Company Board

IDFC First Bank shareholders reject Warburg Pincus board nomination

A special resolution to allow Warburg Pincus affiliate Currant Sea Investments to nominate a non-executive director failed to get the required 75% shareholder approval

Religare seeks RBI nod for new directors; moves to remove Saluja, Asthaana

The board also recommended the removal of directors Rashmi Saluja and Rakesh Asthaana from the boards of subsidiary companies and committees

Women's representation up significantly on boards of top 100 cos: Report

The representation of women on the boards of India's top 100 companies has significantly improved over the past four years, with only five firms lacking a woman independent director as of March 2024, according to a survey released on Monday. The 5th Annual Corporate Governance Survey by Excellence Enablers are based on the annual reports and website disclosures of Nifty 100 companies. As of March 31, 2024, five companies, including four public sector undertakings (PSUs) and one public sector bank (PSB), did not have a woman independent director on their boards. While this is an improvement compared to 21 such companies in FY 2021, the persistent lapses highlight the need for stricter enforcement, the survey revealed. While having at least one woman independent director (ID) on boards has been mandated under Section 149 of the Companies Act, 2013, and Sebi's LODR regulations, there is no similar provision to ensure that women executives are nurtured to graduate to board positions, ..

Board committees: The driving force behind board's efficiency and direction

Digital transformation, cybersecurity, artificial intelligence, recruitment and retention, climate change, geopolitics are just some of the more recent issues that boards need to address

Nisaba Godrej resigns as independent director from VIP Industries board

Godrej Consumer's executive chairperson Nisaba Godrej has resigned as an independent director from the board of luggage and travel accessories maker VIP Industries, citing differences over leadership accountability and succession planning. The resignation of Godrej group scion as an independent director came on June 3, VIP Industries said in a stock exchange filing on Tuesday. Godrej in her resignation letter said: "Due to my differing view on leadership accountability and succession planning, I will be resigning from the Board effective June 3rd, 2024." The board of VIP Industries is led by Dilip Piramal as Chairman of the Rs 2,250-crore company. Nisaba Godrej was reappointed to the board of VIP Industries in April 2021 as an independent director and her term was ending on March 31, 2026. She attended all five meetings held in FY23 and has voluntarily waived off receipt of sitting fees for any meetings attended by her, said the annual report of the company. In her resignation le

Voda Idea likely to bring in new equity partners; board meeting on Tuesday

The company's board of directors is meeting this Tuesday to decide on the amount of the fundraise

Demystifying significant beneficial ownership of a company

The present corporate structure requires a company to be well-founded if it wishes to play long innings. By well-founded, I mean transparent, ethically managed, and profitable

Legal safeguards for independent directors vital to attract top talent

CII has suggested that proceedings against IDs may be initiated only once there is prima facie evidence of their possible involvement in the matter, rather than as a matter of course

Religare board has no power to reject open offer for company: Burmans

The independent directors, however, have the powers to make a recommendation to the shareholders, lawyers said

ITC board gives in-principle approval for demerger of hotels business

The move may improve ITC's ROCE by 2,000 bps

CG Power and Industrial board approves manufacturing capacities expansion

The Board of CG Power and Industrial Solutions Ltd has given its consent to expand the manufacturing capacities of motors at its facilities, the company said on Tuesday. The manufacturing units located at Ahmednagar and Goa would be taken up for expansion at an outlay of Rs 230 crore and for transformers at its plants in Bhopal and Malanpur at an investment of Rs 126 crore, the company part of the diversified conglomerate Murugappa Group said. Meanwhile CG Power and Industrial Solutions Ltd said it has reported a consolidated profit after tax for the quarter ending March 31, 2023 at Rs 426.22 crore. The company had registered consolidated profit after tax at Rs 111.65 crore registered in same period of last year. For the year ending March 31, 2023 the consolidated PAT stood at Rs 962.97 crore as compared to Rs 913.07 crore registered in same period of last year. Total income on consolidated basis grew to Rs 1,917.05 crore for the year ending March 31, 2023 from Rs 1,492.77 crore .

Policy decisions see a disconnect as regulators remain headless

"It is not good governance practice and sends the wrong signals to the corporate world. The selection process should start three months before the incumbent retires. Bureaucracy needs to push harder"

When silver is gold for company boards: Over 300 directors 'octogenarians'

321 company directors are octogenarians, 22 are over 90, largest chunk in 45-60 band

Kirloskar Bros shareholders to vote on forensic audit starting Tuesday

Kirloskar Industries, a key investor in KBL, had sought the audit over legal fees of Rs 70 crore incurred by the latter. An EGM to consider this issue will be held on Dec 8

India will reach 30% gender diversity on company boards only by 2058

2024 'board refresh' could mark opportunity to accelerate change, says IiAS report

Amagi's valuation crosses $1.4 bn amid funding woes, raises $100 mn

The media technology provider has raised over $100 mn in investment, inclusive of $80 million in primary capital, from global growth equity firm General Atlantic

Wipro announces appointment of Amit Choudhary as chief operating officer

Wipro Limited announced the appointment of Amit Choudhary as Chief Operating Officer (COO) and member of the Wipro Executive Board

Kirloskar Industries' Board seeks forensic audit on Kirloskar Brothers

KIL raised questions whether the KBL Board, especially the independent directors of KBL, verified the claims made by Sanjay Kirloskar in relation to the Deed of Family Settlement

Bajaj Finance Q2 results: Net profit jumps 88% to Rs 2,781 crore

The company booked 6.76 million loans in Q2FY23, up 7 per cent YoY compared to 6.33 million loans booked in the year-ago period

Sebi slaps Rs 10 cr penalty on Gautam Thapar for alleged fund diversion

Passes final order in CG Power fund diversion case; also fines Avantha Holdings Rs 5 cr and deal lenders IndusInd Bank and Aditya Birla Finance Rs 1 cr each