Corporate sector sees big ticket deals in 2013

Dec 30 2013, 20:33 IST
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If Narayana Murthy made a comeback to revive the sagging fortunes of Infosys, neo rich Jignesh Shah found himself in the cross hairs of brewing Rs 5,600 crore payment fiasco at the National Spot Exchange Ltd (NSEL). Reuters If Narayana Murthy made a comeback to revive the sagging fortunes of Infosys, neo rich Jignesh Shah found himself in the cross hairs of brewing Rs 5,600 crore payment fiasco at the National Spot Exchange Ltd (NSEL). Reuters
SummaryAs 2013 slips into history, alleged deeds and misdemeanours pushed corporate honchos into the limelight.

invest a staggering Rs 33,000 crore in the country.

Amid persisting uncertainties over economic growth and compelling need to ensure positive investment climate, many a regulatory heads made their presence felt.

Inflationary pressures kept Reserve Bank of India governor Raghuram Rajan busy in making efforts to strike a balance between price rise and growth. Contrary to expectations, the new RBI chief's approach almost reflected that of his predecessor D Subba Rao, who had attracted brick bats from business community for his hawkish monetary policy.

Far away, the US Federal Reserve chairman Ben Bernanke, who is all set to hang his boots early next year, kept markets on tenterhooks with expectations and concerns over his easy money regime. Starting the process of tapering, the Federal Reserve this month announced cutting down of monthly bond purchases.

U K Sinha, the chief of capital market watchdog Securities and Exchange Board of India (Sebi), steered ahead with a plethora of reform-oriented measures for investors as well as corporates. Equipped with new powers, he is also leading the way in clamping down on fraudulent money pooling schemes.

Apart from political heat, a few ministers had their share of limelight this year. While Finance Minister P Chidambaram went all out to take measures to revitalise the economy and contain fiscal deficit, his Commerce counterpart Anand Sharma played tough before clinching the WTO deal in India's favour. Both were also instrumental in getting norms relaxed for foreign direct investments in many sectors.

Young turk and Corporate Affairs Minister Sachin Pilot managed to get the Parliament approval for the long pending new companies law that promises a paradigm shift.

Meanwhile, controversies continued to dog IT professional Phaneesh Murthy, who this year had to quit iGate following revelations that he was in a relationship with a female colleague.

With the election year round the corner, it is hoped that good deeds would overshadow uncertainties.

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