Stock exchanges have slapped fines on state-owned oil and gas firms including IOC, ONGC and GAIL for their failure to meet listing requirements of having a requisite number of independent directors and women directors. In separate filings, the companies detailed the fines imposed by the BSE and NSE but were quick to point out that … Read more
The government is in the process of appointment of three independent directors on the board of newly-incorporated Rs 20,000 crore National Bank for Financing Infrastructure and Development (NaBFID), a move that will clear the decks for commencing of operation of the Development Finance Institution critical for infra financing. With the appointment of three independent directors, … Read more
Non-executive directors can be paid remuneration in cases where firms have made a loss or if the profit is inadequate, according to a notification from the ministry of corporate affairs (MCA) giving effect to certain provisions of the amended Companies Act, on Thursday. Amending schedule V of the Act, the MCA also prescribed limits on … Read more