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SBI Mutual Fund appoints Vinay Tonse as MD and CEO
“It is a huge responsibility to manage the growth dynamics of the number one fund house in the country. One which offers best-in-class investment solutions through a process driven approach which is high on transparency, convenience and value creation. With our vast distribution network, we will further strive to take the benefits of capital markets to investors across the country,” Tonse said. Read More
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SBI Chairman: Dinesh Khara Recommended as Next Chief
"Keeping in view their performance in the interface and their overall experience, the Bureau recommends as follows: Dinesh Kumar Khara for the vacancy of Chairman in State Bank of India. Challa Sreenivasulu Setty as the candidate on the Reserve List for the said vacancy," the BBB said in a statement. Read More
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YES Bank tightens noose around Jet Airways founder Naresh Goyal
The private sector lender has initiated the process to categorise Goyal and his wife Anita as `wilful defaulters’. A ‘wilful defaulter’ tag by banks may stain the reputation of persons and restrict their ability to borrow and hold board positions in companies. Read More
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SC reserves order on Vijay Mallya’s plea seeking review of contempt of court
The Supreme Court on Thursday reserved its order on a plea filed by fugitive liquor baron Vijay Mallya seeking a review of its May 2017 order holding him guilty of contempt for transferring USD 40 million to his children in violation of the court’s order. Read More
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Covid-19 has Witnessed an Uptick in the Volume of Stressed Assets Portfolio due to Adverse Impact on Earnings and Cash Flows. Strategic and Financial Investors have Postponed their Investments in these Stressed Assets, thus Delaying the Recovery of Companies that were under Stress. This Online Masterclass will Equip participants to understand the Effectiveness of Regulatory Interventions to Address the Stressed Assets Scenario and the impact of Covid-19 on Different Stakeholders and what can be expected going forward. In sync with this Tremendous Opportunity Locked in Stressed Assets, ETMasterclass in association with the Association of Independent Directors of India presents an Exclusive One-Day Insolvency & Stressed Assets Masterclass to Unlock the Opportunity.
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Single-member bench cannot hear insolvency plea, rules NCLAT
A single-member bench of the National Company Law Tribunal can’t hear and decide on a company when the law requires a division bench, including both judicial and technical members, to constitute the adjudicating authority. Indore-based Indison Agro Foods Ltd, which is facing insolvency resolution by Allahabad Bank in the Ahmedabad NCLT, had approached the National Company Law Appellate Tribunal, seeking appellate tribunal’s intervention for referring the matter to a division bench. Read More
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Opinion: What the ongoing COVID-19 crisis means for boardroom strategies
One area being discussed at boardrooms of all types of companies is supply chains, understanding the new risks of today's complex and global networks of suppliers and partners, as well as perhaps identifying skills gaps at management and board levels to mitigate those risks, Gleason added. Manufacturing and distribution channels stretched across borders and time zones may need to be redesigned to avoid the logistics nightmares experienced during the pandemic, for not only practical but also financial reasons. Read More
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ITC Plans to Merge Three Subsidiaries with itself, Board Meeting in a week
“The Board of Directors of the Company will consider a proposal for amalgamation of Sunrise Foods Private Limited, Hobbits International Foods Private Limited and Sunrise Sheetgrah Private Limited, wholly-owned subsidiaries, with the Company, at its meeting convened for Friday, September 4, 2020,” ITC said. Read More
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Corporate Coup: How a Nissan Insider Tore Apart Carlos Ghosn's Legacy
Behind every corporate coup is a mastermind. At Nissan Motor, that was Hari Nada, an insider known for his aggressive tactics and fondness for Marlboros, French cuff shirts and strong cologne. The senior vice president orchestrated a campaign to arrest and dethrone then-chairman Carlos Ghosn in late 2018 on criminal financial-misconduct allegations. The aftermath has been messy. Read More
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