The compulsory peer reviews of auditors' notes for Sensex and Nifty companies for Q3 results of the last fiscal and full-year results of 2007-08 have proved a virtual non-starter, owing to confusion over its scope and the appointment of auditors.
Auditors and promoter entities linked to the UB Group have come under scanner of multiple regulatory agencies for alleged irregularities.
It is quite a shock that that company management, mainly disgraced chairman B Ramalinga Raju, kept everyone -- seemingly --in the dark for a decade.
Rediff reader Kiran Mestry, 49 from Mumbai tells us how her first salary changed her life.
A special court on Tuesday set March 9, 2015, as the date for the verdict in the multi-crore accounting fraud in erstwhile Satyam Computer Services Limited.
Hailing from a family of lawyers from Maharashtra, he was part of a nine-judge Bench of the Supreme Court which in August 2017 declared the right to privacy as a fundamental right of an individual.
Addition of new capacity, initially scheduled for Q4 of 2009, has been deferred in view of the current economic slowdown, which has impacted the automobile industry, resulting in a drop in demand, a senior offical of HSCI said. The company had anounced an initial investment of Rs 1,000 crore (Rs 10 billion) at the Rajasthan plant, of which Rs 600 crore (Rs 6 billion) had already been used.
The administration of the union territory as directed by the Jammu and Kashmir high court to make public land given under the controversial Roshni land scheme, since scrapped by a court, came out with the list of beneficiaries.
According to an official close to the development, in the coming financial audit report, to be tabled in Parliament's Budget session next year, CAG will detail the slide in the government's share in petroleum sector profits due to a drop in gas production.
He also cautioned against politicisation of defence purchases, suggesting that this had earlier led to the delay in the army acquiring the Bofors gun.
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After scrapping the selection of six UPA-appointed bank chiefs, the government has now decided to make significant changes to the selection process.
Sher Shah Suri ruled for only a few years, but his huge influence on India continues six centuries later, reveals Farhat Nasreen.
India has historically not had a strong compliance mechanism around insider trading. This is in stark contrast to developed countries.
'Mamata is an emotional person, she follows her heart.' 'We loved that Didi, we still love her, but she is a changed person.' 'Why and how the change happened, who is responsible, I can't say.'
The CAG has found that the Union government in the very first two years of the GST implementation wrongly retained Rs 47,272 crore of GST compensation cess that was meant to be used specifically to compensate states for loss of revenue.
Finance Minister Nirmala Sitharaman has brought down the budgetary allocation for the fertiliser subsidy for FY21 to Rs 71,309 crore, from the RE of Rs 79,998 crore for FY20, while increasing food subsidy to FCI through "ways and means advance" to Rs 50,000 crore for FY21, from Rs 36,000 crore in RE for FY20, and under the National Food Security Act (NFSA) to Rs 77,982 crore, from Rs 75,000 crore.
A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
The court also questioned how Amrapali Group could mortgage the entire projects and secure loan worth thousands of crores of rupees from banks when it was only an agent to develop the property.
CoA chief Vinod Rai has made it clear that the CAC comprising Kapil were 'not conflicted'
The opposition party also said that it would be improper on the part of Mehrishi to present the report in Parliament.
Government auditor, the Comptroller and Auditor General has slammed the Navy, defence ministry and a state-run shipyard for the protracted delay in carrying out refit of submarine INS Sindhukirti because of which the force was unable to operate one of their lethal platforms since June 2004.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
'The new trains should be fast, but the roll-out of the privatisation plan should be slow and well-considered,' recommends T N Ninan.
The BCCI top brass is relieved that the Test series between England and India is starting at Rajkot on Wednesday as per schedule. "BCCI is pleased and relieved with the order. We have the highest regard for the Supreme Court and we are extremely thankful that the Honourable Apex Court understood our position and granted a favourable relief," a very senior BCCI member in the know of things told PTI on Tuesday.
The company said the committee, headed by independent director D Sundaram and assisted by independent legal counsel Shardul Amarchand Mangaldas & Co, and PricewaterhouseCoopers, found that the "allegations are substantially without merit".
Government auditor CAG has expressed concern over the post of chairperson of Cyber Appellate Tribunal lying vacant for about five years, saying this has led to not a single case being heard or disposed of despite pending appeals.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
On the basis of the complaint filed by Leena Mangat, the CB-CID had filed an FIR on Jan 9, 2009.
India discard Virender Sehwag scored a breezy 48 off just 20 balls as CAG (Comptroller &Auditor General of India) were involved in a tie with Mumbai Customs, in a concluding Group C league match of the Rs 12 lakh tenth All India Dr D.Y. Patil T20 Cup, organised by the D.Y Patil Sports Academy, under the auspices of the Mumbai Cricket Association, at the D Y Patil Stadium, in Nerul, Mumbai, on Wednesday.
CAG, in the third round of audit of KG-D6 as well as three other oil and gas fields, on November 11 wrote to RIL seeking records to audit spending in 2012-13.
Defying doctor's advice, an unwell Chief Minister Arvind Kejriwal met CAG Shashi Kant Sharma to discuss the issue before going into a Cabinet meeting.
Last month, then Delhi Chief Minister Arvind Kejriwal had ordered a CAG scrutiny of private power distribution companies.
The government has suffered a loss of Rs 12,488.93 crore (Rs 124.88 billion) due to under-invoicing of gross revenue by six telecom companies including Reliance Communications, Vodafone and Bharti Airtel, the CAG said in a damning report on Friday.
The move is aimed at protecting investors from parking their money in dubious schemes.
Congress leader Sanjay Nirupam on Monday slapped a legal notice on ex-Comptroller Auditor General Vinod Rai accusing him of defamation and threatened to launch criminal proceedings if he did not apologise for remarks that the MP had asked the former chief auditor to drop Manmohan Singh's name from 2G report.
The apex court was hearing a plea of the NGO seeking initiation of contempt proceedings against the Union home secretary and chief secretary of J-K for their alleged 'wilful disobedience' in complying with the court's May 11 order. The top court told the administration that with the change of L-G, nothing changes as the special committee is there to look into the issue.
Ontario's Minister for Citizenship and Immigration Mike Colle had to resign from the Cabinet on Thursday because of a damning report by the provincial Auditor-General, who took exception to him issuing a cheque for $1-million to the Ontario Cricket A
It said Air India "accepted" that though the number of flights from Delhi "increased substantially.
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