Government launches independent directors’ databank

NEW DELHI: In a significant move, the government on Monday launched a databank of independent directors which will be a “comprehensive repository” of existing as well as those eligible to be independent directors. Set up under the Companies Act, 2013, independent directors are required to register themselves with the databank within three months from December … Read more Government launches independent directors’ databank

Government to open up national procurement portal to private companies for bulk buying

NEW DELHI: The government plans to open up the national online procurement portal Government e-Marketplace (GeM) to government contractors and private entities but only for bulk buying. Officials said the government plans to expand the mandate of the GeM to include these two categories. Currently, GeM allows only government departments and public sector units to … Read more Government to open up national procurement portal to private companies for bulk buying

In a first, Anil Ambani threatened with class action suit at AGM

MUMBAI: Massive erosion of wealth due to poor performance leading to frequent rating downgrades has forced irate shareholders of the Anil Ambani Group companies to complain against the management and threaten to file class action suit. Speaking at the AGM of Reliance Power here on Monday, a shareholder even threatened to make history by filing … Read more In a first, Anil Ambani threatened with class action suit at AGM

Report on CSR violation being fast-tracked

New Delhi: The government has fast tracked the implementation of a high-level committee’s report on corporate social responsibility that suggested that violations be treated as civil offences liable to monetary penalties. “Implementation of this report is on fast track,” a government official told ET, adding that the Centre would soon take the necessary steps. Finance … Read more Report on CSR violation being fast-tracked

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