Institutional EYE

Commentary on Corporate Governance Issues

January 30, 2019

Earlier today ICICI Bank issued a statement on findings in the enquiry report of Justice (Retd.) B.N. Srikrishna (Srikrishna Report).

The conclusions of the report were definitive – Ms. Chanda Kocchar had violated ICICI Bank’s conflict of interest policy and failed in h...

January 24, 2019

The current battle between Kotak Mahindra Bank and the Reserve Bank of India with respect to Uday Kotak’s ownership levels have raised many questions. Both sides have an opposing yet a seemingly legitimate point of view. While the issue awaits a court directive, we ask...

January 23, 2019

Sun Pharma has streamlined its operations over the past few years and appears to have addressed the immediate issues that plague investors too. But it remains silent on how it proposes to correct some of its corporate governance practices. The environment today is far...

January 21, 2019

SEBI’s rejection of Larsen & Toubro Limited’s (L&T) buyback raises questions on whether financial metrics should be considered at a consolidated level or at a standalone level. This refusal brings to the forefront the concern that much gets hidden in subsidiaries.

S...

January 8, 2019

Every once in a way an idea takes hold which is supposed to be the panacea for a specific problem plaguing the local equity markets. Share buy-backs were seen to be the perfect tonic for reviving anaemic secondary markets in the late 90’s: but markets began their secul...

January 2, 2019

The whistle-blower allegations have raised governance concerns at Sun Pharma. Given its current structure, and the new SEBI-accepted Kotak Committee recommendations, the company will be required to make changes to its processes and its board. Investors are better place...

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