Indicated in first CoA meeting itself that I didn't want any payment: Guha

Technology
Noted historian Ramchandra Guha on Wednesday said he didn't expect to be paid for his tenure in the outgoing Committee of Administrators and had made this clear in the CoA's very first meeting.
Guha declined a payment of Rs 40 lakh along with another former CoA member, banker Vikram Limaye, who was to be paid Rs 50.5 lakh.
"I had indicated in the first meeting itself that I did not expect or want any payment," Guha told PTI.
Limaye has also refused to accept the payment due to him, citing the same reason, according to a source in the Board.
The Vinod Rai-led CoA, which demits office on Wednesday, was originally a four-member panel appointed by the Supreme Court on January 30, 2017.
The 61-year-old resigned from it in July 2017, citing personal reasons, while Limaye also put in his papers subsequently to take charge as the Managing Director and CEO of National Stock Exchange (NSE).
Guha's resignation letter later created a storm as he lambasted the BCCI for failing to address the conflict of interest issue with regards to players and coaches holding multiple positions.
He also criticised the handling of Anil Kumble as the then coach of the national team, saying that his tenure should have been extended.

 Kumble stepped down after a public fallout with captain Virat Kohli following the Champions Trophy in 2017. Guha had slammed the "superstar culture" in the Indian team...READ MORE

Star India standalone profit after tax dips 44% in FY18 on higher expenses

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Companies News:

Star India’s standalone profit after tax was down 44 per cent in FY18 as expenses increased at a faster pace while revenue growth was sluggish. According to the company’s filings with the Registrar of Companies, Star India's revenue for FY18 rose 5.8 per cent to Rs 9,199 crore as against Rs 8,698 crore in FY17. The company’s net profit slumped from Rs 1,155 crore in FY17 to Rs 642 crore in FY18, a 44 per cent decline.

Data provided by financial data accessed by business intelligence platform Tofler indicates that the company’s total expenditure for the year grew 18.6 per cent to Rs 8,242 crore. In September 2017, Star India won the global media rights to the Indian Premier League for Rs 16,347.50 crore for five years (2018-2022).

Sources reveal that the Uday Shankar-led network’s payout to the Board for Control of Cricket in India (BCCI), included Rs 4,300 crore in the first year of the deal, while the remaining amount is to be equally divided over the rest four years. Sources said a part of the payout would have been accounted in FY18 financials, though the details are not available. This would account for the steep increase in Star India’s expenditure for the fiscal under consideration.

Other expenses, which accounted for 87 per cent of the total expenses, went up 20 per cent year-on-year to Rs 7,182.5 crore in FY18. Queries to Star India went unanswered.


 Star India hosted the first IPL season on its network from April 2018, and the revenues for the same will be reflected in the FY19 numbers. Industry estimates peg Star India’s revenue from IPL 2018 at Rs 2,000 crore.