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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

BS Web Team  |  New Delhi 

Illustration by Binay Sinha

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 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

referred to ‘Mrs Gandhi’, ED tells court

A Delhi court hearing the on Saturday imposed restrictions on alleged middleman Christian 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

First Published: Sun, December 30 2018. 00:08 IST