CORPORATE INDIA
Chinese involvement in Hindenburg report? Senior lawyer Jethmalani's claim turns Adani saga into a spy thriller
Adani Hindenburg row: Senior lawyer Mahesh Jethmalani has alleged that a businessman with ties to China commissioned a report by Hindenburg Research, resulting in a significant decline in Adani Group shares in January 2023. Jethmalani claimed that Chinese spy Anla Cheng and her husband Mark Kingdon hired Hindenburg and used Kotak Mahindra Investments Limited to establish a trading account for short-selling Adani shares. This move, according to Jethmalani, led to substantial profits for them while causing financial harm to numerous Indian retail investors.
India Inc registers 501 deals valued at USD 21.4 bn in Q2 2024: Grant Thornton
Grant Thornton Bharat's Q2 2024 report shows 501 deals worth USD 21.4 billion. Despite a 28% value decrease post Reliance-Disney mega-merger, domestic investment and private equity remain strong. High-value deals (over USD 100 million) rose 58% with 30 significant deals. Political stability and policy clarity boosted traditional sectors like pharma and manufacturing, states Shanthi Vijetha.
Marriott ties up with Whiteland corporation for first branded residences project
The Gurugram property, with an investment of more than Rs 5,600 crore, will be developed in phases with local developer Whiteland Corporation and will encompass an area of 6 million square feet, Trinh Quynh Phuong, vice president of mixed-use development for Asia Pacific at Marriott International, told ET.
Regulatory pressure, push from leadership lead to better compliance standards in India Inc: EY report
A new report from EY shows India Inc.'s improved adherence to compliance and integrity standards, driven by regulatory pressure and management focus. The survey highlights key factors like policy developments, leadership role, and customer demand for ethical standards.
Number of women in top roles rises slower than number of women in company boards
A paper by NCAER economists Ratna Sahay, Navya Srivastava, and Mahima Vasishth has documented these findings while highlighting the progress and shortcomings in gender diversity since the April 2015 mandate, the report said. This paper will be presented at the India Policy Forum.
MNCs in India fret as US yet to ratify global tax deal
Tax experts say the international tax treaty, which Republicans strongly oppose and requires a two-thirds majority in the US Senate to pass, faces significant challenges. Without US ratification, meeting the OECD tax deal's implementation conditions to reshape the global tax system becomes extremely difficult. The international tax treaty's implementation needs acceptance by 30 jurisdictions and the inclusion of the headquarters jurisdictions of at least 60% of the most profitable multinationals; given that many of these businesses are located in the United States, US participation is critical to attaining this level.
Tata Group is India’s most valuable brand: Report
Tata Group has maintained its position as India’s most valuable brand with a brand value of $28.6 billion, according to the latest Brand Finance India 100 2024 report. The group's Taj hotel brand also secured the top spot as India’s strongest brand. Infosys follows as the second-most valuable brand with a brand value of $14.2 billion, showing a steady 9% growth. HDFC Group surged to the third spot with a brand value of $10.4 billion following its merger with HDFC Ltd.
Essel Group company Shirpur Gold admitted for insolvency
To secure a ₹65-crore loan, SGRL had given an undertaking to Industrial Finance Corporation of India (IFCI) that it would maintain its own excess shares besides those of Zee Media, Zee Entertainment (both promoted by Essel Group) and Dish TV India (which is under Chandra's younger brother) to the extent of ₹32.50 crore. The outstanding dues include a principal amount of ₹65 crore along with accumulated interest of ₹27 crore up to October 14, 2021.
Indian corporates are likely to go slow on overseas dollar loans: BofA
Indian corporates are likely to reduce overseas dollar loans due to expensive current rates. There is a 'huge pent-up demand' for investing in local firms' equity. Borrowing costs in the US have increased sharply, leading to a preference for IPOs and follow-ons in India.
While stepping down, very few independent directors speak up
Till date this year, out of 180 independent directors who resigned from corporate boards citing "personal reasons", only four have mentioned issues such as corporate governance or lack of transparency for doing so. In recent weeks, though, Nisaba Godrej stepped down as independent director on the board of VIP Industries citing accountability issues while Marc Desaedeleer resigned from Suzlon board citing "transparency" issues.
India's top 100 listed companies must verify market rumours in 24 hours
Starting June 1, the top 100 listed companies must confirm or deny market rumors in mainstream media within 24 hours. The rule aims to prevent information leaks affecting stock valuation, enhancing market fairness. Sebi's new framework excludes price volatility for corporate actions, ensuring a level playing field for all investors. This initiative strengthens the market's integrity, making it more attractive to global investors.
Capital needs to remain high for Indian corporates: Moody's
Moody's Ratings reported on Thursday that Indian corporates face high capital requirements for capacity expansion and growth spending. 16 out of 23 rated companies are estimated to need USD 70-100 billion annually over the next two years. While domestic liquidity can cover some needs, offshore funding remains crucial. Strong consumption growth, infrastructure spending, and government targets will continue to drive corporate capital needs.
Public affairs & advocacy - a career choice
Advocacy and Public Affairs have evolved significantly over the past decade, transforming into a strategic function for corporates. The landscape now includes policy analysis, stakeholder engagement, and risk management. The introduction of policies like the Pre-Legislative Consultation Policy has increased public participation in the legislative process, fostering transparency and inclusivity. Public Affairs in India is evolving to champion knowledge-based engagement and inclusive practices, with companies increasingly recognizing the importance of engaging with Public Policy professionals for business decisions.
LinkedIn India, Satya Nadella face MCA penalty: LinkedIn says reviewing fine for next step
LinkedIn is reviewing penalties imposed by the Ministry of Corporate Affairs for violating SBO norms. The Rs 27.1 lakh fines target LinkedIn India, Microsoft's CEO Satya Nadella, CEO Ryan Roslansky, and others. The order requires disclosure of significant beneficial owners, penalizing non-compliance. Appeal options are available within 60 days.
MCA fines LinkedIn India, Satya Nadella and 8 others for violation of Companies Act, 2013
In its order, reviewed by ET, the Registrar of Companies for the national capital region of Delhi and Haryana under the MCA said the company and the officials are liable for penal action for "failure to take necessary steps as per section 90-4A (of the Companies Act) to identify the SBO in relation to the company".
Writing is easy, not living: Challenges in implementing family business constitutions
Numerous families face difficulties in actualizing the principles outlined in the document into practical, everyday reality. We discuss here the key challenges encountered in implementing a family business constitution.
Strategies for effective implementation of family business constitutions
This article explores strategies for the effective implementation and bridging the divide between the aspirational ideals outlined in the constitution and the lived reality of day-to-day interactions, long-term strategies, decision-making processes, and familial aspects of harmony and togetherness.
Family Businesses should be run like trustees for the next generation: DCM Shriram Group
Addressing the session on " Purpose-driven and responsible," Ajay S Shriram, Chairman and Senior Managing Director, DCM Shriram Limited, opened up about family businesses and emphasised that the enterprise needs to balance its approach like trustees for the next generation.
Indian companies show interest in impact investing but face challenges: Deloitte CSR survey
Deloitte India's CSR preparedness survey reveals that only 28% of Indian organizations feel very prepared for impact investing, despite high interest. The study shows a shift towards CSR as a strategic driver of corporate strategy, with increased investment in technology solutions and focus on accountability.
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