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Ramkrishna Forgings pays Rs 5.57 lakh to settle allegations of non-disclosure of material events

Money ControlMoney Control · 1y ago
Ramkrishna Forgings pays Rs 5.57 lakh to settle allegations of non-disclosure of material events
Medial

Ramakrishna Forgings settled allegations of non-disclosure of material events with the Securities and Exchange Board of India (SEBI) by paying Rs 5.57 lakh. The settlement order, issued on March 19, stated that the company violated certain regulations of the Listing Obligations and Disclosure Requirements (LODR) Regulations. SEBI's High Powered Advisory Committee (HPAC) reviewed and approved the settlement terms, recommending that the case be settled with the payment. The company informed SEBI about the remittance of the settlement amount on February 7. On March 20, Ramakrishna Forgings' stock closed at Rs 661.35 on the NSE, up 3.67 percent from the previous close.

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Paytm proposes to cut directors’ remuneration

EntrackrEntrackr · 1y ago
Paytm proposes to cut directors’ remuneration
Medial

Fintech firm Paytm has proposed to reduce the remuneration paid to its board of directors. The move appears to be a step towards good corporate governance. Lately, the firm drew a penalty for non-payment of stamp duty, and flak from SEBI for certain transactions with its banking unit. The firm’s independent directors will take a haircut in their annual remuneration, according to Paytm’s parent One97 Communication disclosure made to the Bombay Stock Exchange (BSE). The annual remuneration of independent directors at Paytm including Ashit Ranjit Lilani and Gopalasamudram Srinivasaraghavan Sundararajan stood at Rs 1.65 crore and Rs 2.07 crore, respectively. If the proposal gets approval from the board, the annual compensation of each non-executive independent director will be capped at Rs 48 lakh from April 2024, with a fixed portion of Rs 20 lakh, as per the disclosure. The variable component will be linked to attendance at the meetings and overall contribution to various roles. The new remuneration slab is based on the benchmarking done by Paytm and reflects the commitment of board members, said disclosure made to the exchange. Paytm is also seeking re-appointment of Elevation Capital’s founder Ravi Chandra Adusumalli to its board of directors. Adusumalli has been on the board of the company since it was private. His appointment is also subject to shareholder approval.

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