With the Opposition targeting the government over Comptroller and Auditor General report on coal allocation, Prime Minister Manmohan Singh is geared up to rebut in Parliament the charges, contending that there were 'inaccuracies' in the 'misleading' assessment of loss of Rs 1.85 lakh crore.
The Bharatiya Janata Party on Wednesday said it will continue to mount pressure to demand resignation of Prime Minister Manmohan Singh and the government on the issue of CAG report on coal block allocation, in an indication that Parliament is likely to be stalled for the second successive day.
Union Minister Rajiv Shukla was on Tuesday caught in a controversy as he was heard telling Rajya Sabha Deputy Chairman P J Kurien to adjourn the House after the opposition created uproar over Comptroller and Auditor General report on coal blocks allotment to private firms.
The Comptroller and Auditor-General's report on the Delhi International Airport Ltd (DIAL) as a public-private partnership (PPP) project makes several valid points, but presents a seemingly factual but fundamentally misleading picture of the total financial outcome.
Reliance Industries on Wednesday assailed reports of the Comptroller and Auditor General and expert P Gopalakrishnan, which have alleged the company got undue benefits pertaining to Krishna-Godavari basin gas and its pricing.
With the Comptroller and Auditor General reports on three critical sectors expected to be tabled in Parliament on Friday, Prime Minister Manmohan Singh has indicated that the government will effectively counter any Opposition attack on these issues.
Obstinate attitude by BCCI president Anurag Thakur and secretary Ajay Shirke is putting the entire "England series in jeopardy" said a source close to the Supreme Court appointed Justice RM Lodha panel. While BCCI is yet to sign MoU with ECB regarding the clause including the financial aspects related to the series citing non-appointment of auditor, the source made it clear that the England Test series will be in a limbo if Thakur and Shirke don't file their compliance report and appear in person before the panel.
The Board of Control for Cricket in India has written to the five associations who are to stage Test matches between India and England whether they will be able to undertake the expenses of hosting them "as a precautionary measure," BCCI sources said on Wednesday.
The Comptroller and Auditor General has come down heavily on the Department of Space, particularly on its former Secretary G Madhavan Nair, in the controversial Antrix-Devas deal alleging numerous rules and policies were violated and facts concealed to favour a private company.
In 2015, Infosys, under the leadership of then CEO Vishal Sikka, had bought Israeli automation technology firm Panaya for around $ 200 million and e-commerce service provider Skava for $1 20 million. The buyouts were mired in controversy owing to allegation of over-payment apart from not being an ideal fit.
The curious dealings of Robert Vadra have become even more curious, with a bank mentioned in the balance sheet of one of his companies denying it ever undertook a transaction clearly stated in the firm's auditor's report.
DLF extends fall on corporate governance issues, down 10% in two days DLF is trading lower by 2.2% at Rs 219, extending its previous day's over 7.4% after Arvind Kejriwal, a social activist-turned-politician has accused the real estate developer of favouring Robert Vadra, son-in-law of Congress chief and the UPA Chairperson Sonia Gandhi, with easy loans for some undue gains.
Audit firm points out that the accounting rules do not permit companies to give interest-free loans even to their subsidiaries.
The company had initially objected to audit by CAG for time barred years as per Production Sharing Contract and had not accepted the 'exceptional circumstances' advanced by the ministry
Vicky Nanjappa accessed the CAG report on illegal mining in Karnataka and finds out that the in the face of losses worth thousands of crores, the state administration had only been able to recover just Rs 7.22 crore
Observing that the "CAG is not a munim (accountant)" the Supreme Court on Monday dismissed a plea challenging the Comptroller and Auditor General's power to conduct performance audit of controversial allocation of coal blocks by the UPA government.
'The EC is a sacred institution.' 'In the last few years, more than once, we have found the EC bending over backwards to accommodate the government.'
The Comptroller and Auditor General (CAG) is understood to have questioned the government's reasoning to order 111 planes for Air India for almost Rs 50,000 crore (Rs 500 billion) in 2006.
Chief Justice of India S H Kapadia on Saturday said loss is a matter of fact and profit and gain is a matter of opinion, remarks that came against the backdrop of raging controversies over valuation of natural resources.
Against the backdrop of claims made by a former Comptroller and Auditor General official on its report on 2G spectrum, the government on Monday favoured a discussion in the Lok Sabha on the "serious" matter.
