News digest: Directors flout norms, Vedantas's expansion plan, and more

Both private and public sector firms don't have the requisite number of directors

Over 100 firms flout norms on directors
 
There seem to be quite a few empty chairs in the boardrooms of India Inc. Both the Securities and Exchange Board of India’s (Sebi’s) listing regulations and the Companies Act of 2013 mandate that a certain proportion of a company’s board be composed of independent directors. The presence of such directors is said to provide better oversight and help improve governance. Read more
 
Internal accruals to fund $8-bn expansion: Vedanta
 

Vedanta’s proposed $8-billion (Rs 560-billion) investment in various verticals will largely be financed through “internal accruals”, with the metals and mining major expecting a four- to five-fold jump in its margins in the next three years. The company plans to scale up its oil and gas, steel, aluminium, copper, and zinc businesses in India.  Read more

 
Michel referred to ‘Mrs Gandhi’, ED tells court
 
A Delhi court hearing the AgustaWestland VVIP chopper case on Saturday imposed restrictions on alleged middleman Christian Michel meeting his lawyers in Enforcement Directorate (ED) custody. The agency said he was misusing legal access by passing chits to the advocates, asking them how to tackle questions on ‘Mrs Gandhi’. Read more
 
How Indian banks fare on capital vis-à-vis global peers
 
The Reserve Bank of India (RBI) feels easing capital norms for banks in haste could be harmful for the economy. Read more
 
The last 747: Airlines dump the jumbo jet

 
About a year ago, a Boeing 747 operated by Delta Air Lines took off from Atlanta for a three-hour flight to Pinal Airpark, a boneyard for unwanted aircraft in Arizona’s Sonoran Desert. Read more