SEBI warns trustees of VC funds over investment lapses
The Securities & Exchange Board of India (SEBI) has issued show cause notices to IDBI Trusteeship Services and Vistra, two trustee companies, in connection with investment lapses by venture capital funds. Even though trustees do not have a role in the day-to-day functioning of alternative invest
U.K. Sinha appointed as Chairman of NAM India
The Board of Directors of Nippon India Life Asset Management Ltd. (NAM India) has approved the appointment of U.K. Sinha as an Independent Director & as Chairman of the Board, with effect from May 1, 2023. Sinha, a 1976 batch IAS officer is an ex-Chairman of the market regulator SEBI. He had ear
Efficient controls are crucial to prevent persistent fraud, states MCA
The government has warned that frauds are likely to persist as the economy grows, citing recent scams involving mobile apps, and has urged companies to implement effective controls and governance frameworks to prevent such frauds. During the current fiscal year, the capacity of the Serious Fraud Inv
Nanda steps down from Mahindra after 50 years
Arun Nanda, who is credited with building Mahindra Holidays & Resorts into a global company, has announced his retirement as its chairman after 50 years of service. Nanda, aged 74, informed the board that he will retire at the annual general meeting on July 25, in compliance with the age limit f
Karur Vysya Bank appoints Chinnasamy Ganesan as Independent Director
Chinnasamy Ganesan has been appointed as an Additional Independent Director at Karur Vysya Bank Ltd. With over 34 years of experience in the field of audit, he has worked with Indian and multinational clients across various sectors such as automotive, IT/ITES, telecom, consumer markets, banking, and
Anant Maheshwari appointed as Chairperson of NASSCOM
Anant Maheshwari, the President of Microsoft India, has been appointed as the new chairperson of the National Association of Software and Services Companies (NASSCOM) for 2023-24, succeeding Krishnan Ramanujam of Tata Consultancy Services. Rajesh Nambiar, Chairman and Managing Director of Cognizant
Shareholders reject proposals Sobha shareholders vote against resolution for increased remuneration to Ravi Menon
The shareholders of Sobha Ltd have turned down two special resolutions proposed by the company. These resolutions aimed to increase the remuneration of non-executive directors and the chairman, Ravi PNC Menon. To be approved, each resolution needed at least 75% of votes in favour. However, less than
Crompton Greaves Consumer Electricals has announced the appointment of Promeet Ghosh as its new Managing Director and CEO
Promeet Ghosh has been named the new Managing Director and CEO of Crompton Greaves Consumer Electricals. Ghosh, who has been a member of the company’s board since 2016, will assume his new role on May 1, 2023, and his term will run until April 30, 2028. Prior to this appointment, Ghosh spent t
CEO Humphries was dismissed without cause, says Cognizant
As per a regulatory filing, former CEO of Cognizant, Brian Humphries, was terminated without cause from his position, making him eligible for severance pay. His termination became effective on January 12, and he continued to serve as a special advisor until March 15. The company’s chairman, St
Mayank Holani, CFO Schneider Electric resigned
Mayank Holani, the CFO of Schneider Infrastructure has resigned from his position to pursue other opportunities outside the organisation effective from July 19, 2023. Holani is an accomplished and result-driven professional with over 20 years of experience in areas such as Accounts and Finance, Audi