Former Comptroller and Auditor General official R P Singh, who has stirred a controversy, has rejected the allegations that the Congress has put him up to defend the government on the audit report on 2G spectrum allocation which had estimated the presumptive loss of Rs 1.76 lakh crore.
Softening its stand on CAG audit, Reliance Industries has agreed to a scrutiny of its expenses in the flagging KG-D6 gas block by the official auditor even after expiry of the contractual period.
Most listed corporate entities in the country are in a fix. With the sudden declaration in late March of a nationwide lockdown to tackle the Covid-19 pandemic, the final calculations of their financial results for the year 2019-20 (FY20) are hanging in limbo. Till April 19, only 41 of the 3,947 companies listed on the BSE have managed to finalise the dates for the declaration of their yearly financial results.
Amid allegations and counter-allegations over the Comptroller and Auditor General's figure of presumptive losses in 2G allocation, Union Information and Broadcasting Minister Manish Tewari on Saturday demanded that the CAG explain the issue to clear the air over the matter.
Lawyer Prashant Bhushan is likely to approach the Supreme Court next week to seek cancellation of the controversial allocation of coal blocks and an independent probe on the lines of the 2G spectrum allocation case he had filed. Bhushan said he is collecting documents regarding the coal block allocation, which the Comptroller and Auditor General has found fault with, and preparing a detailed complaint.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
Close on the heels of his indictment by the Comptroller and Auditor General, Maharashtra minister Chhagan Bhujbal has come under the lens of the office of the Charity Commissioner which has ordered inspection of a building owned by his family-run trust for violation of rules.
After attacking the Comptroller and Auditor General, Union Minister of State in PMO V Narayanasamy Sunday demanded an apology from Bharatiya Janata Party for "misleading" the people that the 2G spectrum allocation in 2008 had resulted in a loss of Rs 1.76 lakh crore to the exchequer.
The Bharatiya Janata Party on Tuesday targetted Union Minister Vilasrao Deshmukh for his alleged involvement in illegal land allotment to a prominent movie producer and demanded that he should be sacked if he does not step down immediately.
The Comptroller & Auditor General of India has castigated the Maharashtra government for alleged irregularities in the sale and allotment of land in the past eight years, resulting in loss to the exchequer.
The minister joined other Congress leaders in questioning the CAG for the estimated loss, in the wake of the current auction.
Indira Awaas Yojana, a social welfare programme started to provide homes to the poorest of the poor, has fallen prey to rampant corruption in Bihar, the latest Comptroller and Auditor General report has said.
The Comptroller and Auditor General on Tuesday declined to join a public debate on the controversies over its findings on the coal blocks allocation, which have come under attack from Prime Minister Manmohan Singh, the Congress and critics.
Congress general secretary Digvijay Singh took a dig at Comptroller and Auditor General Vinod Rai on Thursday asking why does he not stop leak of reports from his office, a day after the latter deprecated the "brazenness" with which the decisions were being taken by the government.
Delhi airport has been losing money for the past six years because of the heavy interest burden on loans.
Communist party of India-Marxist leader Brinda Karat on Sunday said the letter from the Prime Minister's Office to Team Anna defending corruption allegations against Prime Minister Manmohan Singh does not give any clarity on the matter.
The United Progressive Alliance government in its robust defence has rubbished Comptroller and Auditor General's charges against the allotment of coal mines and its estimate of losses to the exchequer.
Even as the Bharatiya Janata Party paralyses Parliament on the allocation of coal blocks by the Centre, its own government in Chhattisgarh had come under attack from Comptroller and Auditor General for allocating coal blocks at 'abnormally low' rates that led to a loss of over Rs 1,052 crore.
Reliance Industries on Saturday said it had never contested the government's right to get the company's spending on KG-D6 gas fields audited by the Comptroller and Auditor General but hoped it will not be subjected to a performance audit."RIL has at no time contested the government's right to conduct an audit by any agency, including the CAG, as provided in Section 1.9 of the Accounting Procedure of the PSC," the company said in a statement on Saturday evening.
The auditor said that it has unfettered right of access to all records of Reliance Industries (RIL) during its audit of operations in the Krishna-Godavari basin and would override any conditions sought to be imposed on the process.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances