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SEBI Proposes Stricter Governance Norms for Listed Firms, Seeks Public Feedback

The Securities and Exchange Board of India (SEBI) has issued a consultation paper seeking public feedback on proposed regulatory changes aimed at strengthening corporate governance in listed companies. The proposals focus on enhancing compliance requirements, tightening auditor eligibility norms, improving disclosure practices, and setting clearer rules for related party transactions (RPTs). The move is expected to improve transparency, reduce financial risks, and increase investor confidence in the market. SEBI has invited stakeholders to submit their feedback by February 28, 2025. Key Proposals and Their Impact: Strengthened Compliance Reporting: SEBI has proposed refining the Annual Secretarial Compliance Report (ASCR) to ensure clearer confirmations of compliance with securities laws. The proposal includes making ASCR a mandatory part of the annual report and streamlining exemptions related to corporate governance certifications and secretarial auditor reports. These changes aim to enhance accountability and ensure companies adhere strictly to regulatory guidelines. Tighter Auditor Eligibility Rules: To improve financial oversight, SEBI has recommended introducing eligibility criteria for appointing statutory auditors in accordance with the Companies (Audit and Auditors) Rules, 2014. The new criteria will ensure that auditors’ qualifications and experience align with the size, operations, and complexity of listed entities. Additionally, SEBI has proposed that companies disclose key details about the appointment or reappointment of statutory and secretarial auditors to the audit committee, board of directors, and shareholders. A standardized disclosure format is also being considered to further improve transparency. This is expected to enhance trust in financial reporting and strengthen enforcement mechanisms. Stricter Rules for Related Party Transactions (RPTs): SEBI has suggested introducing monetary thresholds for RPT approvals to ensure better scrutiny of transactions conducted by subsidiaries of listed companies. Under the new guidelines: For subsidiaries with an established financial history, the approval threshold will be the lower of 10% of turnover or a monetary limit—₹1,000 crore for main-board listed firms and ₹50 crore for SME-listed subsidiaries. For subsidiaries without a financial track record, the threshold will be 10% of standalone net worth, certified by a chartered accountant, or the prescribed monetary limits. In cases where subsidiaries have a negative net worth, share capital plus securities premium may be considered instead of 10% of net worth. These changes aim to bring consistency in financial disclosures and prevent possible misuse of related party transactions for financial manipulation. Why These Reforms Matter: With these proposed amendments, SEBI aims to enhance corporate accountability, protect investor interests, and create a more transparent and well-regulated financial ecosystem. The tightening of audit regulations will help mitigate financial risks, while clearer RPT rules will prevent conflicts of interest. As corporate governance standards evolve, these measures are expected to improve the overall trust in India’s financial markets. Investors, companies, and financial professionals are encouraged to review the proposals and provide their feedback before the deadline. Source: CNBCTV

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Companies News Today Highlights – February 10, 2025: Nykaa to Strengthen Beauty Business for Growth

admin / Human Resource Community

Stay updated with the latest corporate developments shaping industries and markets globally. Today’s key highlights include Nykaa’s strategic focus on expanding its beauty segment to enhance customer acquisition. The company plans to continue investing in its core beauty business to drive growth and strengthen its market position. This section provides in-depth insights into financial performances, mergers, acquisitions, and leadership changes impacting businesses across various sectors. Whether you’re an investor, business professional, or market enthusiast, our coverage brings you critical updates to help navigate the evolving economic landscape. From emerging startups to established market leaders, we deliver news that matters—helping you stay ahead in an ever-changing corporate world. Source: Business Standard

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India Approves Marker Vaccine for Lumpy Skin Disease in Cattle and Buffaloes

