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 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'.
People like Manmohan Singh and P Chidambaram, who as finance minister had fully supported the NPS, refuse to exercise their moral and political influence to try and stop Ashok Gehlot and others hell-bent on wrecking the states' finances, notes Virendra Kapoor.
The opposition party questioned why the government took five years after the liquidation proceedings of ABG Shipyard to lodge an FIR in connection with the alleged duping of 28 banks.
Nandan Nilekani said one board member had received two anonymous complaints on September 30, 2019 - one dated September 20, 2019, titled 'Disturbing unethical practices' and an undated note with the title, 'Whistleblower Complaint'.
Two weeks since the much talked about new income tax return filing portal was launched, technical glitches continue to mar the site, an issue finance ministry officials will take up in a meeting with Infosys -- the vendor which provided the IT solution -- at a meeting on Tuesday. Several stakeholders have submitted written inputs highlighting the issues facing the portal as well as areas that need to be fixed. At the company's annual shareholder meeting, Infosys had on Saturday stated that it is working to resolve the issues and has already succeeded on some fronts.
Billionaire Mukesh Ambani on Wednesday pitched for using the USO Fund to subsidise smartphones for select groups to help penetrate the digital revolution and said India should make the rollout of 5G or the fifth-generation technology standard for broadband cellular networks a national priority. As much as 5 per cent of the licence fee paid by telecom operators goes to the Universal Service Obligation (USO) Fund, which was set up in April 2002 for achieving universal service objectives by providing access to telephone services in rural and remote areas and creation of infrastructure for mobile services and broadband in these areas. However, according to the CAG, less than half of the funds so collected are transferred for the said purpose.
IT services major Wipro on Friday said it has appointed Capgemini group veteran Thierry Delaporte as its chief executive officer and managing director, effective July 6, 2020. In January this year, the company had said its CEO and Managing Director Abidali Z Neemuchwala had decided to step down from the company. Abidali Neemuchwala will relinquish his position as CEO and MD on June 1.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
India was among the top-five economies with the largest general government capital stock level, said, in 2015, an International Monetary Fund report called "Making Public Investment More Efficient". The report fuelled a debate on countries sitting on piles of cash that could be used better. India was believed to have public assets worth $4.5 trillion. The report urged countries to start asset recycling. Six years after the report, Australia's success in asset recycling has turned India into a believer; despite doing averagely in its previous efforts on roads, railways or meeting its divestment targets.
The P-8I, which is widely acknowledged to be the world's most deadly LRMR-ASW aircraft, is a derivative of the Boeing 737-800 airliner, onto which a plethora of sensors and weaponry has been fitted.
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.
Alan Baptist reveals how he went from 95 kg to 65 kg.
"The day Crime Branch took Raj Kundra to his Mumbai home for the searches, the Shilpa Shetty was questioned too. Shilpa was very upset after the interrogation. She and Kundra had a huge argument where she shouted and asked him what was the need of doing such a thing and why he did everything. The Crime Branch team had to intervene between the couple to pacify the actress," the sources said.
The Mumbai crime branch has appointed forensic auditors to look into the financial transactions and bank accounts of businessman Raj Kundra, arrested in an adult films case, a police official said.
CAG recommended fixing a definite time frame for rolling out simplified GST return forms.
'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.'
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
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.
Rahul acting as 'agent' of rival firms, BJP alleges as Congress attacks govt on Rafale deal
India national team and Bengaluru FC footballer, CK Vineeth was given the pink slip by Kerala Accountant General for lack of attendance
'I was shocked by the kidnapping episode. I could have lost my life.'
After facing multiple outages that irked the regulator, the country's largest private sector lender, HDFC Bank, is revamping its technology infrastructure by making large scale investments, wherein it is bringing new talent, getting into cloud-native stacks, a shift from the traditional monolithic IT infrastructures, and working with strategic partners for better products and services. The bank management is clear that it will do whatever it takes in line with its growth path to ramp up its technology infrastructure.
The minister also said that four cases of corruption in defence deals have been registered by the CBI since 2015.
There was the mistaken belief that there was no risk of a second wave anytime soon.
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.
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.
The auditor also raised doubts over the safety procedures.
"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.
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.
The ED has attached seven sugar mills worth over Rs 1,097 crore in a money laundering case against former Uttar Pradesh BSP MLC Mohammed Iqbal and his family, officials said.
Research reports say insurance agents are likely to sell you unsuitable products. So, you should know your requirements and premium paying ability.
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.
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.
DoT though failed to implement TRAI's recommendations to levy spectrum usage charge
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.
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.
