NON COMPETES
Commerce min engaging with different departments on India, Korea FTA upgrade talks: Official
India and Korea are progressing with talks to upgrade their existing free trade agreement (FTA), known as the Comprehensive Economic Partnership Agreement (CEPA). The Department of Commerce is collaborating with various ministries such as heavy industries, steel, and chemicals to prepare the offer list for the negotiations.
China competes for influence in the South Pacific
The South Pacific, dotted with small and vulnerable island states, has become a battleground for influence between China and the traditional benefactors of Australia, New Zealand, and the USA.
Non-refundable Covid advance no longer available under EPFO
According to an EPFO circular dated June 12, since Covid is no longer a pandemic, the competent authority has decided to discontinue the said advance with immediate effect and this would be applicable to even exempted establishments.
EPF account withdrawal rule changed: EPFO discontinues Covid-19 advance facility
During the Covid-19 pandemic, a non-refundable advance was provided to the EPF members during the outbreak of first wave of Covid-19 and another advance was also allowed in view of second wave
ETMarkets Smart Talk: Stock market is hoping for a progressive, non-populist & capex focused Budget from Modi 3.0: Sameer Kaul
Ahead of major defining events, market participants steadily build positions. Now once the event crystalizes all participants move in a herd for the exit all at once which causes these gyrations and spikes in the volatility index (up 24% on the election outcome day).
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
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Germany just launched its new point-based Opportunity Card. The best part? You don't need a job offer or family sponsorship
Germany's new Opportunity Card, also known as 'Chancenkarte,' offers a one-year residence permit for non-EU candidates to search for employment without a permanent contract, attracting skilled workers with simplified entry and job search processes.
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.
Airlines, hotels, retailers fear being left out in Google's search changes
Airlines, hotels, and retailers urge EU tech regulators for fair treatment in Google's compliance with DMA regulations. Concerns raised about revenue impact as Google's response focuses on changes favoring large intermediaries and aggregators, with ongoing investigations by the Commission.
Godrej split: Tanya Dubash to lead brand mgmt of Godrej Industries, Nyrika Holkar that of Godrej Enterprises
Tanya Dubash, executive director of Godrej Industries, will oversee brand management for Godrej Industries Group (GIG), including Godrej Industries, Godrej Consumer Products, and Godrej Properties. Nyrika Holkar, also an executive director, will lead Godrej Enterprises Group (GEG), comprising Godrej & Boyce and affiliates. The formal split, signed last month, divides the conglomerate into two branches, each managing its brand independently.
Lok Sabha elections: Caste, bread & butter factors competing with temple tide in Ayodhya
Ayodhya's historic Lok Sabha election post Ram temple inauguration sees competition between caste and convenience. BJP's Lallu Singh eyes third term amidst fielding of nine-time Dalit SP MLA Awadhesh Prasad, attracting Dalit, Muslim, and Yadav voters. CPIM's Arvindsen Yadav and BSP's Sacchidanand Pandey add complexity to the race, challenging SP's prospects in the keenly contested constituency.
Bain teams up with Temasek to compete with Blackstone-led consortium for controlling stake in Haldiram's
The Bain and Temasek combination submitted a non-binding offer late last week valuing India’s largest snack and convenience foods company at $8-8.5 billion (Rs 66,400-70,500 crore), after initially engaging with the founding family of the 87-yearold brand separately, said people aware of the matter.
How family businesses need to combine intuition with data-driven processes for hiring professionals
Infusing external talent to bring fresh perspectives, specialised expertise and strategic insight is imperative to propel the business forward. However, the senior talent acquisition process is not without challenges.
Non-compete agreement: Godrej vs Godrej a no-no even in realty business
Godrej Properties, which is part of GIG, will have the right to use the brand for real estate development. GEG entity Godrej & Boyce will use the brand for any development on land parcels it owned on January 1 and it will not undertake any development outside of those holdings.
Godrej family settlement: For next 6 years, the two sides can compete in only one business
In family settlement cases, non-complete agreements are a standard practice, in India as elsewhere. For the Godrejs, the non-compete period started on April 30.
Non-compete clauses: Unenforceable under law, but companies love them
While Indian law is clear on the unenforceability of a non-compete clause operating beyond the term of employment, companies still include it in contracts, particularly for senior executives, as it’s seen as a soft deterrent, said Jay Parikh, partner at Luthra and Luthra Law Offices. Employees would rather comply than bear litigation costs and carry the burden of being sued by their previous employer.