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New Delhi, February 11: In a major breakthrough for animal health, India’s drug regulatory authority has approved a vaccine for cattle and buffaloes against lumpy skin disease (LSD), a viral infection that has severely impacted livestock farmers. The newly approved vaccine, Biolumpivaxin, developed by Biovet in collaboration with the Indian Council of Agricultural Research (ICAR), features a unique marker that differentiates infected animals from vaccinated ones. The Central Drugs Standard Control Organisation granted approval for the vaccine, which is expected to play a crucial role in curbing the spread of LSD and minimizing economic losses. The disease, which spreads through insect bites, has led to over 200,000 cattle deaths in India since 2022, causing a significant decline in milk production. “This DIVA marker vaccine could be a game-changer in veterinary medicine for disease surveillance, outbreak control, and eradication efforts,” said Krishna Ella, founder of Biovet. The Differentiating Infected from Vaccinated Animals (DIVA) technology allows rapid identification of unvaccinated animals, enabling targeted immunization efforts. With the risk of fresh LSD outbreaks expected in 2025, particularly post-monsoon, experts highlight the urgent need for widespread vaccination. Scientists warn that natural immunity from the 2022 outbreak has likely waned, making cattle populations vulnerable again. Biovet’s facility in Mallur, Karnataka, has the capacity to produce 500 million doses annually. While the vaccine is ready for commercial rollout, production timelines will depend on government procurement plans. The approval of Biolumpivaxin marks a significant step in disease control efforts, ensuring better livestock health and protecting the dairy industry from future outbreaks. Source: Telegraph

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NAAC Scraps Physical Inspections to Curb Corruption, Moves to Virtual Accreditation

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In a landmark decision aimed at eliminating corruption and improving transparency, the National Assessment and Accreditation Council (NAAC) has announced an immediate suspension of physical inspections for colleges. Moving forward, all accreditation evaluations will be conducted online, replacing on-campus visits with virtual assessments. For universities, however, the transition will be hybrid—most inspections will occur remotely, but select reviewers will still visit campuses to ensure a level of direct oversight. The decision comes in the wake of the recent Central Bureau of Investigation (CBI) probe into the Andhra Pradesh-based Koneru Lakshmaiah Education Foundation (KLEF), where officials allegedly bribed NAAC inspectors to secure favorable ratings. In response, NAAC executive committee chairman Prof. Anil Sahasrabudhe stated, “We are committed to rooting out corruption. Cancelling physical visits will address this issue significantly, as every evaluation will now be recorded.” NAAC director Ganesan Kannabiran described the move as a “surgical strike against graft.” He emphasized that as a quality assurance agency, NAAC is determined to uphold the integrity of the higher education system by preventing manipulative practices. Meanwhile, the much-anticipated basic (binary) accreditation model—originally scheduled for launch in July 2024—has been postponed to April-May 2025. The updated timeline will also introduce maturity-based graded levels (MBGL), a framework designed to encourage institutions to elevate their academic and research capabilities. With around 650 institutions currently in the accreditation queue, nearly 50% of them undergoing a second cycle will have the option to retain their existing grades until the new system is in place. First-time applicants, however, may choose the upcoming basic accreditation model. “Integrating these new frameworks with advanced IT-based assessments will enhance objectivity while eradicating unfair practices,” Sahasrabudhe affirmed. Source: TOI

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BJP Secures Victory in 2025 Delhi Assembly Elections, AAP Falls to Second Place

admin / Governance Community

The Bharatiya Janata Party (BJP) has emerged victorious in the 2025 Delhi Assembly elections, securing 48 out of 70 seats, while the Aam Aadmi Party (AAP) managed to win 22 constituencies. The Indian National Congress (INC), once a dominant force, failed to win a single seat, signaling a significant shift in the capital’s political landscape. Voting took place in a single phase on February 5, with a high voter turnout reflecting intense political engagement. The elections saw a fierce battle between BJP, AAP, and Congress, with BJP staging a strong comeback after years in opposition. AAP suffered a major setback, particularly with Chief Minister Arvind Kejriwal losing his seat in the New Delhi constituency to BJP’s Parvesh Verma. The BJP’s victory is expected to bring substantial changes in governance, with potential policy shifts in infrastructure, education, and public welfare. Meanwhile, AAP is set to play a crucial role as the opposition, holding the new government accountable. With the Congress completely absent from the assembly, the party faces an urgent need for introspection and strategy realignment. The newly elected government now faces the challenge of delivering on its promises while maintaining public trust. Source: Business Standard

