Kotak Mahindra Bank announced that Uday Kotak has resigned from the role of Managing Director and Chief Executive Officer of the Bank, with effect from September 1, 2023. According to the bank’s exchange filing, “Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“Listing Regulations”)…
Private banking company Kotak Mahindra Bank recently announced that the group’s leadership team has unanimously and voluntarily opted to take a 15% cut in compensation for the financial year 2020-21. The Managing Director of the bank, Uday Kotak has personally opted to forgo his salary, and will receive Re 1/- as compensation. The bank in…
Kotak Mahindra Bank has announced a commitment of Rs. 35 Cr., to support the central and state government in their fight against Covid-19. Apart from this Uday Kotak, has offered his personal commitment of Rs. 25 Cr. to the PM CARES fund. The funds will be directed at supporting the governments initiative towards preventive, curative,…
Prime Minister Narendra Modi on Monday, met top industry leaders including Mukesh Ambani, Ratan Tata, and Gautum Adani, ahead of the Union Budget 2020-21. The Union Budget which will be presented in the parliament on February 1, 2020, will be extremely crucial in sending a positive message to revive business sentiment amidst an economic slowdown.…
In view of the new SEBI rules on corporate governance, it has been observed that over 200 companies are falling short on the deadline to split the roles of Chairperson and Managing director. In 2018, the Indian regulator SEBI advised the top 500 listed companies to appoint a Non-Executive Chairperson on their board. As per…
In the wake of the new guidelines proposed by market regulator SEBI, Wipro Chairman Rishad Premji might lose his executive powers in the tech company after 1 April, as per a TOI report. In 2018, SEBI through its rules had directed the top 500 listed companies in India to ensure that their chairperson is a…
The Indian government has taken the control of the debt-ridden Infrastructure Leasing & Financial Services (IL&FS). As a start, the government filed an application with the National Company Law Tribunal (NCLT) to dismiss the current board of IL&FS. The government thought it would be detrimental to run the firm with its current directors. The petition filed was…