A look back at some of our biggest and best stories from this week. In case you missed them, here's a recap:
Cyrus Mistry saga: The story of minority shareholders' protection
In a major victory for Cyrus Mistry in his legal battle against Tata Sons, the NCLAT reinstated him as the executive chairman of the group and ruled the appointment of N Chandrasekaran as executive chairman illegal. While Mistry termed the order "victory of principles of good governance", experts argue that he can be removed again as "you cannot take away from the shareholders the right to manage their company". N Chandrasekaran has said that he will explore the appropriate legal recourse against the order.
Cyrus Mistry's Counsel Aryama Sundaram on NCLAT ruling and the future course of action
Speaking to CNBC-TV18, Cyrus Mistry's Counsel Aryama Sundaram said a company like Tata Sons which also controls so many companies in which there is so much public money, needs to have corporate governance of an impeccable standard.
How CAA and NRC have divided opinion
The Citizenship Amendment Act, 2019, (CAA) has pretty much pushed out every other news from the news cycle. Our screens are dominated with the scenes of students being beaten up, students resisting, and slogans raised against the government across the country. At the core of the protests is the belief that this government is out to disenfranchise Muslims and other minorities and strip them of their nationality using a combination of the CAA, and the National Register of Citizens (NRC), writes Harini Calamur.
A year of transformation: These 5 trends will shape the business world in 2020
2019 shall be remembered as a milestone year, as the majority population in India learnt the true applications of a smartphone -- from video-streaming to eLearning to eConnect and ePayments. While telecom providers have enticed the ‘data-intensive’ appetite of Indians, the exponential growth in data usage and a number of connections have opened myriad business opportunities for ordinary Indians. Google and other technology companies are gearing up to be a part of this transformation.
Five years ago, SpiceJet nearly died. It now faces similar headwinds
It is déjà vu all over for the airline. There are many reasons to be worried about SpiceJet, though mercifully there have been no defaults or lease terminations or notices. While the airline has recorded over 90 percent occupancy for the last five years, media reports say that the airline is left with less than Rs 100 crore in cash for operations. Compare that to SpiceJet’s arch-rival IndiGo, the Indian market leader has over Rs 10,000 crore in cash.
Millennials' credit needs: How digitisation is paving the way and what borrowers should bear in mind
Over the last three years, India has witnessed a revolution when it comes to financing of consumer durable and personal loans which have grown in excess of 40 percent CAGR. Offering 100 percent digital loans through websites, mobile applications, Point of Sale terminals and payment gateways, fintech companies have been at the forefront of driving this surge. Complementing traditional banking propositions, fintech companies are leveraging advanced technologies such as artificial intelligence, big data analytics, and machine learning so as to provide a seamless experience when it comes to availing instant credit.
Essar Steel resolution saga: The man who led the insolvency process describes its impact, challenges
It is the single largest resolution under IBC in terms of quantum and percentage of amounts realised by creditors, largest M&A transaction of the year and largest FDI for the year having attracted FDI from ArcelorMittal, the largest steel producer in the world. Realisation from the resolution of ESIL for various creditors including banks is more than Rs 42,000 crore.
Captain Gopinath: We are all descendants of immigrants
It’s well established by anthropologists and scientists, incontrovertibly, that the first man originated in Africa. It follows then that everyone in this world is a migrant, issued forth from that single stock, from a common womb from the cradle of East Africa and dispersed in infinite varieties across the globe, writes GR Gopinath.
The Citizenship Amendment Bill (CAB) was passed by both houses of Parliament in the winter session. But the IBC Amendments Bill wasn’t. This is a clear reflection of the government’s priorities. And utterances by people seen associated with the ruling party on the non-relevance of economic terms like “GDP” don’t help in diminishing this perception, writes Sonal Sachdev.
Is politics hurting economics?