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Pentagon Revamps Press Corps Workspace, Favoring Pro-Trump Outlets

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The Pentagon has announced a controversial “annual media rotation program”, set to take effect on February 14, that will replace major mainstream outlets with smaller, pro-Trump media organizations in the Pentagon press corps workspace. Key Changes: NBC News → One America News Network (OANN) (TV) National Public Radio (NPR) → Breitbart (Radio) The New York Times → New York Post (Print) Politico → HuffPost (Online) While the move aligns with the Trump administration’s push to disrupt media norms, it has sparked backlash from journalists and press freedom advocates. NBC News expressed “disappointment”, while the National Press Club raised concerns over “press restrictions and transparency.” Critics argue that Breitbart lacks a significant radio presence, and One America News, which has faced lawsuits over false election claims, does not even subscribe to Nielsen ratings. Despite losing their office space, the displaced outlets will retain full press access to Pentagon briefings and travel opportunities. However, press members fear that removing workspaces could limit in-depth coverage of Defense Secretary Pete Hegseth’s tenure. Reaction & Impact: Kevin Baron, a former Pentagon Press Association VP, called it “the erasure of journalism at the Pentagon.” The National Press Club is demanding greater transparency on the selection process. Some view this as an attempt to sideline critical journalism while promoting pro-Trump media voices. The decision is already facing pushback, and further challenges from media organizations are expected. Source: CNN

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Donald Trump Alleges USAID Corruption, Claims Billions Stolen for Media Payoffs

admin / Media Entertainment & Art Community

Former U.S. President Donald Trump has made an explosive claim that billions of dollars have been stolen from USAID and funneled to news media outlets as a “payoff” for favorable coverage of Democrats. Posting on Truth Social, Trump singled out Politico, alleging it received $8 million and questioning whether other major outlets, including The New York Times, were also beneficiaries. Politico’s leadership swiftly denied the accusation in a memo to staff, stating that the publication has “never been a beneficiary of government programs or subsidies—not one cent, ever, in 18 years.” The controversy arises amid Trump’s sweeping government overhaul, which has included a 90-day freeze on foreign aid, mass furloughs at USAID, and a shutdown of thousands of global programs. Federal worker unions have raised concerns over widespread layoffs, with at least 20,000 employees reportedly accepting a buyout offer from the administration. Adding to the upheaval, Trump has appointed Elon Musk to spearhead the restructuring of federal agencies, triggering protests and uncertainty in Washington.

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Gaza’s Governance Uncertain as Four Competing Models Take Shape

admin / Governance Community

As a fragile cease-fire holds in Gaza, four competing models for the territory’s governance are emerging, with no clear direction yet established: Hamas Control – Despite suffering significant losses, Hamas still holds power over much of Gaza and seeks to maintain its authority. Israeli Military Presence – Right-wing Israeli leaders advocate for continued military control, possibly expanding their occupation if necessary. International Oversight – Foreign security contractors, invited by Israel, are already managing a key checkpoint in northern Gaza. Some officials suggest this could evolve into broader international stewardship, potentially involving Arab states. Palestinian Authority Administration – The Palestinian Authority (PA), which lost Gaza to Hamas in 2007, has begun staffing the Egypt-Gaza border alongside European security officials, hoping to extend its role across the entire territory. The future of Gaza’s governance will likely hinge on U.S. policy, with Donald Trump set to discuss the issue with Israeli Prime Minister Benjamin Netanyahu in Washington. Saudi Arabia could also play a decisive role if it agrees to normalize relations with Israel in exchange for a specific governance structure in Gaza. Source: Business Standard

