Family members of Murugappa Group vote against giving board seat to Valli Arunachalam

Submitted by webmaster on Tue, 09/22/2020 - 08:38

The family members of the Murugappa Group have voted overwhelmingly against the proposal to appoint Valli Arunachalam on the board of Ambadi Investments Ltd (AIL). The shareholders voted out the resolution with 91.37% of the total votes rejecting her proposed appointment, dealing a major blow to Ms Arunachalam's efforts to enter the male-dominated board, said two people aware of the development.

New AI deal may come with an old baggage

Submitted by webmaster on Tue, 09/22/2020 - 01:03

NEW DELHI: The government has decided to go ahead with the process to divest stake in Air India and is discussing proposals to further sweeten the deal for prospective bidders by allowing some relaxations along the bidding process. However, any significant reduction in debt has been ruled out, government sources told ET.Senior government officials said there are some options, including allowing interested parties to bid based on the enterprise value, being considered but a significant reduction in debt was unlikely.“There are a few options on the table (enterprise value).

RBI, government in right direction to keep economy moving: Axis Bank CEO

Submitted by webmaster on Tue, 09/22/2020 - 12:36

New Delhi: The Reserve Bank and the government are in the right direction to keep the economy moving and signs of revival in the banking industry are visible with people starting to repay their liabilities, Axis Bank MD and CEO Amitabh Chaudhry said on Tuesday."We have gone through two phases of concession being given to the borrowers with the moratoriums, now we are in the so called restructuring phase."The numbers are trending in the right direction, that means the customers do realise that they do need to pay.

SC restrains Mistry from transferring TSPL shares

Submitted by webmaster on Tue, 09/22/2020 - 08:04

NEW DELHI: The Supreme Court restrained Mistry family firms from either pledging or transferring any Tata Sons shares until October 28, when hearings resume.The Tata Group, which had objected to such share pledging or transfers, made an offer in court to buy back the 18.4% stake in Tata Sons that the Mistrys hold.

Farm bills: Opposing for posing’s sake, or is it?

Submitted by webmaster on Tue, 09/22/2020 - 14:22

Plato, in Euthydemus, complains that the philosophers known as the sophists are indifferent to what is actually true or false, but are interested only in winning arguments. In other words, they are no different from our modern political class on the current agriculture reforms, where many of them are only trying to spread bovine faeces (read: bull shit) outside farms, disregarding economic logic.

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