More independent directors earn in crores now
There were 43 independent directors who earned more than Rs 1 crore from a single company.
Government launches independent directors' databank
"Companies also may register themselves with the databank to search, select and connect w...
Government approves allocation of 5 coal blocks, to generate Rs 17,136 crore revenue
For the first time, the successful bidders shall have the flexibility to sell 25 per cent of the coal produce in open market. "The ministry of coal, after a long gap of four years, has approved the allocation of five coal mines," the Coal Ministry said in a statement. This was the result of the auction conducted by the Centre last month.
Dharmendra Pradhan hopes coming Budget will signal inclusion of ATF, natural gas in GST
When the Goods and Services Tax (GST) was introduced on July 1, 2017 amalgamating 17 central and state levies, five commodities namely crude oil, natural gas, petrol, diesel, and aviation turbine fuel (ATF) were kept out of its purview given the revenue dependence of state governments on this sector.
Natural gas consumption to rise 3-folds in 10 yrs for 15% target: Pradhan
Natural gas currently makes up for 6.2 per cent of all energy consumed in the country. To cut dependence on coal and liquid fuels, the govt is targeting its share to rise to 15% by 2020-30. "Gas consumption has to rise to 600 million standard cubic metres per day for achieving 15 per cent share in energy basket" from current levels of 166 mmscmd, he said.
Two directors of PMC Bank sent to police custody till December 11
The Economic Offences Wing (EOW) of the Mumbai Police had arrested three PMC Bank directors- Jagdish Mookhey, Mukti Bavisi and TruBane- on Tuesday. Of them, Mookhey and Bane were produced before chief metropolitan magistrate court, which remanded them in police custody till December 11.
Late-stage Indian startups bulk up its boards with independent hands
Oyo, Ola, Freshworks, Flipkart and Paytm are mong leading home-grown tech ventures that have brought in industry veterans to address compliance and governance issues.
ED to appeal against bail to Ratul Puri
Opposing Puri’s bail, the agency had told the special court that on receipt of fresh information gathered from its probe, the Indian govt has shot off letters rogatories to different countries on November 21. ED had told the court that “numerous documents” pertaining to the chopper case were burnt by Puri and “bags of documents were shifted by him to thwart the investigation”.
Panel to assess value of assets mortgaged by PMC borrowers
The bank is currently undergoing a forensic audit the report for which will be finalised by the end of this month. But simultaneously, other assets and mortgages are also being identified by investigation agencies and the banking regulator to get back the bank’s dues.
RBI expects forensic audit report on PMC Bank by month-end
The multi-state co-operative bank has been under the RBI restriction since September 23, after it had found financial irregularities, including huge under-reporting of loans and non-performing assets to real estate developer HDIL to the tune of Rs 6,500 crore using hundreds of dummy accounts.
Mumbai: Nirav Modi declared fugitive economic offender in PNB scam case
A special court here on Thursday declared diamond businessman Nirav Modi, the key accused in the USD 2 billion Punjab National Bank (PNB) fr...
PNB fraud: PMLA court declares Nirav Modi as fugitive economic offender
Nirav is the second businessman after Vijay Mallya to be declared a fugitive economic offender under provisions of the new Fugitive Economic Offenders Act, which came into existence in August last year. Nirav and his uncle Mehul Choksi are the prime accused in PNB fraud case, related to alleged fraudulent issuance of LoU that caused a loss of over $2 bn to the PSB.
Judicial findings based on sealed cover documents of probe agencies against fair trial: SC
A bench headed by Justice R Banumathi said it was not justified for the Delhi High Court to record the findings in its November 15 verdict denying bail to Chidambaram based on the material submitted in sealed cover by the ED.
VVIP chopper scam: Witness in money-laundering case moves High Court to quash LOC against him
The petitioner, Jamil Saidi, has contended that he is not even an accused in the case, he has appeared before the ED on several occasions and answered all queries put to him by the agency. The MHA, represented by the Centre's standing counsel, Ajay Digpaul, accepted the notice and said a reply would be filed before the next date of hearing.
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