Indian Promoters

Promoter share pledge rises to 1.61% in October-December quarter

Promoters in 87 companies in the BSE 500 Index had at least some portion of their holdings pledged at the end of Q3FY23. Of this, only 17 had more than 25 per cent of their promoter holdings pledged

Ex-promoters can't hold stake in insolvent firms acquired by others: SC

Court agrees with tribunal orders in Bhushan Steel's acquisition by Tata group firm

No plans to exit business, clarify Metropolis Healthcare promoters

Metropolis Healthcare is continuously exploring various strategic options and investment

Dividends, share buybacks lift India's top promoters' income in FY22

The country's top 50 promoter families earned Rs 709.4 crore on average from their companies in FY22, while the median income of these promoters was Rs 123.2 crore in the last fiscal

Burman family may become the sole promoter of Eveready Industries

The Burmans - who have been buying into Eveready since 2019 and became the largest shareholder in July 2020 - have made it clear that their offer is for control

India's new billionaires: A record 40 promoters entered the club in 2021

A record 40 promoters entered the club in 2021, beating the previous high of 24 in FY10

Personal guarantors may be part of cross-border insolvency framework

The cross-border insolvency framework is yet to be notified under the Insolvency and Bankruptcy Code

Companies need more neeti, less niyam

The key lies in training and aligning directors about the behavioural aspects of governance, not only about the laws

Banks invoke Rs 34K-crore personal guarantees in 200 cases so far

Action against 56 accounts in June quarter of FY22

Sebi cuts lock-in period for promoters to 18 months post-IPO

Markets regulator Sebi has reduced the minimum lock-in period for promoters' investment post an initial public offering (IPO) to 18 months from three years, under certain conditions. The move comes at a time when many companies are looking to list on the stock exchanges. In addition, the Securities and Exchange Board of India (Sebi) has streamlined disclosures requirements of group companies. In a notification, Sebi said that if the object of the issue involves offer-for-sale or financing other than for capital expenditure for a project, then the minimum promoters' contribution of 20 per cent would be locked-in for 18 months from the date of allotment in the IPO. Currently, the lock-in period is three years. Capital expenditure includes civil work, miscellaneous fixed assets, purchase of land, building and plant and machinery, among others. Further, the lock-in period for the promoter shareholding in excess of the minimum 20 per cent has also been reduced from the existing one ye

Indian promoters likely to give personal guarantee on foreign assets

RBI proposal a departure from current norms under Fema

Best of BS Opinion: Hope fades for PSBs, a future without promoters & more

Here are the best of Business Standard's opinion pieces for Wednesday

A future without promoters

India's corporate landscape is changing, and the economy is set to change with it, notes Amit Tandon

Banks explore the option of invoking personal guarantee of promotion

Armed with Supreme Court order, banks may invoke personal guarantees of tycoons ranging from Venugopal Dhoot to Kapil Wadhawan to recover unpaid loans from their delinquent firms, sources said Monday.

Promoters of over 500 listed firms lose monopoly over independent directors

Voting threshold in favour of appointments will now be 75 per cent, according to Sebi norms.

Promoters of Macrotech Developers repay debt of Rs 1,596 cr owed to company

The promoters have raised these funds by means of a long-term instrument having tenure greater than three years with no repayment obligation prior to that

Tech promoters top list of cash recipients; family-owned groups earn less

Reliance Industries' Mukesh Ambani is fourth on the list in terms of income earned (dividend) from his company in 2020-21 (FY21)

Mauritius, Cayman Islands funds under watch for ownership info gaps

There are concerns that a number of such funds could have a high non-resident Indian (NRI) holding and be used by Indian promoters for round-tripping and manipulating share prices

No backdoor entry

Promoters should not be allowed to delay insolvency resolution

Best of BS Opinion: Accounting gains, games promoters play & more

Here are the best of Business Standard's opinion pieces for Friday