The three promoters - Anil Kumar Sharma, Ajay Kumar and Shiv Priya - had diverted Rs 1,500-1,600 crore through bogus methods like loans and advances between group firms at inflated rates.
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
The bone of contention is the 450-seat convention centre built in the new DRDO building behind South Block at an additional cost of Rs 6.40 crore which has been taken objection to by the Comptroller and Auditor General.
Every third child in Gujarat is underweight, says the CAG
The auditors, B K Ramadhyani & Co, questioned the accounting method used by the airline to calculate costs incurred on maintenance and repair of aircraft.
Special court will announce judgement in Satyam case on Dec 23.
Police FIR reveals the bank had replaced 44 loan accounts of HDIL with 21,049 fictitious loan accounts. These 21,049 were actually not created in the core banking solution of the bank, but were mere entities in the advances master indent submitted to RBI for conducting its inspection for the year ended March 2018.
Jaitley assured the Lok Sabha amid the ongoing standoff between Indian and Chinese military in the Doklam area.
Did men and women of redoubtable experience and public service, upholders of the country's steel frame and paragons of corporate governance, never smell a rat?
It wasn't Kumar Mangalam Birla alone; the Hindalco mine allocation turned the spotlight on the PM and the Odisha CM.
More than a year after the Comptroller and Auditor General of India (CAG) tabled the coal block allocation report in Parliament, indicting the government for a notional loss of Rs 1.86 lakh crore while allocating coal blocks, the Central Bureau of Investigation (CBI) has filed 14 First Information Reports (FIRs) against private sector companies, and more are in the offing.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
The issue of CAG and PAC was mentioned in paragraph 25 of the judgment of the top court which had held that there were no irregularities in the procurement of 36 Rafale jets from France.
Cricket South Africa's (CSA) franchises have experienced profits for the first time since the country was reinstated into international cricket in 1991. CSA President Chris Nenzani attributed this achievement to heightened corporate governance and diligent operational processes at its affiliates. "Congratulations to all concerned with these outstanding results," Nenzani said.
Public Money, Private Agenda -- The Use and Abuse of MPLADS by A Surya Prakash provides a comprehensive look at the Members of Parliament Local Area Development Scheme, which was launched 20 years ago in 1993. Excerpts from the book.
The Income-tax Department has allowed irregular exemptions on TV rights from BCCI to four cricket associations resulting in non-levy of tax to the tune of Rs 37.23 crore, the Comptroller and Auditor General (CAG) said on Friday.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
Past experience shows loan waivers benefited only 30% of India's farmers; here again, the richer cultivator skimmed the cream, leaving very little for his poorer brethren.
'The finance minister in her Budget speech should spell out how exactly she intends to get back to the 7% track, and the hard decisions she intends to take in order to adjust to the realities of a slowing economy until growth momentum returns,' suggests T N Ninan.
The agency did not seek a reappointment in FY12.
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Vinod Rai, former Comptroller and Auditor General of India, former India women's captain Diana Edulji and banker Vikram Limaye were present at the meeting held at the IDFC Bank's premises in suburban Bandra-Kurla Complex.
If the finance minister's tax proposals have stimulated demand at all, it's for CAs, notes Kanika Datta.
The CAG, in its report tabled in Parliament recently, had stated that the defence forces had ammunition that could last for 20 days in the event of a war, instead of the minimum requirement of 40 days.
Did former CAG Vinod Rai exceed his brief? Was he, as some in the government alleged, planning a post-retirement life in politics (which he had refuted many times)? Or did he strengthen the agency's constitutional mandate by refusing to toe the government line and maintaining a fierce independent streak?
The Delhi High Court-appointed observer Justice (Retd) Mukul Mudgal said that a former Deputy Comptroller and Auditor General (CAG) will look after the tender process for the fourth cricket Test between India and South Africa starting next month.
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
This may mean easier access, simplified KYC and documentation requirements, and fewer investment restrictions for a majority of FPIs, especially broad-based funds and pooled vehicles that were earlier part of Category-II.
Government auditor CAG has flagged "undue favour" to Wipro Ltd by UIDAI.
ICICI Bank is looking for Team Leaders and Quality Auditors.
The Comptroller and Auditor General has pulled up the Defence Research Development Organisation pointing out "deficiencies" and "procedural irregularities" committed by it in taking up new projects and splitting sanctions for them to bring it within financial powers of the organisation head.
The fresh remarks made by Comptroller and Auditor General Vinod Rai against the UPA dispensation Friday triggered a war of words, with the government attacking him and the opposition throwing its weight behind him.
Dismissing DAE's reply that most of the items were working satisfactorily, CAG said the department should have analysed all the aspects before ordering for the equipment.
In 2012, Diageo signed a deal to buy stake in USL.
The winter session of the Parliament will begin on November 22, it was officially announced on Friday.
'Why do we make finance ministers go into contortions, to tell us that near 6% is 3.5%?' 'Why not encourage more open and full accounting so that the country knows the real picture,' asks T N Ninan.
Typically these are high-beta stocks and earnings are volatile
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
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