Currently the vice president and head of finance, Bansal will take over as CFO from November 1.
Infosys describes him as "a very bright star in the finance department", with it for 13 years and working under Balakrishnan for the past four years.
Ranganath has held several leadership positions.
As per the award, Infosys is required to pay Bansal the outstanding severance amount of Rs 12.17 crore, with interest
Former finance head Bansal, who left Infosys in 2015, has gone for arbitration over severance pay
Raghu Krishnan profiles the man in the eye of the storm at Infosys.
Rajiv Bansal's severance payment was Rs 17.38 crore
Ex-CFO says new incumbent steps in at the right time, will be able meet to meet challenges.
The Centre has appointed senior IAS officers Vumlunmang Vualnam and Neeraj Mittal as new secretaries in the ministry of civil aviation and the department of telecommunications respectively in a major secretary-level bureaucratic reshuffle, a government order stated.
Scheduled international passenger flights to and from India remain suspended since March 2020 amid the coronavirus pandemic. The suspension has been extended till November 30.
Pant, a 1991-batch Indian Administrative Service officer of Rajasthan cadre, is currently secretary in the ministry of ports, shipping and waterways.
Following random testing, if anybody is found Covid-positive, the sample should be sent for genomic testing at the designated INSACOG laboratory network, Union health secretary Rajesh Bhushan wrote in a letter to his civil aviation ministry counterpart Rajiv Bansal.
During a virtual meeting with health ministers and senior officials of states in view of the recent surge in coronavirus cases in some parts of the world, he said, "The Centre and states need to work in tandem and in a collaborative spirit as was done during the previous surges for Covid prevention and management."
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.
Air India Chairman Rajiv Bansal has been appointed as the new aviation secretary as part of a major top-level bureaucratic reshuffle effected by the Centre on Wednesday. K Rajaraman, additional secretary in the department of economic affairs, has been appointed as secretary, department of telecommunications, a personnel ministry order said.
Prime Minister Narendra Modi on Thursday laid the foundation stone for the Noida International Airport at Jewar in Uttar Pradesh. It will be one of the largest aerodromes in Asia.
Sanghrajka has spent 13 years in Infosys over two stints and has performed various leadership roles in the finance section.
Re-rating of Bharat Petroleum Corporation, Container Corporation, Shipping Corporation, SAIL, and Hindustan Copper, for which the government has already shown intent to divest its stake, possible now, say analysts.
The new owners of Air India will have to retain all the employees of the national carrier for at least one year post which they can offer a VRS. The gratuity, pension fund and post retirement medical benefits of existing and past employees too would be honoured by the new owner, civil aviation secretary Rajiv Bansal said. Tata Sons has emerged as the winning bidder for Air India with the government accepting its Rs 18,000 crore offer to acquire 100 per cent of the debt-laden state-run carrier.
Nilanjan Roy spent 13 years with Bharti Airtel, prior to which he worked for 15 years with Unilever across their global operations.
According to reports, an anonymous group that calls itself "ethical employees" have written to the Infosys Board as well as American regulator US Securities and Exchange Commission with the allegations. They have claimed that they have emails and voice recordings to substantiate the same.
The Bengaluru-based company, striving to return to sustained growth, is looking at different ways to reduce the cost structure, aiming to win large clients, said Rajiv Bansal, chief financial officer.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
Top decision-making body, executive council, will be dissolved on April 1.
Pai sought to look at the issue of founders raising questions as shareholder activism.
Divestment-bound Air India's pilot unions have rejected the paltry five per cent rollback in their salary cuts and warned of "industrial action" if there is no "substantial" reversal in their paycuts. In a joint letter to Air India chairman and managing director Rajiv Bansal on Thursday, the Indian Pilots' Guild (IPG) and the Indian Commercial Pilots Association (ICPA) said, "(The) pittance in the form of a five per cent decrease in the current wage cut is an outright insult, its sting magnified in light of our unwavering support and trust in this company." They said this "generosity" amounts to a reduction of about 3 per cent in the current gross pay cut for pilots. In April, Air India had reduced its pilots' salary by up to 70 per cent to partially offset the impact of the coronavirus pandemic on its finances.
Refutes claims of differences between board, founders and Sikka; board needs to do better scrutiny, says Mohandas Pai.
The fee of Rs 6 lakh consists Rs 1.5 lakh in respect of each application for each alleged offence by the company and Rs 25,000 by each of the current and former key managerial personnel for each alleged offence.
His resignation comes at a time when the company ventured in acquisitions. Bala has been one of the key players in driving this inorganic growth strategy.
Employees can be sent on LWP for six months or for a period of two years extendable up to five years, depending upon the following factors - suitability, efficiency, competence, quality of performance, health of the employee, instance of non-availability of the employee for duty in the past as a result of ill health or otherwise and redundancy.
Murthy said moral weakness and incompetence of the chairman of the board are the main reasons behind corporate scams.
The Bengaluru-based firm's revenue grew 17.3 per cent to Rs 20,609 crore in the quarter under review as compared to Rs 17,567 crore in the same period of 2017-18
According to the latest data available from the Centre and the states in the night, the total number of Omicron cases in the country was around 1,200.
Sore points: Sikka's salary, high severance pay to executives, poor disclosures.
In a letter to Air India Chairman and Managing Director Rajiv Bansal, the ICPA said, "In the press conference by Honourable Minister Shri Hardeep Singh Puri dated 16th July 2020, you had stated 'we are in negotiation with the pilots', which is far from reality." "It was not a negotiation, but the 'diktat' of the MoCA (ministry of civil aviation) which was conveyed to us. We would also like to place on record that the so-called negotiation was 'not harmonious' in any aspect," the Indian Commercial Pilots' Association (ICPA) noted.
Strict norms for arriving international passengers, especially from 'at-risk' countries, will come into effect from Tuesday midnight and authorities are stepping their vigil for effective surveillance amid mounting concerns over the emergence of the coronavirus variant Omicron.
The move will help to reduce Air India's distribution cost by 60 per cent
The development comes amid Japan's SoftBank booking an investment loss of 39.28 billion yen (USD 350 million) on its investments in India, including those in Ola and e-commerce company Snapdeal.
Air India's entire European operations are carried out with Boeing Dreamliner planes.
After Chanda and Deepak Kochchar, the Kudvas are the second power couple in the financial world to come under the regulatory glare.
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