Sashidhar Jagdishan, the managing director and CEO of HDFC Bank, has announced his decision not to seek reappointment and will retire at the end of his current term on October 26, concluding a six-year tenure marked by significant regulatory and governance challenges, including RBI restrictions, a major merger, and scrutiny over alleged illegal payments.
HDFC Bank's board has imposed a monetary penalty of Rs 1 lakh each on its Managing Director and CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and Group Head (Retail Assets) Arvind Vohra for divergence from RBI directions in the Maharashtra State Road Development Corporation (MSRDC) case.
The government has suspended its directive requiring airlines to offer at least 60% of seats on flights without additional charges, following industry concerns about the impact on fares and pricing structures.
Interim All India Tennis Association (AITA) President Chintan Parikh has accused court-appointed administrator Justice (Retd.) Gita Mittal of financial exploitation and procedural bias, alleging that her actions are draining the sports body's finances and compromising its autonomy.
'Once the actual scope is understood, it becomes evident that the framework is about internal redress and course correction, and in no way criminalisation.'
With the Asia Cup starting September 9 in the UAE, the team could play without a sponsor logo after the government passed the Online Gaming Bill.
Many buyers skip or misread critical provisions in builder-buyer agreements.
The Supreme Court's ruling in the BPSL case exposes deep flaws in the IBC's institutional framework and raises concern about judicial overreach, notes Rajeswari Sengupta.
'The answer is not for me to give. The answer either way has to be heard from the industry itself. Tell us why not if you are not doing it; tell us if you are doing it -- why should this question remain unanswered?'
Tesla owner billionaire Elon Musk and Indian American entrepreneur Vivek Ramaswamy in an op-ed provided an insight into their blueprint for an unprecedented government reform that includes mass federal job cuts and massive expense reduction.
India Inc is staring at significantly higher compliance and governance costs, following the Securities and Exchange Board of India's (Sebi's) latest tightening of disclosure norms and regulations around the filling of key positions, the materiality of information, and third-party transfers. Recently, the securities market regulator amended the Listing Obligations and Disclosure Requirements (LODR) to introduce a raft of changes that will affect how listed companies go about transparency and disclosures. The new framework will further empower public shareholders and soon move towards a 'comply or be penalised regime or comply or explain' in the case of high-value debt-listed entities.
The aviation authority is concerned about financial health of Air India, Spicejet and Jet Airways.
At this point of time, the requirement of the economy is obviously more investment, which will create more jobs and increase purchasing power that will sustain a high level of production, says K M Chandrasekhar.
While the market regulator's recent note on portfolio management schemes has kicked up a storm, that is not the only pain point for businesses, says N Sundaresha Subramanian.
The three main regulators have different approaches to grievance redressal and different standards to stop harmful from coming pitched at the consumer.
The critics say the move is against the interest of the consumers and favours big corporate companies.
CAG may not be the cure-all for the ills that afflict PPP projects and is perhaps a sub-optimal solution to the problem.
For stressed loans, the need is to prevent disruption in cash flows from a systemic perspective, conserving employment and assets in untainted enterprises with the potential for recovery, says Shyam Ponappa.
White House said Trump strongly believed that protecting environment and 'promoting our economy are not mutually exclusive goals'.
Nestle refused to regret the mistake in a public statement.
