The high-voltage face-off between the founders of India’s second largest IT company, Infosys and its present governing board on issues of code of ethics, governance and transparency on financial issues have turned the spotlight on professionally managed ... The Financial Chronicle, 1 hour ago
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Retention of Murthy within the promoter group was crucial for Infosys as the company believed the promoters’ relationship would help the company in difficult times In 2014, when Infosys co-founder N R Narayana Murthy asked the board to reclassify him from promoter to public shareholder, the board persuaded him to continue as promoter, said sources involved in the discussions. According to the sources, Murthy was not comfortable being responsible as promoter for various decisions the ...Rediff.com, 3 days ago
Bourses ask for okay in the 'permitted to trade' category; brokers and legal experts speak in favour. The Securities and Exchange Board of India is considering a plea by the stock exchanges to allow trading of their own shares under the ‘permitted-to-trade’ category. If allowed, shares of BSE will trade on the BSE. Similarly, shares of the National Stock Exchange will be allowed to trade on its own platform. “Sebi and exchange officials met last week to discuss the ...Rediff.com, 1 month ago
Swiss brokerage UBS joins European banking peer HSBC in shutting down its offshore derivative business. Tighter rules and dwindling flows are taking a toll on issuers of participatory notes (P-notes) in the country, with top players heading towards the exit. According to sources, Swiss bank UBS has stopped issuing offshore derivative instruments (ODIs) or P-notes based on domestic securities from January 1. Foreign investors typically buy P-notes. UBS joins its European peer HSBC, which had ...Rediff.com, 1 month ago
The chairman’s post will soon fall vacant, but that’s not the only one that needs to be filled. As the Street steps into a new year, it faces numerous uncertainties. In such a not so benign environment, the market regulator -- which needs to be at its strongest and most watchful -- finds itself in a bit of a limbo as it prepares for a major transition. Its longstanding chairman, U K Sinha, has less than two months at the helm. That is not all. The Securities and Exchange Board of ...Rediff.com, 1 month ago
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