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Ex-Axis Bank chief joins Advent Int'l as operating partner
Advent International, the global private equity firm, today announced that P Jayendra Nayak has joined Advent’s Operating Partner Programme to advise on Indian investment opportunities, especially those in the financial services sector, and the development of Advent’s business in India.

Govt allows Pepsico to inject $200 mn additional equity
The government today cleared a proposal of the US-based soft drinks major Pepsico Holdings to inject additional equity of $200 million (around Rs 930 crore) into its Indian arm within three years.

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Honda Siel to export engine parts to Japan...
Luxury car maker Honda Siel said today that it will commence exports of engine components like the crank shaft and connecting rod manufactured at its Rajasthan plant to its parent, Honda, in Japan, beginning from October this year.
Corporate

Accept pay scale, IIT federation tells members

The All India IIT Faculty Federation (AIIITFF) President M Thenmozhi today urged faculty members of all the Indian Institutes of Technology (IITs) to accept and implement the recommendations of the Sixth Pay Commission. - IIT faculty to accept new pay structure - IITs to accept new pay scheme after Council meet - IIT faculty puts stir on hold - HRD ministry rules out IIT pay hike but relaxes hiring norms - Sibal meets IIT faculty today - Newsmaker: M Thenmozhi">Newsmaker: M Thenmozhi “We have requested the faculty to accept the pay package in the interest of the entire IIT system,” Thenmozhi told reporters here after the faculty meeting at IIT Delhi today. The meeting was held to take stock of the situation after the HRD ministry met the IIT Council on October 19. The board of governors of most IITs will meet in a month’s time and the IIT faculty will meet thereafter. Thenmozhi, however, said that the issue relating to the 40 per cent cap on promotion of professors to senior grades and the provision of contractual appointment at entry level continue to remain matters of concern. Last month, HRD minister Kapil Sibal had assured the faculty that the government guidelines on the pay structure could be relaxed for promoting excellence. Faculty associations were unhappy about an HRD clause which said there would be a 40 per cent cap on professors who are eligible to receive higher pay after six years in the post.


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