Topic
corporate governance
Finance HDFC Board Imposes Rs 1 Lakh Fine on MD, CFO Over Extra Payout to Maharashtra PSU
HDFC Bank's board imposed a Rs 1 lakh penalty each on MD & CEO Sashidhar Jagdishan, CFO Srinivasan Vaidyanathan, and group head Arvind Vohra for 'business overreach' in deposit deals with Maharashtra State Road Development Corporation. The board found no mala fide intent but issued warning letters, in an action seen as unprecedented and aligned with RBI's push for stronger board oversight.
Finance HDFC Bank Review Finds No Evidence to Support Former Chairman Atanu Chakraborty's Allegations
HDFC Bank announced that an independent legal review found no evidence to support former chairman Atanu Chakraborty's claims that the bank acted against his ethics and values. The review, conducted by law firms Wilson Sonsini Goodrich & Rosati and Wadia Ghandy & Co., examined board minutes, interviews, and documents over three months. The bank stated that Chakraborty did not record any concerns through official channels during his tenure.
Business Noel Tata to Step Down from Six Tata Group Company Boards in November at Age 70
Noel Tata, chairman of Tata Trusts, will step down from the boards of six Tata group companies in November when he turns 70, triggering the conglomerate's retirement age limit for non-executive directors. He will retain his seat on Tata Sons. The departure sets off boardroom changes amid internal conflict at Tata Trusts.
Technology AI’s Newest Apprentices: How Directors Are Becoming AI Strategists in Boardrooms
Corporate boardrooms are witnessing a shift as directors increasingly engage with AI strategy, moving beyond viewing it as a technology initiative. According to a report in Business Today, AI has become a standing agenda item, with leaders like Tech Mahindra's CEO Mohit Joshi and Happiest Minds' co-chairman Joseph Anantharaju noting that boards now focus on business outcomes, risk, and governance. Mphasis chairman Girish Paranjpe highlights that risk appetite, not budget, is the main constraint.
Business Ex-CEC Rajiv Kumar named HDFC chairman in clean-up drive; four-year term proposed
HDFC Bank's board appointed former chief election commissioner Rajiv Kumar as chairman, subject to RBI approval. Kumar, a former finance secretary, will serve a four-year term starting June 30. The appointment follows the sudden resignation of Atanu Chakraborty in March and an internal investigation that found no evidence of his concerns.
Logistics Genco Shareholders Routinely Re-elect Board, Defeating Diana Shipping's Board Challenge
Genco Shipping & Trading shareholders overwhelmingly re-elected all six company-backed director nominees, dealing a major setback to rival Diana Shipping's board challenge. Diana, which owns 14.4% of Genco, had sweetened its takeover offer to $27.34 per share but failed to gain board seats. The takeover saga continues as Genco reviews the latest proposal.
Business Tata Sons chairman N Chandrasekaran declines pay hike amid group concerns over capital allocation
Tata Sons chairman N. Chandrasekaran will not seek a pay hike for FY26, a decision made amid group concerns about capital allocation and profitability of new ventures. The move was conveyed during the Nomination and Remuneration Committee meeting alongside the Tata Sons board meeting. Chandrasekaran's FY25 remuneration was ₹155.8 crore, heavily performance-linked. Tata Sons' FY25 revenue rose 24% to ₹5.92 lakh crore but net profit fell 17% to ₹28,898 crore.
Business Tata-backed Small Animal Hospital Board Reconstituted After Mistry Exit Amid Trust Turmoil
The board of Tata-backed Small Animal Hospital has been reconstituted following the exit of Mehli Mistry, a close confidant of the late Ratan Tata. New directors Sanjay Ubale and Dr Sheila Mukundan have joined. The hospital, which cost Rs 165 crore to build, is losing Rs 1.5 crore monthly and operating at a fraction of its capacity. Mistry's resignation was part of a wider conflict at Tata Trusts.
Logistics Diana Shipping Scales Back Genco Campaign Ahead of Crunch Shareholder Vote
Diana Shipping has withdrawn four of its six director nominees for Genco Shipping & Trading's board election, leaving only Jens Ismar and Paul Cornell. The move comes after all three major proxy advisory firms recommended shareholders support Genco's slate. The outcome of the June 18 vote could determine the future of Diana's tender offer for Genco.
Business Genco Softens Poison Pill Stance Ahead of Diana Shipping Proxy Fight
Genco Shipping & Trading has pledged to limit its shareholder rights plan ('poison pill') and seek investor approval for future extensions, responding to Diana Shipping's renewed proxy campaign. The move comes days before the June 18 annual meeting, where shareholders will vote on board nominees and the rights plan. Diana has raised its unsolicited offer to $24.80 per share but failed to gain support from major proxy advisors.
Business Lloyd’s Register Appoints Matthias Altendorf as New Chair
Lloyd’s Register has appointed Matthias Altendorf as the new chair of its boards, effective June 2027. Altendorf brings extensive leadership experience from Endress+Hauser Group.
Business Tata Sons Chairman Reappointment Stalled Amid Strategic Concerns
Noel Tata has highlighted unresolved strategic issues, delaying the reappointment of Tata Sons Chairman Natarajan Chandrasekaran. Key concerns include the group's five-year roadmap and exit options for Shapoorji Pallonji Group.
Regulations & Compliance Mehta Challenges SEBI Order on Inflated Revenue
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Regulations & Compliance Sebi Bans Rajesh Exports' CMD for Irregularities
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Logistics GlobalX Airlines Faces Cargo Disruption Amid Shareholder Dispute
GlobalX Airlines accuses Ascent Global Logistics of breaching a cargo brokerage agreement, impacting its air freight operations. The dispute centers on Ascent's alleged preferential treatment of its subsidiary, USA Jet Airlines.
Business Nandan Nilekani: Guiding Infosys Through Leadership Transitions
Nandan Nilekani, at 71, continues to steer Infosys through critical leadership transitions. His tenure has seen the company's revenue grow from $10.9 billion to over $20 billion. As he prepares for his third term, Nilekani faces the challenge of planning for his own succession and that of CEO Salil Parekh.
Business Hub Group CFO, COO Exit Amid Financial Restatement
Hub Group's CFO and COO have resigned following a $77 million accounting error that led to financial restatements. Interim CFO Todd Heeter steps in as the company aims to rectify its financial reporting.