Page 2 - Indian Promoters

'Promoter' vs 'person in control': How will Sebi's new proposal play out?

The rationale behind replacing the concept of "promoter" with "person in control" is to absolve entities, which, in real­ity, don't have any control over a company

Promoter pledging drops in Q1 even as stocks in broader market extend gains

Value of promoter pledged holdings stood at Rs 1.6 trillion

Mirages in corporate governance

The issue of separation of powers between corporate owners and professional managements has become a hardy perennial in the Indian corporate governance discourse

Indian promoters take back seat, prefer non-exec roles as scrutiny rises

Top firms asking professionals to run daily operations; experts say increased regulatory and shareholder scrutiny is making promoters give up their positions

SC right to protect IBC

Back door for promoters to retain control closed

Sebi plans change in norms to trim promoters' sway on independent directors

Its proposed 'dual approval' system gives more powers to minority shareholders, without whose majority consent it will not be possible for companies to appoint or remove IDs

Sannareddy's share holdings in Megasoft reclassified under public category

Ravindra Sannareddy promoted Megasoft in 1999 and has been instrumental in the growth of the Company, to opt out of Promoter category.

Why some don't deserve a second chance

Last week, Videocon's Venugopal Dhoot and DHFL's Kapil Wadhawan offered to pay to pull their firms out of insolvency process

IBC rule on personal guarantees no help to promoters blaming managers

Payment of bank loans by a company is an obligation under the contract law and fraud by professionals is a criminal matter, says government official.

Promoter pledging hits three-year high in August at 1.86% of market cap

Value of pledged shares soared 56% to Rs 2.77 trillion in August from Rs 1.78 trillion at the end of July

SC decision on Anil Ambani guarantee to decide fate of other promoters

Banks plan to invoke personal guarantees in 40 cases

Promoters of loan defaulting companies to soon face crackdown by lenders

With apex court's backing, banks to speed up enforcing personal guarantees

Promoters tightened grip with stake hikes in 500 firms during March panic

Expets say they may have seen sharp correction caused by Covid-19 as an opportunity to consolidate holdings and send a signal to the market on their companies' intrinsic value even as stock prices cra

Sebi relaxes 25% minimum public shareholding norms, deadline postponed

Experts said Sebi's relaxation would also benefit companies where promoter holding had increased beyond 75 per cent because of open offers or other acquisitions.

Promoter pledging hit a six-month high on sustained decline in markets

More than Rs 15,300 crore of fresh pledges created in March as falling stocks prices force promoters to offer additional shares of their firms

Defaulting promoters may get lifeline, lenders may defer pledged share sale

However, this isn't a blanket policy and will be implemented on a case-by-case basis; accounts granted relief will undergo supervisory review

Companies likely to change dividend tax policy after Budget changes

Analysis of S&P BSE 500 companies suggests that promoters of Indian private-sector companies in particular could end up paying at least 20 per cent more as additional tax on the same dividend income

Common man bears the cost of wilful default as promoters destroy wealth

Opacity and lack of regulatory compliance is high among such promoters

Year of reality check

From promoters losing their firms to consumers realising there are no free lunches, 2019 was a year of getting real

Swinging fortunes: Rich list shrinks, but top 10 add $40 billion to wealth

Richest 10 account for 41% of promoter wealth, up from 33% in December 2018