The resolution letter says that the group chairman will be taking basic salary of Rs 20 lakhs a month and maximum of Rs 40 lakhs per month.
Tyagi is also considering changes to the seven-year-old ICDR or Issue of Capital and Disclosure Requirements. In response to market participants, SEBI will be revisiting old definitions pertaining to who constitutes a promoter. Private equity funds with a sizeable stake in a company are classified as a promoter which subjects them to disclosure norms. As such PEs have been lobbying hard with the market regulator to have the ‘promoter’ tag removed.
Calling a press conference today, and a board meeting tomorrow, definitely tells you that it is a precursor to something big and Axis Bank squarely fits into the scheme of things for Kotak, said Anil Singhvi of Ican Investment Advisors.
Capital markets watchdog SEBI may be among India's most powerful regulators today but there was a time when people used to introduce its former chief U K Sinha as Chairman of SBI -- a similar sounding acronym but of State Bank of India.
Telecom stocks continued to be the top gainers on Sensex and the Nifty on the back of reports of consolidation in the sector.
"Chandra is the right man for the right job who brings a lot of experience, maturity and midas touch," V Balakrishnan, former Infosys CFO said.
Godrej Group's FMCG unit Godrej Consumer Products has left demonetisation behind in and expects a better show in the fourth quarter ending March 2017. Adi Godrej, Chairman, Godrej Group, said consumption has picked up and FMCG business is doing good.
From April, Reliance Jio will charge its customers. All domestic voice calls to any network will be free across India, to any network. There will be no roaming charges, no hidden charges and no blackout days.
Pirojsha Godrej becomes Executive Chairman while Executive Director Mohit Malhotra takes over from Pirojsha as Managing Director and Chief Executive.
Ever since the boardroom battle erupted at the conglomerate after removal of Cyrus Mistry as chairman in October last year and subsequent allegations by him, including about 'interference' by Ratan Tata, Sebi has been keeping a close watch on the developments related to the group.
Speaking to CNBC-TV18 from sidelines of World Economic Forum, Davos, Anil Agarwal, Chairman, Vedanta said the company is looking to invest Rs 60-70 crore in the oil and gas and iron ore business.
Tata Motors today appointed Tata group chief designate N Chandrasekaran as its Chairman with immediate effect.
The outflow of USD 11 billion of foreign portfolio investment in the October-December quarter is being analysed to assess the extent of impact of demonetisation on the outflows.
Moving the head of Tata Consultancy Services to the top job at Tata Sons' holding company fills a critical hole for the salt-to-software conglomerate, but it leaves another at its most valuable company ahead of a complex and unpredictable 2017.
A day after the announcement of N Chandrasekaran as the new Chairman of Tata Sons, Ratan Tata today said the appointment is a "well deserved recognition of his proven leadership capabilities" and although the job is complex he will take the group to new heights while protecting its values.
According to UR Bhat of Dalton Capital, corporate earnings for the quarter would be much worse than expected due to demonetisation.
The group clearly wants someone who will restore a reputation for good governance and probity that has taken a severe beating over the three months since Cyrus Mistry was summarily dismissed.
Tata Group patriarch Ratan Tata had personally asked Cyrus P Mistry to resign as chairman of Tata Sons as the board had lost faith in him, but his refusal led to the removal via majority vote.
Government has given 6 months extension to India Infrastructure Finance Company Ltd (IIFCL) Chairman and Managing Director S B Nayar till June.
Tata Sons had abruptly removed Mistry as its Chairman on October 24 and sought his ouster from operating companies like Tata Motors and TCS. Mistry subsequently resigned from the board of six companies, but dragged Tata Sons and his interim successor Ratan Tata to the National Company Law Tribunal.
State-run Rural Electrification Corp (REC) today said that its Chairman and Managing Director B P Pandey will continue on the post beyond December 31, 2016 till the new incumbent is appointed.
Speaking to CNBC-TV18 DK Hota, Chairman of BEML said that it has orders worth Rs 7300 crore order so far. Next year, they are aiming at orders worth Rs 5000 crore.
Stating that it has taken note of the public announcement of Mistry's resignation, Tata Sons said it would respond adequately to "baseless, unsubstantiated and malicious" allegations made by him
Government today appointed V K Sharma as the Chairman of state-owned behemoth Life Insurance Corporation (LIC) for five years.
CNBC-TV18 learns that Tata Industries has removes Cyrus Mistry as director in its EGM. Tata Sons tells CNBC-TV18 that Mistry has ceased to be Chairman of Tata Industries post removal as director.