Cricket South Africa's (CSA) franchises have experienced profits for the first time since the country was reinstated into international cricket in 1991. CSA President Chris Nenzani attributed this achievement to heightened corporate governance and diligent operational processes at its affiliates. "Congratulations to all concerned with these outstanding results," Nenzani said.
'At the first board meeting I chaired, I sensed that corporate governance is an issue in this company.' 'I started taking steps that may have aggrieved a few.' 'This has now become a mission I intend to accomplish before I step down.'
The Delhi Metro on Wenesday started taking action in connection with the back-to-back mishaps at a construction site here with removal of a senior official and initiated security audit of its critical structures.
The latest whistle-blower revelations of multiple shenanigans at global ride-hailing app Uber, coming thick and fast after serial exposes of various dodgy practices at Facebook, Apple, Amazon, Netflix, Google in the recent past raises uncomfortable questions about India Inc. If the FAANGs, Twitter and Uber can be guilty of multiple and diverse transgressions what's happening in Indian corporations? It can be nobody's case that India's largely family-owned and - managed private sector is a beacon of transparency or best corporate governance practices, bolstered as it is by an informal omerta among employees, managements and even boards.
'You write stories about the world you live in.' 'The day I try to write a film with agendas in mind, I will be a fake.'
The Board of Control for Cricket in India's stand with regards to participation in the 2024 Olympic Games in Paris, audit firm Deloitte's presentation on financial irregularities and revision of pay structure in domestic cricket are on the Committee of Administrator's agenda when they meet BCCI's top office-bearers, in New Delhi, on Wednesday.
From real estate to metals, what Sitharaman's Budget has in store.
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
With audits and greater emphasis on anti-evasion measures, more tax demands will lead to more litigation. So, it is a bit early to start celebrating. GST is still work in progress.
The Union cabinet on Wednesday approved the roll-out of the 'PM POSHAN in Schools' scheme that will provide hot cooked meal to students of elementary classes in government and government-aided schools across the country.
Perimeter security will be strengthened at army bases under six commands, the sources said.
Markets watchdog Sebi on Tuesday decided to tighten norms for utilisation of IPO proceeds by companies, introduce special situation funds to invest only in stressed assets and amend various regulations, including those on mutual funds and settlement proceedings. The board of Sebi, which met on Tuesday, also gave its nod for amending Foreign Portfolio Investor (FPI) regulations and introducing a provision for appointment or re-appointment of any person, including as a managing director or a whole time director or a manager, who was earlier rejected by the shareholders at a general meeting. Once the amended norms are in place, such appointments or re-appointments can only be done with the prior approval of the shareholders.
Start-ups don't care that mad-money funding comes to a hard stop after an IPO, observes Debashis Basu. As a listed entity, corporate actions have to take the interests of all shareholders, especially minority shareholders, into account. So far, we are not seeing any sign of it, observes Debashis Basu.
Divide in management, board on appointments of brass.
Many businesses hire blockchain developers to provide the finest solutions and establish new technologies by utilising their superior expertise.
It is the biggest issue we have ever faced in the securities market, where a sensitive and systemically important institution and first-line regulator was not only exploited by unscrupulous elements but functioned like a private fief, points out Debashis Basu.
A multi-functional facility, equipped with 36 specially designed vaults for storage of Electronic Voting Machines and VVPATs, was on Friday inaugurated by Chief Election Commissioner Sushil Chandra in Delhi, officials said.
'I never thought an invisible character like Radhiya would get me that much visibility.'
For working moms, it is not so much time management, but focus management, notes Mansi Zaveri, founder and CEO, kidsstoppress, a parenting platform.
Singapore is slated to bring in Singapore Variable Capital Company, a new legal entity which can be used as a vehicle for investment. SVACC is expected to simplify the process of redemption for open-ended funds.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
Amidst a debate on controversies surrounding some of the Comptroller and Auditor General reports, the high level committee that went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three-member body.
With increase in range and payload capability, Madhavan said the new variant will be much superior than Tejas Mark-IA, 73 of which are being procured by the Indian Air Force from the HAL under a Rs 48,000 crore deal that was approved by the government on January 13.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
Capital markets regulator Sebi on Tuesday asked listed companies to work towards splitting the roles of chairman and managing director before the April 2022 deadline, as the new directive is not aimed at weakening the position of promoters. Listed entities were initially required to separate the roles of chairperson and MD/CEO from April 1, 2020 onwards. However, based on industry representations, an additional time period of two years was given for compliance. The regulation will now be applicable to the top 500 listed entities by market capitalisation, with effect from April 1, 2022.
Air Commodore J S Dhamoon, who was commanding the Pathankot air force base when it was attacked by heavily armed terrorists last year, has taken pre-mature retirement from service.
Mobility company Ola's chief financial officer Swayam Saurabh and chief operating officer Gaurav Porwal are leaving the company. These developments come at a time when the SoftBank-backed company's core ride-hailing unit is planning to go public and for which it raised $500 million from Warburg Pincus and Temasek in July this year. These investment firms had partnered with the company founder Bhavish Aggarwal for this round.
Stock exchanges and other market infrastructure institutions as well as their top officials are liable to face penalties for lapses in handling and recitfying technical glitches, with Sebi putting in a place a stricter compliance system driven by "financial disincentives". The markets watchdog has come out with a detailed Standard Operating Procedure (SOP) for Market Infrastructure Institutions (MIIs) less than five months after a technical glitch halted trading at the country's largest bourse NSE for nearly four hours. There will be a "financial disincentives" structure for MIIs -- stock exchanges, clearing corporation and depositories -- for any business disruption beyond pre-defined time, according to a circular issued on Monday.
The compensation would be met through levy of a cess called 'GST Compensation Cess' on luxury items and sin goods like tobacco, for the first five years.
World Athletics president Sebastian Coe says his sport can have a huge influence on helping the post-pandemic world address the global health crisis and is making plans to ensure that it is ready to take on that responsibility.
This heroine-centric film is appealing and makes for a worthwhile watch. Just go and enjoy it and let the cascade of emotions engulf you.
We sought Rs 2,000 crore from government to revamp security infrastructure at bases and installations. But it is yet to give a single rupee: Armed forces. The armed forces will have to spend money on revamping security infrastructure from funds allocated in defence budget: Defence ministry.
Trinamool Congress (TMC) supremo Mamata Banerjee on Saturday trained her guns on the Congress, saying that Prime Minister Narendra Modi will become more powerful as the grand old party is not serious about politics, and alleged that the country is suffering because that party does not take decisions.
India's Shashank Manohar elected unopposed as independent chairman of International Cricket Council (ICC).
'Earlier the planning process was services specific, with others coordinating. 'Now we shall have an apex leader backed by a structure, who is accountable to provide single-point advice, based on best of all options dependent on geographical and situational intrigue, and that too, after validation,' says General Anil Chait (retd), the former central army commander.
The company board, wherein Siddhartha's wife Malavika Hegde is also a director, met on Wednesday to put in place a working structure of the company.
The airline has struggled to pay salaries and vendors on time and its Rs 10,963 crore fund and non fund based facilities have now been assigned 'D' rating by ICRA - the seventh rating downgrade since March 2017.
'If today, I have to take up a nude role, I will, if I like the script and the director.'' 'It has to affect me as a script and be meaningful.' 'It should not be to titillate the audience.'
