour, leading to short-duration, high-intensity rain spells, especially in western and northwestern regions.
Despite a wobbly screenplay and an overstretched runtime, Anbe Diana charms with its light-hearted approach and Ramya Ranganathan's performance.
