With the annual general meeting of Dish TV only five days away, the promoters of the direct-to-home satellite service have filed yet another case in Bombay High Court, hoping to stop YES Bank from exercising voting rights on its stake of over 24%. This is the fourth major legal challenge put in front of YES […]
Asian Paints, India’s largest paint company and one of the largest listed manufacturing companies in the country, today issued a detailed and point-by-point rebuttal of proxy advisory firm InGovern. InGovern had, in a report brought out two weeks ago, alleged that Asian Paints was sourcing a considerable part of its raw material requirement from companies […]
YES Bank, the single largest shareholder of DTH company Dish TV, today said it has not been approached by Bharti Airtel for buying the stake in Dish TV. Prashant Kumar, the MD & CEO of the bank, however indicated that bank is not averse to selling its nearly 26% stake in the company for the […]
In an unexpected announcement, Dish TV India Ltd, one of India’s largest TV channel distribution platforms, said its board of directors have called the company’s annual general meeting on the last day of this month. The announcement is unexpected given that the board had, a week ago, decided to seek government approval to postpone the […]
Adding another dimension to the legal battle over the impending extraordinary general meeting called by Dish TV’s largest shareholder YES Bank, the DTH operator said a local office of Uttar Pradesh Police has asked the company to ensure that YES Bank does not deal in or liquidate its Dish TV shares, pending an investigation by […]
Dish TV India, one of the largest direct-to-home satellite broadcasters in the world, said a shareholder resolution calling for the removal of its chairman and certain directors as proposed by YES Bank cannot be implemented without the approval of the government and lenders, and therefore, the DTH company has sought permission to postpone the annual […]
The Securities Appellate Tribunal has stayed an order by the stock markets regulator imposing strict restrictions on stock broker Way2Wealth in the ‘NSE leased line’ case. The Securities and Exchange Board of India had, two weeks ago, imposed penalties and restrictions on several parties, including the National Stock Exchange, for facilitating or indulging in unfair […]
Sun Pharmaceutical Industries today announced a list of concrete steps to address investor concerns about certain relationships that it has with a couple of entities and loans allegedly extended to another firm. Sun Pharma stock rose 4.3% on the clarification. ADITYA MEDISALES First, Sun Pharma will move the distribution activities of its India domestic formulations […]
Hospital chain Fortis Healthcare said it has set up a special committee to evaluate the bids submitted by various parties to invest money into the company. It said the company has received binding offers from the Manipal – TPG consortium and the Munjal & Burman family offices, while non-binding expressions of interest has been received […]
The Supreme Court has directed the government of India to set up a committee to suggest reforms in rules and regulations governing accounting and auditing services companies in India. The three-member committee has been asked to suggest a revamped regulatory mechanism for big auditing firms within two months. The order came in a public interest […]
Nandan Nilekani, the stand-in chairman of Infosys Ltd today gave his stamp of approval to the investigations conducted in the context of corruption allegations around the IT company, and suggested that the company and its founder Narayana Murthy will be able to develop a ‘trusting relationship’ going forward. “I am fully persuaded, as is the […]
Indian promoters are unwilling to give total management control to professional boards and managers, a survey by Assocham has revealed. A majority of the corporate firms have promoters’ holding well over 50 per cent and even those with much lower stake are not willing to bet fully on professionals, found the survey that was based […]
Infosys founder and former chairman N R Narayana Murthy is all set to lay his cards on the table on his recent allegations about possible corruption at Infosys at a conference call with investors today at 6:30 PM. UPDATE: Murthy’s call has been reportedly postponed to next week. The call comes five days after Infosys […]
Infosys Ltd director board today came out strongly in support of ex-CEO Vishal Sikka and issued a strong rebuttal to a letter released by Infosys founder Narayana Murthy. Earlier in the day, Murthy was scathing in his review of the actions taken by the company and its board in addressing concerns of poor accountability and […]
Shareholders of Raymond Ltd rejected the sale of apartments in the company’s headquarters JK House to certain promoters. Chairman of the company Gautam Singhania had urged shareholders to vote against the resolution as the sale of the apartments would cause losses to the company as a whole. Four duplex flats were let to four members […]
Industry association ASSOCHAM, which has members from most of the big industrial groups in India, today said the opaque nature of decision making in India should be done away with to prevent incidents like the latest ‘corporate espionage’ involving top industrial houses in India. In a statement, the association said: “One fails to understand what […]
Jignesh Shah’s Financial Technologies India Ltd asked Bombay Stock Exchange to specify the exact basis on which the exchange, which held unsuccessful negotiations to buy a stake in MCX, was questioning the company’s decision to sell most of its stake in MCX to the Kotak group at a discount to market price. “We reiterate that […]