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Budget 2025-26 Tightens M&A Loss Carry-Forward, Promises Faster Mergers

admin / Human Resource Community

The Union Budget 2025-26 has introduced a significant change in the treatment of carry-forward losses in mergers and acquisitions (M&As), restricting them to the residual period from the date of loss rather than the merger date. Effective from April 1, 2025, this move aims to prevent the evergreen extension of losses and aligns M&A taxation with demerger regulations. Experts believe this will make mergers less attractive, particularly for insolvency and bankruptcy cases where loss utilization is a key factor in valuation. “This restriction limits the benefit acquirers can derive from losses, potentially impacting the auction value of distressed assets,” said Amrish Shah, Partner, Deloitte India. Abhishek Mundada, Partner at Dhruva Advisors, explained that the losses will be restricted to the eight-year period from when they were first computed for the original entity, preventing perpetual rollovers. Despite this curtailment, Finance Minister Nirmala Sitharaman has promised reforms to streamline merger procedures, reducing bureaucratic delays that currently stretch timelines to over a year for listed companies. The National Company Law Tribunal (NCLT) process has been identified as a major bottleneck, and the Budget hints at easing these restrictions, though specific details are awaited. Industry leaders welcome the proposed changes to fast-track mergers, particularly for small companies and intra-group restructuring. “Relaxations in fast-track provisions will significantly reduce compliance burdens and processing time,” said Anish Shah, Partner, BDO India. While tax experts are closely watching the impact of these reforms, reducing merger timelines is expected to facilitate corporate restructuring and encourage foreign investment. Source: Business Standard

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Tobacco: The Leading Preventable Cause of Cancer in India, Say Experts

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Tobacco consumption remains the single largest preventable cause of cancer in India, accounting for nearly 40% of all cases, according to leading oncologists and health experts. With cancer continuing to claim millions of lives, doctors emphasize that preventive measures, lifestyle changes, and policy interventions are crucial to curb the disease’s growing burden. Alarming Cancer Risk in India Dr. Anil D’Cruz, a renowned oncologist, highlighted that one in five men and one in eight women in India are at risk of developing cancer due to changing lifestyles, environmental degradation, and a lack of awareness. However, he stressed that cancer is largely preventable if individuals take proactive steps, such as quitting tobacco and alcohol, maintaining a balanced diet, and undergoing regular health check-ups. Tobacco use—whether in the form of smoking or chewing—has been identified as the primary contributor to cancer cases in India. Dr. D’Cruz urged the government to introduce immediate policy measures to curb tobacco consumption and encouraged individuals to quit smoking and chewing tobacco to reduce their risk. The Role of Diet in Cancer Prevention Beyond tobacco, alcohol consumption is another significant carcinogen. Dr. D’Cruz warned against the misconception that moderate drinking is safe, stating that any amount of alcohol increases cancer risk. He also emphasized the importance of a diet rich in vitamins A, C, and E, as well as fiber from fruits and vegetables, which can help strengthen immunity and reduce cancer susceptibility. Dr. Subhash Palekar, an advocate of zero-budget natural farming, pointed out that the rise in processed and chemically treated foods has led to an increase in acidic food consumption, which fuels cancer and other chronic diseases. He called for a return to traditional Indian diets rich in millets, pulses, and fresh vegetables to improve public health. Environmental Factors and Cancer Risk Experts also linked rising cancer cases to environmental pollution and urbanization. Dr. Rajendra Singh, a Ramon Magsaysay Award-winning water conservationist, stated that industrial waste and pollution have contaminated natural water sources, leading to a surge in cancer cases, particularly in cities like Mumbai. He warned that deteriorating environmental conditions and poor air and water quality are directly impacting public health, contributing to the increasing incidence of cancer and other serious illnesses. A Call for Proactive Prevention Psychiatrist Dr. Harish Shetty proposed renaming February 4 as ‘World Cancer-Free Day’ instead of World Cancer Day, advocating for a shift from treatment-focused efforts to prevention-based initiatives. He emphasized that every Indian must take responsibility for their health by making informed choices regarding lifestyle, diet, and environmental conservation. Prevention, he argued, is the most effective way to reduce the burden of cancer and ensure a healthier future for coming generations. With India witnessing a steady rise in cancer cases, experts urge greater public awareness, stronger policy interventions, and collective action to combat the disease’s growing impact.

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