DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
Fintechs need to behave with responsibility and transparency. A lot of mis-selling has been happening. Other issues have been plaguing the fledgling industry -- high interest rates, even higher processing fees, harsh collection process and, most critically, data leakage leading to rampant frauds, points out Tamal Bandyopadhyay.
The Congress leader is also being probed by ED in two separate money-laundering cases of Aircel-Maxis and INX Media.
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
A special audit of Anil Ambani group firm Reliance Communications will be delayed, as the auditor Parakh & Co. has sought an extension for three months from mid-July.
As CAG found Reliance Industries was being favoured in gas exploration deal to the government's detriment, former Prime Minister Manmohan Singh told the then top auditor Vinod Rai that audit should not hurt the private sector and RIL was one of the biggest and most respected.
Vodafone Idea Ltd (VIL) CEO Ravinder Takkar did some plain speaking. In an analyst call after its quarterly results recently, Takkar said that the main stumbling block to raising fresh capital from investors is "pricing" - telecom tariffs, in other words. Nine months ago, the telecom company's board had cleared a proposal for raising Rs 25,000 crore from investors, after the promoters made it clear that they were not ready to pump in more money. But potential investors are concerned that without clarity on tariff hikes (there have been none for more than 18 months) they might just lose their money. The lack of visibility on raising tariffs has also impelled VIL to request the Department of Telecom (DoT) for a fresh reprieve by extending the two-year moratorium on paying its spectrum instalment of Rs 8,200 crore for another year till FY23.
If suitable action is not taken in corruption cases, it becomes normalised in society, the prime minister said. When a generation sees that a corrupt person in the family is let off without or very little punishment, their courage to indulge in corrupt activities grows manifolds, he said.
'It is surprising and unfortunate that unfounded allegations are now being made without any reference to me whatsoever,' Vijay Mallya said.
In the Companies Bill, the Ministry stipulates that no company can appoint or re-appoint an individual or a firm as auditor for more than five consecutive years.
Government auditor, the Comptroller and Auditor General has found that not all disease outbreaks and chemical accidents taking place in different parts of the country are reported to Central authorities which could effect the response to epidemics.
The Comptroller and Auditor General reports saw senior politicians, powerful ministers and top bureaucrats end up in jail. Thanks to those reports, public scams such as 2G, Coalgate and the Commonwealth Games became part of the popular discourse.
The Central Bureau of Investigation, which is probing the quid pro quo investment case against YSR Congress chief Y S Jaganmohan Reddy, filed one more supplementary chargesheet on Monday.
Given that the target was to reach 80.34 million families under PMUY - within three months starting April 1 - the government should have distributed at least 241.02 million cylinders by the end of June. It actually ended up distributing only 119.7 million cylinders.
It asks banks to take immediate action against officials responsible for lapses.
Sebi said Thapar-promoted and -related entities owed Rs 1,723.19 crore as receivables to the company, while connected parties owed another Rs 462.74 crore.
Comptroller and Auditor General Vinod Rai, whose reports on irregularities in coal block allocations and 2G telecom spectrum had created a major political storm, deprecated the "brazenness" with which the decisions were being taken, calling it "appalling".
'Due to the ongoing pandemic and lockdown, we the sports bodies are unlikely to get any sponsorship and hence we may find it very difficult to restart our activities effectively'
The newborns opens their eyes to see the world fighting a deadly disease.
Attacking the Congress over former Comptroller Auditor General Vinod Rai's claims, Bharatiya Janata Party on Sunday said the opposition party stood "exposed" and demanded that the identity of leaders who "approached him" to drop names of those involved in scams during the United Progressive Alliance regime be revealed.
India's mainstream naval fighter jet plane MiG-29K faces operational deficiencies due to defects in engines, airframe and fly-by-wire system leading to very low availability.
Government is considering a proposal to make Comptroller and Auditor General (CAG) into a multi-member body, a move that came under sharp criticism from the opposition and civil society.
Finance Minister P Chidambaram on Tuesday said he intends to work with CAG to erase the impression of adversaries in an attempt to restore trust and confidence in all institutions.
Addressing a Comptroller and Auditor conference in New Delhi, Chidambaram said the official auditor and the government have been cast as adversaries to each other in the aftermath of recent audit findings.
Violation of the rules will attract a fine of Rs 4000, the chief minister said.
The CAG observed there was no change in the price of 'flyaway aircraft package'.
With this relaxation more than 77 per cent of the depositors will be able to withdraw their entire account balance.
Trying to wriggle out of the controversy over Union Minister V Narayansamy's remarks on the Comptroller and Auditor General, the Congress on Monday indicated that the government will not go in for changes in the auditor's institutional mechanism based on the "activities of a person".
The auditor of government accounts, CAG, has faulted the Income Tax department for levying Rs 708.6 crore less in taxes from companies including State Bank of India, Tata Sons, Mahindra & Mahindra and Bharti.
Disagreements over scope of audit cropped up on the very first day the Comptroller and Auditor General of India began to the second round of audit of spendings on eastern offshore KG-D6 fields with RIL alleging that the auditor was not confirming if the accounts scrutiny would be as per the provisions enshrined in the Production Sharing Contact.
Amid furore over coal blocks allocation, the government will place its views before Parliament's Public Accounts Committee by September 14 on the observations made by the Comptroller and Auditor General. "The coal ministry will submit its comments to the PAC on CAG's observations on coal blocks allocations by September 14," said a top coal ministry official.
Looking to better serve the interests of all stakeholders, the government on Thursday approved amendments to Companies Bill 2011, including changes related to spending on CSR activities.
Keeping up the government's attack on the Comptroller and Auditor General, Union minister V Narayanasamy on Friday said the top auditor owed an explanation on its estimated loss of Rs 1.76 lakh crore in 2G spectrum allocation in the previous auction.
The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
The govt auditor also indicts DGH and management committee of D1 and D3 fields
Bharatiya Janata Party leader Kirit Somaiya on Tuesday demanded a special Comptroller and Auditor General audit into the alleged irregularities related to the construction of Maharashtra Sadan building along with an inquiry into certain 'benami' companies, which he claimed, had been floated by two state ministers.
Stung by the Comptroller and Auditors General report on notional revenue loss in coal blocs allocation, Congress on Thursday asked the national auditor to respond to the debate triggered by its findings about its methodology and working style.
'In China there is capital punishment for heritage theft. That is how they treat criminals, unlike us.' 'Here we treat them like it's a house-breaking theft.'
The Comptroller and Auditor General can do a performance audit of production sharing contracts
United Progressive Alliance key ally Dravida Munnetra Kazhagam on Monday strongly pitched for a multi-member Comptroller and Auditor General, saying the recent flopped auction of 2G spectrum that netted only about Rs 9,000 crore had proved wrong the top auditors' report pegging the presumptive loss in 2G allocation at Rs 1.76 lakh crore.
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