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.
Tech giant Apple on Monday said it is undertaking a detailed investigation following the violent incident at its supplier Wistron's Narasapura facility in Karnataka last week.
National auditor says a significant part of NPAs was due to fraud and may never be recovered
The Supreme Court on Thursday directed that former Unitech promoters Sanjay Chandra and Ajay Chandra be shifted from Tihar Jail in Delhi to Mumbai's Arthur Road Jail and Taloja prison in Maharashtra after the ED said they were conducting business from the premises in connivance with the staff.
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 project shows a lack of respect for history, even if an inalienable part of it is colonial history, asserts T N Ninan.
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
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
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.
In New Delhi's corridors of power, debate continues on whether the navy even needs a third aircraft carrier.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
Banks can collapse, markets can be rigged, investment instruments can become worthless overnight, auditors can fail to blow the whistle, board directors can be asleep, and regulators can be incompetent, notes T N Ninan.
"It cannot be that the Supreme Court is wrong, the CAG is wrong and only the dynast is right. Satyameva Jayate -- the truth shall prevail. The CAG Report on Rafale reaffirms the dictum," Jaitley said in a series of tweet.
Battered by various Comptroller and Auditor General reports on alleged scams, government says it is "actively" considering a proposal to make the official auditor a multi-member body.
The EOW suspects a nexus between some of the accused and HDIL, whose mammoth loan defaults are said to have caused a liquidity crisis at the bank, leading to appointment of administrator by RBI and restrictions on withdrawal of funds.
Supreme Court has done its best to have the BCCI implement the Lodha panel's sweeping reforms, said the committee's Chairman Justice (Retd) R M Lodha after the apex court asked the Cricket Board to not disburse funds to its state until they abide by the recommendations. "If the Supreme Court has done something, it must be for the implementation of its judgment on July 18. The court has done what it thought was best for having its order implemented. Let's see to what extent the order is carried out by the BCCI," said Lodha.
As a result, the deadline for filing June quarter results ends on August 15. However, only 1,538 companies out of the 4,000-odd listed firms managed to declare their results within the usual deadline.
On July 23, the apex court had cracked its whip on errant builders for breaching the trust reposed by homebuyers and ordered cancellation of the registration of Amrapali Group under the real estate law RERA, and ousted it from its prime properties in the NCR by nixing the land leases.
The minister also said that four cases of corruption in defence deals have been registered by the CBI since 2015.
Banerjee also criticised Dhankhar over his recent visit to North Bengal, claiming a conspiracy was being hatched to divide the region.
The auditor said that in the case of performance audit on hydrocarbon production sharing contracts, 'interactive meetings were held with two operators, including RIL, prior to the finalisation of the draft performance audit report'.
A week after violence broke out at its Narasapura facility in Karnataka, contract manufacturer Wistron on Saturday said it has fired its vice-president who was heading India operations even as iPhone maker Apple placed the Taiwanese firm on probation. Wistron, which assembles the latest version of the iPhone SE at the violence-hit plant, admitted that there were faults in its wage payment processes. A section of workers at Wistron Corporation's facility in Narasapura Industrial Area in Kolar district near Bengaluru went on rampage last week over non-payment of their wages.
For some, he's a bully and probable 'blackmailer' who targeted the rich and famous, especially in Bollywood, for fame, and allegedly, ransom. For others, he's finally the one brave narc who decided to do his job, no matter how powerful his quarry, observes Shekhar Gupta.
With increase in range and payload capability, Madhavan said the new variant will be much superior than Tejas Mark-IA, 73 of which are being procured by the Indian Air Force from the HAL under a Rs 48,000 crore deal that was approved by the government on January 13.
The Securities and Exchange Board of India (Sebi) has directed Franklin Templeton MF to pay Rs 5 crore as penalty, return over Rs 450 crore collected as 22-month investment management and advisory fees, and imposed a two-year ban on launching new debt schemes for alleged irregularities in running six of its debt schemes that were shuttered last year.
India national team and Bengaluru FC footballer, CK Vineeth was given the pink slip by Kerala Accountant General for lack of attendance
Ghost beneficiaries aren't the only kind of issue companies face during a period of unprecedented CSR spending, touching nearly Rs 12,000 crore in 2018-19. Frauds related to procurement, construction, and end-use of funds have had companies engaging forensic auditors to keep tabs on how money is spent, revealed conversations with those involved in such investigations. Firms are also increasingly strengthening their own capabilities to better implement their programmes.
Under attack over his remarks that official auditor should not "sensationalise" its audit findings, Finance Minister Arun Jaitley on Thursday said media did not accurately reflect the spirit of his speech at the CAG conference.
The company will have to retain independent auditor, do annual compliance review.
The Comptroller and Auditor General's reports on the scams under the watch of the UPA government at the Centre are being celebrated by the BJP, but when the auditor indicts the government of its blue-eyed boy in Gujarat, the party is strangely silent. K Shah reports from Gandhinagar
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
Sebi on April 4 gave the brokerages 60 days to have their books vetted by third-party auditors.
The auditor also raised doubts over the safety procedures.
The MiG29K and MiG29KUB, the aircraft carrier's primary fighters, spent more time in the hangar than in the air, with fleet serviceability remaining below 50 per cent, reports Ajai Shukla.
Reliance Infrastructure is fully geared to deliver the project in 60 months from the appointed date of June 24, 2019, as per the contract, Reliance Infrastructure said in a BSE filing.
Research reports say insurance agents are likely to sell you unsuitable products. So, you should know your requirements and premium paying ability.
With the figure of Rs 1.76 lakh crore loss in 2G spectrum allocation being disputed, Comptroller and Auditor General Vinod Rai and other officials of the government auditor will be asked to appear before the Joint Parliamentary Committee looking into the issue.
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
The Bharatiya Janata Party, however, said the governor is acting within his constitutional parameters while the "TMC is scared".
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