The Enforcement Directorate (ED) on Tuesday arrested former Mumbai police commissioner Sanjay Pandey in connection with a money laundering case linked to the alleged illegal phone tapping of NSE employees, officials said.
Payments startup BharatPe on Tuesday said it has terminated several employees and vendors as well as filed criminal cases against them for misconduct besides deciding to claw back former founder Ashneer Grover's restricted shares in the firm. The steps have been taken by the company's board following a detailed corporate governance review against the backdrop of alleged lapses and misdoings during the tenure of Grover as managing director. IPO-hopeful BharatPe, which allows shop owners to make digital payments through QR codes, has implemented a new code of conduct for senior management and employees and brought in a comprehensive vendor procurement policy to avoid a repeat of alleged lapses that happened when Grover was managing director.
The Reserve Bank of India (RBI) has approved a three-member committee of directors to run the day-to-day functioning of cash-strapped Lakshmi Vilas Bank.
'There should be total transparency in the system.'
Besides, auditors are required to mention in their reports whether the companies have made adequate disclosures about dealings in junked notes during demonetisation
Mehrishi has emerged as the top choice for the post, the sources said, adding a formal order on this is expected soon.
Zomato said late on Friday that it was pushing the implementation of the new food quality policy to May 3 from April 18.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
The Enforcement Directorate (ED) on Tuesday arrested the former CFO and internal auditor of the Cox and Kings Group in connection with its money laundering probe in the Yes Bank alleged loan default case. The agency said ex-chief financial officer Anil Khandelwal and internal auditor Naresh Jain were arrested under the provision of the Prevention of Money Laundering Act
Many federations and former athletes alike have been calling for an anti-doping legislation to implement the existing rules.
The CAG audit and other data suggests it could be far from the efficient new alternative that was once conceptualised. A conclusive review remains elusive till the government begins to release more granular and comparable data on the complex backend of GST to a deeper scrutiny, by researchers, auditors and the public.
The Congress declared Rs 526 crore as income from unknown sources which is 15.57 per cent of the total income of the national parties from unknown sources, the ADR said.
According to a report by ManpowerGroup India, Indian MBAs are more in demand than IT professionals.
Following the Supreme Court on Friday, the Board of Control of Cricket in India secretary Ajay Shirke has written a letter to Justice Lodha Panel asking for clarification in the issues related to broadcast rights for the Indian Premier League. The invitation to tenders (ITTs) are slated to be opened on Tuesday (October 25).
Vodafone Idea will gradually lose market share given its weak balance sheet and limited financial flexibility, says Fitch.
North Block is concerned that when India is trying to attract more investment, putting up restrictions on audit firms could create an avoidable bad advertisement.
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
The government has reached out to investors to apprise them about Life Insurance Corporation of India's (LIC's) growth and prospects as it prepares for the country's largest initial public offering (IPO). Preliminary presentations have been made to inform investors on how the organisation is being restructured ahead of the IPO, along with its financials, so that the IPO process can be hastened once its embedded value is derived. "A detailed presentation has been made to investors, giving them details on how LIC is positioned beyond what is known. "This includes how LIC is being restructured ahead of the IPO, and investors are keen to know that," said an official. In the Finance Bill, 2021, the government had proposed a slew of changes to the LIC Act, 1956.
Rediff.com's Syed Firdaus Ashraf traces the journey of PM-CARES from its founding to finally admitting it is not a government fund.
The two troubled subsidiaries of Reliance Capital have over Rs 20,000 crore debt of both the companies. Reliance Home Finance has a debt of Rs 11,500 crore and Reliance Commercial Finance owes Rs 9,000 crore to lenders.
"Yeh sab doglapan hai." With these words, Ashneer Grover not only called out an entrepreneur being hypocritical, but also shot to fame as a reality television star. It happened in the first few days of January, when the funded part of the start-up world needed some warm-up to get back to work, and inevitably Grover's antics on the show became a talking point. The Twitterati also debated whether it was unbecoming of a founder to diss a peer's business model with such abrasion. And hundreds of memes, with the dialogue set in various circumstances, flooded social media.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
The Bombay high court on Thursday directed the Comptroller and Auditor General of India (CAG) to look into allegations of irregularities in toll collection on the Mumbai-Pune Expressway.
On October 24, the NSE sought clarification from the IT major on the whistleblowers' allegations and why the company had not disclosed the same to the exchanges.
'Banking is a business of trust.'
Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack. The report noted that issues remain in IPO companies in which there seems to be a need to institutionalise governance practices.
Tax auditors plan to down tools every Tuesday and Thursday until the government issues a decree to raise their wages.
Members of Parliament, state legislatures, and local governments not eligible to be members of PSB boards
The move also comes against the backdrop of the embattled Mallya facing a case of loan default worth Rs 9,400 crore.
In its EoI document, the bank had said it was open to converting into a small finance bank.
A new Congress leader may make an electoral impact by his very presence. Congress voters who had moved away from the party, after being influenced by the BJP's 'family rule' campaign, can now return with a certain moral satisfaction, observes N Sathiya Moorthy.
Finance Minister Arun Jaitley on Wednesday asked the CAG not to sensationalise its findings to get into headlines, a view the Congress party had voiced in the past after huge notional losses were projected in reports on 2G and coal allocation scams.
The CAG said the strategic missile system, which were to be deployed on the China border, procured from the state-run Bharat Electronics Ltd were deficient in quality.
National auditor says a significant part of NPAs was due to fraud and may never be recovered
Defending the proactive approach of the CAG, Rai emphasised that the job of the public auditor was also to ensure that executive and the government are held financially accountable to legislature.
The solicitor general said that the PM CARES Fund is a 'voluntary fund'. "It is a public trust. It is a body where you can make voluntary contributions and no budgetary allocations to the NDRF or SDRF are being touched. What has to be spent will be spent," the law officer said.
Goenka has not even attended the last three annual general meetings of the company, yet he drew around half of the managing director's pay
The BJP said the email purportedly by an Airbus executive referred to a helicopter deal and not Rafale.
Under the new guidelines, the top 10 active equity schemes in terms of assets would collectively require investments of around Rs 365 crore -- up from mandated Rs 50 lakh at present -- in their own schemes.
The company board, wherein Siddhartha's wife Malavika Hegde is also a director, met on Wednesday to put in place a working structure of the company.
