If raters get away by moving from AAA to D overnight after companies default, as happened with DHFL, YES Bank, RCom, and IL&FS, it shows a complete breakdown in the rating system. It calls for exemplary punishment, not kid glove treatment, says Debashis Basu.
Moreover, all her existing and future entitlements such as any unpaid amounts, unpaid bonuses or increments, unvested and vested and unexercised stock options, and medical benefits will be revoked.
A corporate lawyer said that this is the biggest failure of corporate governance in this country. He pointed out that American investors can even take the bank to court for giving false statements to stock exchanges and even file class action suits. Some even questioned how RBI overlooked Kochhar's misdeed.
The I-T department said NuPower's balance sheet did not substantiate the high premium paid by Singapore-based DH Renewables for its shares, and suspects it could be a case of round-tripping of unaccounted income by NuPower.
These together account for 40 per cent of bad loans of around Rs 4 trillion.
Consumer durables major Videocon Industries' subsidiary Datacom Solutions, which has received telecom licences to begin pan-India operations, is planning to commence network rollout starting August 15 and services by year-end, becoming one of the first newcomers to launch operations.
Dhoot stated that Value Industries has not withdrawn the application and has only sought clarifications from RBI on certain issues.
Consumer durable companies are witnessing a slowdown in sales of finance-linked products after banks and finance companies reduced their lending, fearing a sharp rise in defaults.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Bankers say debt resolution bills are coming high as resolution professionals are giving the human resources and audit/legal consulting to outside firms to plug all the loopholes.
Telecom major Bharti Airtel led the growth in segment with net addition of 1.31 million subscribers.
Videocon Group Chairman Venugopal Dhoot on Thursday clarified that the group would be paying Rs 950 crore (Rs 9.5 billion) to the Maharashtra government's town and industrial infrastructure subsidiary CIDCO for a 100-hectare plot in Navi Mumbai and not Rs 300 crore (Rs 3 billion) as claimed by some people.
The Department of Telecom has worked out a one-time spectrum charge of over Rs 2,060 crore to be levied from operators for the period they remained in business after their licences were cancelled in February last year, sources said.
The Supreme Court on Tuesday granted 10-year time to telecom firms like Vodafone Idea, Bharti Airtel and Tata Teleservices for paying the Adjusted Gross Revenue (AGR)-related dues to the department of telecommunications with certain conditions.
Aditya Birla Nuvo gets board's nod, Videocon submits application.
Corporate houses getting into music retail are turning the outlets into multi-product stores that will offer apparel and even perfumes.
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
A round-up of all the Ranji Trophy matches played on Thursday.
GAIL (India) Ltd and its partners on Wednesday signed the Exploration and Production Sharing Agreement with government of Oman for Block 56 in Muscat.
A round-up of results from the Ranji Trophy matches played on Sunday.
Differences have cropped up between Sourav Ganguly and main sponsors of his cricket academy.
The creditors of Daewoo Electronics have rejected the proposal of the Videocon Industries-led consortium to acquire the company for a lower price, with a part of the proceeds being invested in the company in the form of convertible bonds.
Sensex rises, snapping two-session losing streak; banks, auto gain.
A delayed monsoon and soaring temperatures across the country are added near-term positives.
Indian consumer durable market faces competition from Korean dealers.
A round-up of Day 3 of the Ranji Trophy matches played on Saturday.
Here's what your favourite celebrities have been upto.
Summary of all Ranji Trophy matches played on Saturday
Reader Sunny Jain has sent us this photograph of the star.
Banking is a boring business but still the banker should enjoy it as fancy awards and cozy relationships with politicians, Bollywood stars and corporate honchos cannot save them if the job is not done properly. In the concluding part of the series Tamal Bandyopadhyay wonders how long Kochhar would need to wait for her redemption or downfall and atonement.
The Indian captain signed an MoU with Videocon International Limited for establishing a world class cricket academy in Kolkata.
Makers of air conditioners, beverage and ice-cream are hopeful of a boost in sales
Idea, Reliance and BSNL have call drop rates in the range of 10 per cent or above.
RJio's LYF, Videocon and other smartphone makers to also get notices
Institutional Investor Advisory Services had recommended investors to vote 'against' the proposal, while Stakeholders Empowerment Services asked investors to vote 'for' the proposal.
The list of companies include big names such as Colgate-Palmolive, Hero, Maruti Suzuki, Hyundai, Videocon, Onida, Arvind Mills, Nokia and Mahindra & Mahindra.
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