A common feature in India is the lag between the occurrence of frauds and the time they are actually reported.
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.
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.
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
'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 new trains should be fast, but the roll-out of the privatisation plan should be slow and well-considered,' recommends T N Ninan.
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".
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.
It said Air India "accepted" that though the number of flights from Delhi "increased substantially.
The move is aimed at protecting investors from parking their money in dubious schemes.
The probe gave a clean chit to the tax department that was being alleged to have harassed Siddhartha.
The auditors, B K Ramadhyani & Co, questioned the accounting method used by the airline to calculate costs incurred on maintenance and repair of aircraft.
Every third child in Gujarat is underweight, says the CAG
Days after the fraud allegedly masterminded by diamantaire Nirav Modi came to light, the prime minister asked the management of financial institutions as well as the supervisory bodies to do their job diligently to check such frauds.
Special court will announce judgement in Satyam case on Dec 23.
Gandhi claimed that if a JPC probe was conducted, names of PM Modi and businessman Anil Ambani will come to the fore.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
More than 1,000 independent directors have quit since January 2017; more could be on their way out
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.
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 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.
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.
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.
ICICI Bank is looking for Team Leaders and Quality Auditors.
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.
Niira Radia had said friends in high places enabled favourable EGoM decision on Sasan coal diversion, a charge staunchly denied by Reliance Power.
Jaitley assured the Lok Sabha amid the ongoing standoff between Indian and Chinese military in the Doklam area.
The agency did not seek a reappointment in FY12.
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?
Raju was arrested by the Crime Investigation Department of Andhra Pradesh Police two days later along with his brother.
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 auditor will also investigate into the circumstance under which Coffee Day Enterprises late founder V G Siddhartha had written the purported letter dated July 27, 2019, alleging harassment by the Income Tax department.
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.
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.
'Perhaps GST was too complex a system for the Indian economy at its present stage of development,' argues T N Ninan.
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?
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.
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