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Sebi issues show-cause notice to Raymond.
The Securities and Exchange Board of India (Sebi) has issued a show-cause notice to textile maker Raymond alleging multiple securities market violations. The allegations include failure to obtain necessary approvals for related party transactions in the JK House episode, corporate governance violation for non-disclosure of material information about litigations and non-compliance of shareholder reclassification norms. Read More
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Sun Pharmaceutical restructures India business after second whistleblower complaint.
The company's distribution related to domestic drug formulations will be shifted from Aditya Medisales, the current distributor, to its own unit, Sun said in a statement on Tuesday. This change will be effective in the first quarter of the fiscal year beginning in April, after necessary regulatory approvals, it added. Sun also denied having any financial links with co-promoter owned firm Suraksha Realty. Read More
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Lessons in Corporate Governance From 2018.
Financial reporting fraud including deliberate falsification of values and non-disclosure induces information risks along with serious quarrels amongst the stakeholders. When talking about investments, the investors usually prefer companies that have an effective corporate governance framework and non-counselling disclosures. While this is accurate, it is precarious when the management is acquiescent to break the laws to boost their paychecks. In this context, we will review various corporate failures of 2018 and incorporate certain lessons learned from them. Read More
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Complexity of Indian Financial system warrants robust Corporate Governance in Banks: Shaktikanta Das
The Reserve Bank "will take necessary steps to maintain financial stability and facilitate enabling conditions for sustainable and robust growth", said Das, The RBI governor further said that the growing size and complexity of the Indian financial system warrants strengthening of corporate governance systems in banks.
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Regulators must do the tough bit to boost corporate governance.
Sebi must show zero tolerance to corporate mis-governance, and swiftly probe into complaints alleging any irregularities in companies to prevent destruction of shareholder value. There has been no dearth of sound advice. Many expert panels that include the Cadbury Committee in 1992, Naresh Chandra, Narayana Murthy and Uday Kotak panels have given sensible prescriptions to boost corporate governance. But has that translated into action on the ground? Read More
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