The Reserve Bank of India (RBI) has taken a significant step toward strengthening its institutional governance by approving a comprehensive governance framework designed to enhance strategic planning, accountability, transparency, and risk oversight within the central bank. The decision was taken during a meeting of the RBI’s Central Board, reflecting the institution’s continued efforts to modernize...
Bank of Baroda has reached a significant milestone in resolving one of the most complex international banking disputes in recent years by agreeing to pay approximately ₹5,700 crore to settle legal claims related to the collapse of NMC Health in Abu Dhabi. The settlement brings closure to a long-running financial dispute that involved several international...
Shares of Kotak Mahindra Bank came under significant selling pressure on Monday, declining by more than 3% during early trading hours after the bank announced that its Managing Director and Chief Executive Officer, Ashok Vaswani, would not seek reappointment at the conclusion of his current tenure. The development sparked concerns among investors regarding the future...
One of India’s most influential business conglomerates, Tata Sons, has once again found itself at the center of a significant regulatory and corporate governance discussion. The debate revolves around whether the holding company of the Tata Group may eventually be required to launch an Initial Public Offering (IPO) and list its shares on stock exchanges...
Microsoft is facing a significant legal challenge after a group of shareholders filed a proposed class-action lawsuit accusing the technology giant of misleading investors about the health of its cloud computing business and the financial burden associated with its rapidly expanding artificial intelligence initiatives. The lawsuit, filed in a federal court in Seattle, alleges that...
A sudden shutdown of a Pune-based information technology company has left more than 700 employees without jobs, triggering uncertainty among workers and raising fresh questions about transparency, accountability, and financial management within emerging technology businesses. The company, which operated from Pune’s prominent IT hub of Hinjewadi, reportedly ceased operations without providing adequate prior notice...
The founder of Indian edtech giant BYJU’S has reportedly been sentenced to six months in prison by a Singapore court in a major legal setback that further deepens the company’s ongoing financial and governance crisis. The court’s decision came after findings related to contempt proceedings and alleged non-compliance with judicial directives, marking another significant blow...
In a high-profile legal development, Bengaluru police have registered a case of abetment to suicide against Ola Electric founder and CEO Bhavish Aggarwal and senior executive Subrath Kumar Das following the death of 38-year-old engineer K Aravind. The deceased, who worked with the company since 2022, allegedly left behind a detailed 28-page note accusing senior...
Mumbai: The Economic Offences Wing (EOW) has summoned IndusInd Bank’s former Deputy CEO, Arun Khurana, and former CFO, Govind Jain, in connection with alleged financial irregularities amounting to ₹1,960 crore. According to EOW officials, Khurana has been asked to appear on September 22, while Jain has been directed to appear on September 24. Investigators believe...
Ahmedabad: Adani Group Chairman Gautam Adani on Thursday strongly criticised the allegations made by US-based short-seller Hindenburg Research, demanding a “national apology” from those who propagated what he described as “false and baseless narratives.” His statement comes after the Securities and Exchange Board of India (SEBI) officially gave the Adani Group a clean chit in...