With the Lodha Committee seeking direction from the Supreme Court on appointment of former Union Home Secretary GK Pillai as observer to "guide" BCCI, the top brass of the board are unaware as to how the process of awarding nearly 100 pending tenders will be carried out.
The Supreme Court on Monday refused to entertain a Public Interest Litigation challenging the appointment of Shashi Kant Sharma as the Comptroller and Auditor General of India.
Maharashtra CM said a high-level committee will probe the circumstances under which the 40-year-old overbridge collapsed.
In fact, the ministry of corporate affairs announced that role of directors and auditors at Satyam will be scanned by ICAI and the apex body of company secretaries.
The Institute of Chartered Accountants of India (ICAI) is likely to take disciplinary action against two Pricewaterhouse Coopers (PwC) auditors who were involved in auditing the account books of erstwhile Satyam Computers.
'Today, according to the law, you can't even claim legal expenses when fighting a case as a non-executive director unless you are acquitted. Given how high legal expenses are, that alone is enough to scare anyone away.'
Joshi was again nominated by his party following which Lok Sabha Speaker Meira Kumar has reappointed him as chairman of PAC which is responsible for conducting the financial audit of various departments and ministries.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
FIFA's Sepp Blatter may have been banned for eight years from the game but he is still receiving his president's salary from world soccer's governing body, a spokesman for FIFA's Audit and Compliance Committee told Reuters on Monday.
As per the RBI Act, the central bank should have four deputy governors - two from within the ranks and one commercial banker and the fourth one an economist to head the monetary policy department.
When the third round of bids was opened, Oaktree's offer was the highest, but with several riders. While Piramal offered higher upfront cash and offered to merge its financial business with DHFL, Adani was ranked third in the race, reports Dev Chatterjee.
The panel suggests the government be authorised to raise the thresholds, which trigger applicability of Corporate Social Responsibility provisions.
The chiefs of Army, Navy and Air Force have been called on January 12 by the PAC for a hearing on the committee on Canteen Stores Department based on the audit report, which has pointed out irregularities in the supply chain management of rations in the Army.
Air India's former executive director Jitender Bhargava feels the airline should oppose the Tata-Singapore Airline plan to set up a hub in Delhi.
FAA had downgraded India's safety ranking from category-II from -I after an audit revealed deficiencies in regulatory oversight.
His appointment will be effective from the date he assumes charge of his office, an official statement said on Monday. An Indian Administrative Service officer of Kerala cadre, 1972 batch, Rai will take over from V N Kaul.
Comptroller and Auditor General Vinod Rai on Monday briefed the Public Accounts Committee about his report in the 2G spectrum allocation. His report on a presumptive loss of Rs 1.76 lakh crore in 2G spectrum allocation had created a storm in Parliament and outside. The PAC, headed by Bharatiya Janata Party veteran leader Murli Manohar Joshi, is examining the controversial allocation of 2G radio waves and Rai apprised the committee of how the audit looked into the whole issue.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
'We started analysing young patients and realised that they had causes like undetected diabetes, which suddenly flares up during COVID-19.' 'Secondly, hypothyroidism was one of the factors.' 'And obesity.'
Nearly $1 million in funds from soccer's global governing body FIFA may have gone missing from Guatemala's soccer federation last year, according to sources and an internal audit seen by Reuters.
A marathon session of over a dozen hearings on implementation of Justice Rajendra Mal Lodha panel recommendations on structural reforms in the Board of Control for Cricket in India came to an end on Wednesday in the Supreme Court, which took the Indian cricket board to task over issues like fund utilisation and avoiding of performance audits.
'The Democrats have stacked the deck against President Trump and the Republicans. They have leaked out everything,' Trump said in a series of tweet.
India has been elected to the newly established Independent Audit Advisory Committee, a five-member body which is expected to contribute to improving the accountability of the UN Secretariat to the member states.
'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.'
"For the Lok Sabha elections, we are making meticulous planning on all fronts including electronic voting machines (EVMs) and the voter verifiable paper audit trail (VVPAT)," he said.
'We are going to have plane crashes left, right and centre.'
The most positive development over the last 60 years is the political empowerment of disadvantaged groups, introduction of the committee system and better policing of members. However, we still need to address the issue of dysfunctionality of Parliament, MPs' disdain for law making and the absence of periodic audit of the working of Parliament by independent citizens, says A Surya Prakash.
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
The Japanese Olympic Committee on Wednesday established a team to investigate whether any illegal payments were made during its successful bid for the Tokyo 2020 Olympics.
India on Friday won a crucial election to the UN Board of Auditors with its nominee Shashi Kant Sharma, the Comptroller and Auditor General, garnering the largest number of votes.
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
The departing directors had criticised the club's handling of a social media scandal and expressed doubts about the board's ability to handle the implications of the COVID-19 pandemic, which has led to a 70% players' pay cut.
IAC activist Arvind Kejrival yesterday claimed that Jaipal Reddy was shunted out of petroleum ministry due to his opposition to gas price revision.
China's National Audit Office said the country's sports authorities have since 1999 misused yuan ($15.8 million) earmarked for the 2008 Olympics.
The move is aimed at making it easier to do business in India.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
News of all that's transpired on and off the football field
The 2G controversy rocked Parliament's Public Accounts Committee meeting in New Delhi on Monday with opposition parties demanding that former director general (Audit) R P Singh be summoned and asked why he differs with the Comptroller and Auditor General on the quantum of loss. With differences persisting, the meeting was adjourned. The meeting scheduled for Tuesday has also been postponed reportedly as Chhath festival falls on that day.
Amidst a debate on controversies surrounding some of the Comptroller and Auditor General reports, the high level committee that went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three-member body.
