Nasscom chairman Krishnakumar Natarajan today said iGATE board has taken a right decision to sack its President and CEO Phaneesh Murthy over alleged sexual harassment, emphasising that a "quick and decisive" action in such incidents augurs well for the IT industry.
Outsourcing company iGate Corp said it had sacked its chief executive Phaneesh Murthy for not disclosing a relationship with a subordinate after investigating one of India's best-known IT executives for sexual harassment.
Phaneesh Murthy, who became one of the youngest Infosys officials to head the company's key operations in north America, fell from grace after being sacked as the CEO of Nasdaq-listed iGate Corporation following an inquiry into a controversy surrounding his relationship with a subordinate employee.
In the first-of-its-kind arrangement, Essar Energy Plc, controlled by billionaire brothers Shashi and Ravi Ruia, and its refining subsidiary — Essar Oil — will on Tuesday enter into a memorandum of understanding (MoU) with China Development Bank (CDB) and PetroChina.
In a change of stance, the government is considering a proposal to allow companies applying for foreign direct investment (FDI) in multi-brand retail to enter the e-retailing segment as well. Mahua Venkatesh reports.
Standard Chartered India today said it has agreed to acquire the private wealth management business of Morgan Stanley India for an undisclosed amount, subject to regulatory approvals.
Infosys Ltd, India's No 2 software services exporter, said today it would challenge a
Rs. 5.77 billion ($105.3 million) income tax demand raised by the sgoverment earlier this month.
Indian cricket is finding itself in a tight spot right now but its position as the Number 1 sport in India is not under any threat. While other sports are becoming popular with some advertisers, no brand manager can afford to look away from cricketers.
Himani Chandna Gurtoo reports.
Hit wicket, but far from out
Indian-American tech tycoon Vivek Ranadive has become the majority stakeholder in the NBA’s Sacramento Kings and will keep the team in the California capital.
Tata Motors today said it has raised 350 million Singapore dollars (about
Rs. 1,525 crore) through issue of securities in Singapore, mainly for redemption of preference shares.
Diversified business conglomerate ITC today posted a 19.4% year-on-year rise in its net profit for three months from January till March 2013 to R1,927.98 crore, from Rs. 1,614.36 crore during the same period last year, driven by robust performance in cigarettes, FMCG and agriculture businesses.
Hyderabad-based technical publishing and events firm OMICS Publishing Group has moved to sue a Colorado University faculty member seeking damages worth $1 billion (Rs 5,400 crore) after his blog posts questioned the credentials of its scientific publications.
Yahoo! has begun talks with the popular blogging platform Tumblr about an acquisition or strategic alliance, the technology website AllThingsD reported today.