Institutions are finding their voice at the annual general meetings of Indian companies, especially on executive pay and director appointments. And shareholder activism is only expected to rise. AGMs are dominated by management-backed ordinary resolutions that can be passed by a simple majority. That’s changing
The Delhi High Court sought response of Vikram Bakshi, estranged partner of McDonald’s India, on the company’s plea seeking enforcement of an arbitral award to transfer shares in their joint venture to the burger chain. The London Court of International Arbitration in its September 12
The CBI has issued a fresh notice to Karti Chidambaram asking him to appear before the agency for questioning on October 4 in the Aircel-Maxis case, people familiar with the matter said on Wednesday. Karti had, on September 14, refused to appear before the CBI
United Spirits Ltd. (USL) has settled with SEBI a case of alleged takeover norms violations regarding share purchase in Pioneer Distilleries, according to an order. The leading brewer, presently the promoter of Pioneer Distilleries, paid Rs 8.19 lakh towards settlement of the alleged default. In
The Election Commission has rejected a plea of sidelined AIADMKleader TTV Dhinakaran to grant 15 days additional time to submit affidavits in the party symbol dispute case and said the hearing would take place on October 6 as scheduled. The poll panel had last week set September 29 as the
A plea was moved on Wednesday in the Delhi High Court challenging various provisions of the Insolvency and Bankruptcy Code, claiming they were in violation of fundamental rights. A bench of Acting Chief Justice Gita Mittal and Justice C Hari Shankar listed the petition on
National E-Governance Services registered with the Insolvency and Bankruptcy Board of India as country’s first information utility. Under the Insolvency and Bankruptcy Code, an information utility is tasked with storing, authenticating and verifying financial information received from companies and their creditors. The financial information includes:
Lynn Tilton, whose aggressive management style made her a success on male-dominated Wall Street, won a U.S. Securities and Exchange Commission trial she’d spent months fighting to avoid. SEC administrative law judge Carol Fox Foelak ruled in favor of Tilton over allegations that she and her
The Centre on Wednesday extended the deadline for obtaining Aadhaar for availing government schemes and subsidies by three months to December 31. The extension is, however, only for those who are yet to apply of Aadhaar, an order issued by the Ministry of Electronics and
A recent notification by the Ministry of Corporate Affairs restricts the ability of certain companies to create multiple layers of subsidiaries. The notification is being seen as the government’s attempt to address opaque fund-raising activities, and intensify the crackdown on black money and shell companies.