JSW Steel Ltd is the 34th most valuable company listed on our bourses. The chairman and managing director (CMD) of the company is the subject of a first information report (FIR) lodged at the Bandra Kurla Complex (BKC) police station in Mumbai, a matter widely reported in the media.
On 15 October 2023, Tata Consultancy Services Ltd (TCS) intimated to the stock exchanges about the closure of the investigation undertaken by the company, in regard to the allegations that emerged in June 2023 about a scandal in the resources management function (RMG).
An announcement on 27 November 2023 by Carborundum Universal Ltd, a constituent of the Murugappa group, most likely signals the finale to the family strife which saw two of the female members of the family seek an equal right to occupy the position of directors that the male family members are entitled to.
The tussle between the two factions of the Chhabria family, fighting for the control of Finolex Cables Ltd, is among the many family feuds that are currently on show and promises to be more entertaining than some of the competing ones!
The polling results of IndusInd Bank Ltd, announced on 5 October 2023, come as a shot in the arm for those seeking a more active role by the institutional shareholders in exercising their franchise boldly and independently and not blindly toeing the management (promoter) line.