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Shobana Kamineni clarifies on Apollo Pharmacy demerger reports.
Apollo Pharmacy has grown very large and we had several discussions with large investors and together with all the shareholders where we got a 99% agreement that company would be split and very clearly they saw value in the way that we are going about it, says Shobana Kamineni, Executive Vice Chairperson, Apollo Hospitals. Excerpts from interview with ETNOW. Read More
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Infosys whistleblower complaint: Here's what has happened so far.
A recent whistleblower complaint filed by Infosys' employees raised questions over corporate governance at the IT major. Market regulator Securities and exchange Board of India (SEBI) and its US counterpart Securities and Exchange Commission (SEC) are investigating the matter. Read More
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Public Company Board Directors Take Action on Controversial Issues.
“To describe 2019 as a turbulent year for companies would be an understatement,” said Amy Rojik, BDO USA’s National Assurance Partner - Communications and Governance. “Now, more than ever, public company board members are providing a steady hand through strategic direction, oversight and risk management—making them an essential voice when planning for issues from digital disruption to market volatility.”.Read More
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Market Veteran Madhu Kela Bats For Clear Guidelines On Whistleblowing.
While sharing his expectations from Samvat 2076 on the occasion of Mahurat trading, Kela voiced his views on the Infosys issue. “There should definitely be a name of the person and why it should be made public. What happened in the case of MCX? There was some whistleblowing which happened, the stock fell down and then it recovered. I am sure Infosys as a company – they are the torchbearers of corporate governance in India. Read More
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Exam for independent directors won’t guarantee better policing.
To be sure, many firms, especially family-owned firms, skirt the provisions on ID's by appointing persons who are independent in name only. These ‘independent’ directors then serve mostly as rubber stamps, more so because they are often not familiar with laws governing companies, the conduct of business, even basic accountancy and other facets of corporate governance that they are supposed to ensure are complied with. Read More
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SoftBank is turning to its Sprint leaders to bail out WeWork.
SoftBank has a reclamation project on its hands. This week, CEO Masayoshi Son swooped in to take 80% control of WeWork in what amounted to a bailout of the office-sharing company after the public markets rejected it. We’ve seen this move before. Last time, the results weren’t exactly stellar. Six years ago, SoftBank bought a 72% stake in Sprint, increasing it to more than 80% over time, in an effort to become a major player in U.S. wireless. Read More
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Explainer | How well are whistleblowers protected by the law?
The Whistleblower Protection Act, 2014 lays down a set of rules to protect whistleblowers who attempt to expose any wrongdoing in the bureaucracy. It was tabled and passed by the Lok Sabha in 2011, and finally became an act of Parliament after a delay of over three years, in 2014. Read More
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Are Bankruptcy Blocking Provisions in Corp Governance Docs Enforceable?.
It has long been the law that creditors are rarely entitled to contractually prohibit a debtor from filing for bankruptcy, whether such restriction is contained in the debt instruments or in the corporate governance documents. In contrast, governance provisions which condition a bankruptcy filing on the vote or consent of certain equity holders that are unaffiliated with any creditor are frequently enforced. Read More
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