Free Press Journal
  • ‘Nilekani must stay at Infosys for 3 years’

    New Delhi : Infosys ex-CFO V Balakrishnan has said new Chairman Nandan Nilekani should continue his stint for 2-3 years to chart out a proper succession plan and ensure that efforts of the company to be professionally-managed do not “fail again”. Balakrishnan, who has been one of the most vocal critics flagging alleged erosion in corporate governance standards at Infosys, also stuck to his demand that co-chair-turned- independent director Ravi Venkatesan step

  • Middle East giant in talks to buy Sahara’s US hotels

    New Delhi : Embattled Sahara group is in talks with a large Middle-Eastern enterprise for sale of its majority stake in two prime New York hotels — including the iconic Plaza which was once owned by Donald Trump — estimated to command a billion-dollar valuation. Sahara holds 85 per cent in New York’s Dream Downtown hotel and 70 per cent in the Plaza, where Trump — then a real estate tycoon and

  • India facing problem of severe under-employment, says Niti

    New Delhi : Making a case for promoting highly productive and well paid jobs, Niti Aayog has said that not unemployment but a “severe under-employment” is the main problem facing the country. The government think-tank in its three-year action plan, released last week, has said that a focus on the domestic market through an import-substitution strategy would give rise to a group of relatively small firms behind a high wall of protection.

  • Retrospective applicability of Income Tax amendments

    An amendment to the law is essentially a change or modification in the way things are being carried out currently. By definition, such changes should be prospective in nature. However, in the past we have seen that law makers have been indulging in the practice of effecting amendments that are retrospectively applicable.