BSP quite confident and competent this time: Akash Anand
"If you look at 2014 and 2019 data, we were hovering around 19% percent. On cutting into Opposition votes, we want to make absolutely clear that when we contest alone we maintain our vote-share but in alliance our partner cuts into our vote-share, helping BJP."
To compete with China on economic front, India must focus on manufacturing: Jaishankar
Jaishankar stresses India's shift towards manufacturing to rival China. Emphasizes technology and counter-terrorism. Highlights India's global collaborations post-COVID-19, including strengthened ties with UAE and agreements with various countries for mobility opportunities.
WFI to allow only 'genuine' wrestlers to compete at trials
The Wrestling Federation of India (WFI) announced that wrestlers from their original states can compete in the upcoming trials, with one wrestler allowed to compete in multiple categories over two days. The decision aims to ensure fairness and authenticity in selection. Wrestlers must present necessary documents to verify their state of origin.
Open book exams for a new, adaptive OS
OBE has students referring to notes, textbooks and other study materials during an exam. The assessment focuses on a student's understanding of the subject and his or her ability to analyse or apply concepts, rather than testing memory - the whys and hows, rather than the whats and whens. While National Education Policy 2020 does not mention OBE - National Curriculum Framework released last year does - one of the reforms it suggests is moving from rote to competency-based learning.
McDonald's cheese crackdown: Maharashtra to inspect global fast-food chains
Maharashtra, India, will conduct an inspection of all global fast-food chains for food regulation violations following a McDonald's crackdown. The state will check for misleading promotion of non-cheese items as cheese and will also inspect all McDonald's outlets in Maharashtra.
RBI raises ceiling on remuneration of non-executive directors to Rs 30 lakh
The Reserve Bank's instructions on review of fixed remuneration for non-executive directors (NEDs) come into force immediately. The instructions apply to all private sector banks, small finance banks, payment banks, and wholly owned subsidiaries of foreign banks.
Non compete clauses in C-Suite executive employment contracts: The dos and don'ts
Non-compete clauses aim to restrict employees from using confidential information for competitive purposes after their employment. Breaching the clause can lead to legal repercussions, damage to reputation, and financial penalties.
IT freshers beware! Non-compete clauses woven into contracts are unenforceable in India, experts say
Indian IT companies are using non-compete clauses in their contracts to deter new hires, but legal experts argue that this tactic is not enforceable in India. Non-compete agreements, ranging from six to twelve months, are a standard feature of contracts from major Indian IT companies like TCS, Infosys, Wipro, HCLTech, and Tech Mahindra.
Companies tightening contracts to make exit tough for senior executives
Indian cos are tightening employment contracts for top executives to make them more binding by incorporating stricter non-compete and non-solicitation clauses. This is in response to intense competition for senior talent and rampant poaching of C-suite brass. Contracts and policies are being made tighter to make an exit difficult, including longer notice periods and extended non-poaching contracts.
IT executive exodus: a primer on breach of contract, lawsuits
IT major Wipro has filed at least two legal complaints against its former senior executives including former senior vice president Mohd Haque and ex CFO Jatin Dalal for breach of his employment contract with Wipro. What does this mean?
Explainer: A primer on breach of contract, lawsuits
Wipro and Infosys are pursuing legal action against former executives joining Cognizant, raising questions on non-compete clauses' validity in India. While Wipro sued ex-SVP Mohd Haque and CFO Jatin Dalal, Infosys accused Cognizant of unethical hiring. Experts note the challenges enforcing non-compete clauses due to constitutional rights. Past cases lack significant precedents. The desperation to retain talent amid a sluggish market and geopolitical uncertainties might be driving these legal battles among IT giants.
Wipro seeks Rs 25 crore damages from ex-CFO Jatin Dalal for breach of non-compete rule
As part of the non-compete agreement, one of the clauses bars Dalal from joining any other rival company for a period of 12 months from the date of his resignation.
Wipro files complaint against ex-US staffer who joined Cognizant
In its complaint, Wipro said Mohd Haque, who quit Wipro in June this year, had agreed to certain restrictions on his post-employment activities, including prohibition of work for a small set of Wipro competitors including Cognizant, for 12 months after his employment ended.
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