Corporates are also citizens that count: Kumar Mangalam Birla

Posted on 2021-01-20T20:36:29+05:30 - companies

“These are not acts of corporate benevolence, but they recognise the symbiotic nature of the various components of a functioning economy,” he said. “A corporation is, after all, not merely an inanimate thing. It is expected to be humane, ethical, have empathy, and be a caring friend of society.”

Discrepancy in employee verification soars across sectors: Report

Posted on 2021-01-20T09:37:57+05:30 - companies

According to the Trends Report quantifying the hiring trends and qualifying the nature of discrepancy patterns in India, curated by US-headquartered background screening firm First Advantage India, the increase in discrepancy percentages were higher in Q3 as compared to Q2.

Cholamandalam Investment and Finance MD Arun Alagappan quits; to assume larger role within group

Posted on 2021-01-18T22:02:04+05:30 - companies

Alagappan has tendered his resignation as MD and as a director of the company as he wishes to move ahead to assume larger responsibilities within the group and the board has accordingly considered and accepted the same, Cholamandalam Investment and Finance Company said in a regulatory filing.

Company Law Committee recommends decriminalisation of LLP Act, introduction of 'small LLPs'

Posted on 2021-01-18T20:39:45+05:30 - companies

The committee also suggested the introduction of the concept of a small LLP in line with small companies under the Companies Act, and provision for issuance of non-convertible debentures (NCDs) by LLPs to raise funds.

Govt asks Antrix to file petition to wind up Devas Multimedia

Posted on 2021-01-18T20:16:26+05:30 - companies

The Ministry of Corporate Affairs has cited a rule in the Companies Act, 1956 that allows a petitioner to file for the winding up of a company if it has, in the petitioner’s opinion, been formed for “fraudulent and unlawful purposes”.

Indian companies prepare to buy vaccines for employees

Posted on 2021-01-18T18:33:01+05:30 - companies

As governments rush to inoculate the most vulnerable, however, most corporations globally have so far been quiet on whether they would seek to secure early supplies for employees.

India beats emerging markets peers in boardroom gender parity

Posted on 2021-01-18T16:17:50+05:30 - companies

A study by global index provider MSCI showed that women constituted 17% of Indian boards against 13% in China, 10% in Russia, 9% in Mexico and 14% in Brazil. But India trails South Africa (29%), Thailand (19%), the US (28%) and the UK (34%) in ensuring diversity at the highest decision-making body of a company.

Infosys Foundation to construct 100-bed hostel for girls at IIIT - Tiruchirapalli

Posted on 2021-01-18T13:47:09+05:30 - companies

​​The foundation stone-laying ceremony of this facility took place on Monday, in the virtual presence of Sudha Murty, Chairperson, Infosys Foundation, and Prof N S V N Sarma, Director of IIIT - Tiruchirapalli, an Infosys Foundation release said.

Lessons from TVS Group rejig: Towards filling each other’s cup but not drinking from the same cup

Posted on 2021-01-18T09:42:15+05:30 - companies

The TVS rejig suggests an attempt to simplify the ownership structure at the group level and doing away with crossholdings. It also points towards a greater alignment of interests between the owners and managers. Over time, the influence of a unit of the family over the companies managed by other units of the family may come down.

DLF restructures existing loans to lower interest costs, targets to save Rs 300 crore annually

Posted on 2021-01-17T22:52:05+05:30 - companies

“In March 2020, most of our loans were at 9% interest rate, by December, we had reduced it to 7.5%,” Ashok Kumar Tyagi, whole-time director at DLF Ltd, told ET. “Our existing lenders are offering aggressive rates. We believe the average interest rate should be around 7.5%.”

Adani refutes Swamy’s tweet allegations, claims “impeccable” credit record

Posted on 2021-01-17T17:33:46+05:30 - companies

“The Adani Group strongly objects to a factually incorrect tweet posted by Mr Subramanian Swamy...” said the group with interests in coal, infrastructure, electrical supply and airports in a tweet from its official Twitter handle.

Include certain elements in vaccination programme towards CSR spend: CII to govt

Posted on 2021-01-17T15:36:08+05:30 - companies

The Confederation of Indian Industry (CII) Taskforce has made several important submissions to V K Paul, Member, Niti Aayog and Rajesh Bhushan, Health Secretary and the National Expert Group on Vaccine Administration for COVID-19 (NEGVAC), sources said.