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Offshore guarantees, takeover bids from foreigners worry India Inc
Invocation of offshore guarantees given by Indian companies, pressure from overseas lenders, and takeover attempts by deep pocketed foreigners amid plummeting stock and asset prices are among the concerns creeping in as Covid-19 continues to impact business and life. Read More
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RIL to hit NCD market with Rs 10,000-crore issue on April 16.
To cash in on cheap funds flooding the debt market through the targeted long-term repo operations route, Reliance Industries will raise Rs 9,000 crore through an NCD sale to refinance the existing high-cost rupee debt. The most cash-rich company is also one of the most indebted corporates sitting on a debt pile of over Rs 1.54 lakh crore as of March 2020. Read More
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Sachin Bansal Becomes Managing Director of Navi Technologies.
Flipkart Co-founder Sachin Bansal has been appointed as Managing Director of Navi Technologies, his second entrepreneurial venture in the space of financial services after he exited from the ecommerce marketplace. Read More
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Karnataka Bank Re-Appoints Chairman, Chief Executive.
The board of directors of Karnataka Bank have re-appointed P Jayarama Bhat as part-time chairman (non-executive) and M S Mahabaleshwara as CEO and managing director of the bank with the approval of the Reserve Bank of India. Read More
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The Significance of Directors & Officers Insurance during COVID-19.
The Coronavirus-caused illness, (Covid-19) has spread rapidly across the world, creating an unprecedented challenge due to the severe health and economic setbacks caused in the immediate aftermath, with an anticipation of getting worse with the passage of time. In a regular scenario, directors are skilled at handling critical corporate decisions, but there is perhaps no existing handbook on what steps to take in situations like the ongoing pandemic, with its ensuing lockdown and the uncertainty of business disruption. Despite thoughtful planning, directors’ actions in times like these might prove to be inadequate, or in some cases could even backfire. Here is a quick checklist of some important steps to help you get through these testing times. Read More
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India: Corporate Governance Reliefs Announced In View Of The Novel Coronavirus (COVID-19).
The Union Finance & Corporate Affairs Minister, Government of India, Smt. Niramla Sitharaman, in her recent interactions with the press announced multiple relaxations to statutory and regulatory compliances under various legislations viz., Companies Act, 2013, Limited Liability Partnership Act, 2008, Insolvency and Bankruptcy Code, 2016, Income Tax Act, 1961, the Goods and Services Tax legislations, Customs Act, 1962 etc. Read More
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Should Board of Directors Create a Special Committee to Oversee the Response to the Pandemic?
In recent years, discussions of corporate governance best practices have included the pros and cons of having a separate Risk Committee of the Board of Directors. While there has been increased focused on the Board’s oversight of the corporation’s assessment and control of risks, it is not always clear that a Risk Committee is the best approach for non-financial institutions. Read More
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China corporate governance in doubt after two accounting scandals in week
TAL Education Group, a tutoring business whose success turned founder Zhang Bangxin into one of China’s richest people, delivered the latest bombshell on Tuesday after saying a routine internal audit found an employee had inflated sales by forging contracts. TAL’s American depositary receipts sank as much as 18 percent in late U.S. trading. Read More
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Corporate Governance Obligations are Changing as a Result of COVID-19
The FCA have implemented a temporary policy whereby listed companies have two months flexibility to publish their annual financial reports. Companies therefore have six months from the end of the financial year to make their financial publications. Read More
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