An estimated 291 independent members of boards of companies in the Nifty 500 resigned in the six months ended September compared with 126 a year earlier, according to nseinfobase.com, a joint initiative of the National Stock Exchange of India and PRIME Database that provides corporate data.
Six Tata trusts had their registrations cancelled & will now challenge the order before ITAT.
We stand by the company and each other as promoters, Mistry told. We are not moving away from our commitment to honour in full all the obligations towards the company. The promoters were scheduled to pay Rs 2,563 crore to Sterling and Wilson Solar by November 18. The promoters had repaid Rs 250 crore.
India’s economy and businesses are facing many measurable, well-understood challenges. But an invisible crisis that is just as corrosive and harder to fix is underway: the erosion of trust. This is playing out at multiple levels.
“Under SBI’s leadership, once the company gets some priority funds and restoration of existing lines of credit, the operations can get to full swing,” Seshadri said. “We need to understand one thing here. This is a case of fraud on the company and not by the company. Money was taken out of a healthy company that was generating close to 300-400 cr of Ebitda.
Will have to cease operations if forced to pay tax and arrears, said one of the six trusts.
N Chandrasekaran says technologies such as cloud and AI will help fill the gap of India’s “missing middle”.
Law firm Shardul Amarchand Mangaldas and consultancy EY has been tasked to probe the whistleblower charges.
Online ad sites are using AI and other filters to prevent stolen vehicles from getting listed on their platforms, but their efforts are only helping partially. A large number of stolen vehicles are finding their way into online classified ad platforms.
Most LOCs are only too real as a number of businessmen have been discovering to their discomfort.
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