Two recent events in the financial sector offer many corporate governance lessons. In one case, the government and its agencies were involved and left behind questionable precedents. In another private sector institution, a former government employee is involved though the manner of his involvement raises questions. These events are juxtaposed with larger societal questions related to saving institutions and jobs and ensuring financial stability.

Three companies backed by global financiers have bagged the tenders to build 750 MW of solar power projects in Kadapa, Andhra Pradesh, with the lowest bid under the reverse auction process coming in at Rs 2.7 a unit.

While these auctions were held on Friday, earlier last week, the reverse auction for 2,000 MW capacity haf discovered tariff of Rs 2.44 per unit, which matched the lowest ever rate that was found in May 2017 for Rajasthan’s Bhadla projects.

Nine children of a family fell ill after allegedly consuming “maggi” on July 7 in Madhya Pradesh’s Chhatarpur, ANI reported today. After the condition of the children deteriorated, they were referred to Gwalior Medical College. However, the producer of “maggi,” Nestle, has issued a statement and rejected the claim. The company said it has probed into the matter and the product that the children had consumed was not of its company.

Prime Minister Narendra Modi along with South Korean President Moon Jae-in will launch world’s biggest mobile factory with the opening of Samsung plant in Noida’s Sector 81 today. This is the first ever visit of Moon Jae-in to India.

The South Korean President will be accompanied by senior members of his cabinet, officials as well as industry captains. First Lady Kim Jung-sook will also be accompanying the President.

Hinduja Group flagship company Ashok Leyland is gearing up to expand its light commercial vehicle business, international operations and defence mobility segment, according to company Chairman Dheeraj G Hinduja.

For the electric vehicle (EV) segment, Ashok Leyland is also looking to tap the proven success of its Optare bus range in the United Kingdom, for other locations as well.

Major e-commerce and retail players, including Paytm, Future Group and Flipkart, are set to invest close to $100 million in procuring and incorporating entertainment content, in a bid to take on Amazon India.

According to sources, Paytm, which recently announced a host of new features in ‘Inbox’, its in-app messaging service, including live TV, news, cricket, entertainment videos and games, is planning to invest close to $30 million in this sector.

Telecom operators have opposed public wifi model recommended by the sector regulator Trai, saying it will adversely impact debt ridden industry and compromise national security.

Based on existing rules for cyber cafes, the Telecom Regulatory Authority of India (Trai) had recommended that a new set of players to be called Pubic Data Office Aggregator (PDOA) should be allowed to resell internet services through yesteryears PCOs type of set-up that will be called Public Data Offices.

Shareholders of Reliance Industries have approved giving Mukesh Ambani another five years as the Chairman and Managing Director of the company. Ambani, 61, has been on the board of Reliance Industries Ltd (RIL) since 1977 and was elevated as Chairman of the company after the death of his father and group patriarch Dhirubhai Ambani in July 2002.

Surface Phone enthusiasts are running a petition on “Change.org” to persuade Microsoft to reverse its reported decision to cancel its unannounced dual-screen computing device, the media reported. All the fans of Windows phone want Microsoft to release the Surface Phone or “Surface Andromeda Phone Project” that has been leaking out lately with the phone screen that can turn into a tablet, the petition read.

Faced with the prospect of a glut in thermal power supplies from 2020 onwards, the Odisha government is keen to renege Power Purchase Agreements (PPAs) signed with NTPC projects which is due to start commercial operations.

Accordingly, the state government has requested the Centre not to allocate power from the NTPC’s stations coming up at Katwa (West Bengal), Pirpanti and Nabinagar-II (both in Bihar) and cancel the PPAs executed between the Maharatna Power Producer and Gridco, the state-owned bulk power trader.

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