At the same time, it is always "generous" and open to reasonable suggestions from the corporates, Sebi chief UK Sinha said, but regretted the fact that companies often come out with such "suggestions" after new regulations have already been framed.
What does a Chief Minister do when he runs out of ideas on how to boost investments in the state? He turns to the corporate big wigs who live in the state capital.
In a sharp criticism of regulator Sebi's new insider trading norms, industry leader and Biocon chief Kiran Mazumdar Shaw on Friday said these rules have "draconian intent" and will kill the ESOPs.
The company's net sales grew by 15 percent at Rs 857 crore for the period under review as compared to Rs 742 crore in the year-ago period, Biocon Ltd said in a statement.
Kiran Mazumdar Shaw, CMD, Biocon says there is a need to protect interest and disallow monopolies like big pharma or big companies/ corporates that want to invest and take advantage of the Indian market.
Drugmaker Biocon Ltd may hive off its contract research services arm, Syngene International Ltd, in the long run to help fund the development of its own products, it said, ahead of an initial public offering (IPO) of the unit.
The research arm of biotechnology major Biocon has received the approval from capital markets regulator SEBI for IPO in June after filing draft red herring prospectus (DRHP) through its lead merchant banker Axis Capital in April.
SBI chief Arundhati Bhattacharya, ICICI bank head Chanda Kochhar, Biocon founder Kiran Mazumdar-Shaw and HT Media chairperson Shobhana Bhartia are among the world's 100 most powerful women, according to the Forbes' annual list which is topped by German chancellor Angela Merkel.
Biocon's Kiran Mazumdar Shaw said the company deliberately took a hit on its topline in order to rationalize products. Biocon is focusing towards being a specialized products player.
Biocon's fourth quarter profit after tax climbed 78 percent year-on-year to Rs 201 crore led by exceptional gains of Rs 105.06 crore (on account of sale of shares of Syngene).
Biocon plans to list its research arm Syngene and on Wednesday filed prospectus with the market regulator Sebi. It aims to raise around Rs 600 crore.
Biocon will be offloading at least 10 percent of Syngene equity as it needs funds to support some of its R&D programmes.
Shares of Biocon gained 3 percent intraday Friday on getting approval from the Mexican health authority for its insulin glargine.
The company's insulin Glargine has been approved by Cofepris, the Mexican health authority, through its Mexican partner PiSA Farmaceutica (PiSA), Biocon said in a statement.
Kiran Mazumdar Shaw, Chairperson and MD, Biocon also said that Syngene has good growth prospects and sound business plan and has a baseline valuation of Rs 3,800 crore.
Take a look at what has made Kiran Mazumdar-Shaw of Biocon a true Indian business icon.
Rubbishing concerns that the increasing FDA scrutiny of Indian pharma companieswas a case of "irrational clampdown", Biocon CMD Kiran Mazumdar-Shaw told CNBC-TV18 that the US regulator is mandating more stringent norms for companies across the world.
Sunil Munjal, joint managing director of Hero MotoCorp and senior member of CII expects finance minister Arun Jaitley to focus on manufacturing, infrastructure and logistics sectors.
Indian Business Icons (IBI) 2015, is a special initiative by CNBC-TV18 for celebrating 15 years of leadership. These names are now thrown open to public voting. The icon in focus is Kiran Mazumdar-Shaw.
Biocon had previously said it planned to list Syngene but had not given a timeline. Late on Thursday, it said its board had approved starting the process of listing and hiring merchant bankers to sell 10-15 percent from Biocon's majority stake in the unit in the public offer.
Vishal Sikka, Infosys' CEO; Arundhati Bhattacharya, chairperson, SBI; and B Prasada Rao, executive chairman, BHEL, are the new entrants.
Kiran Mazumdar Shaw said economy needs some urgent boost. Government must come out with short-term measures that will accelerate economic growth.
NR Narayana Murthy said that software industry has overtaken PSUs as biggest job creator in the country with about 32 lakh-strong workforce and further addition of two lakh new jobs a year.
ICICI Bank's Chanda Kochhar and Shikha Sharma of Axis Bank follow Bhattacharya at the second and the third place respectively.
Biocon has launched INSUpen EZ, a second-generation insulin-delivery pen device, developed by Germany‘s Haselmeier. â€œThis is a low-cost pen, which will help us penetrate the market in a bigger way,â€ CMD Kiran Mazumdar-Shaw told CNBC-TV18‘s Ekta Batra and Nigel D‘Souza.