Dubai-based billionaire BR Shetty has sued Bank of Baroda (BoB) and audit firm Ernst & Young (EY) in a New York court, accusing them of ignoring fictitious and fraudulent transactions that resulted in NMC Healthcare going bankrupt. Shetty is seeking $8 billion in damages in the suit that also names the top management of NMC Healthcare, and Netherlands-based Credit Europe Bank. A top NMC Healthcare official confirmed the development to Business Standard and said despite several meetings, senior BoB officials in India did not take remedial steps for fear of getting involved in an international ponzi scheme perpetrated by then senior management officials.
"We were not given to understand by any party, explicitly or implicitly, during the valuation exercise about Satyam's plans to acquire Maytas Properties," an Ernst & Young spokesperson informed Business Standard by e-mail.
RRVL will make an open offer to acquire up to an additional 2.17 crore equity shares of Just Dial, representing 26 per cent stake, in accordance with Sebi Takeover Regulations, a regulatory filing said.
The NBA sides Sacramento Kings and Indiana Pacers will play two pre-season games on October 4 and 5 in front of students under the Reliance Foundation Jr NBA programme.
The 78-year-old veteran Democrat leader was administered the oath of office by Chief Justice John Roberts at the West Front of the Capitol -- the traditional location for presidential inaugural ceremonies where the deadly violence took place just two weeks ago.
Ernst & Young said that the report, prepared on the basis of a survey of 1,000 entrepreneurs across the G-20 nations, has substantiated India's premier position as an emerging hub for entrepreneurial activity and innovation.
US President Donald Trump does not have plans to immediately concede the election to Joe Biden after his Democratic rival pulled ahead in key states that could deliver him enough electoral votes to win the race for the White House, a senior aide of the president was quoted as saying by a media report on Friday.
Citing the figure of 500,071 dead in the US, Biden said, "that's more Americans who've died in one year -- this pandemic -- than in World War I, World War II and the Vietnam War combined.
The US intends first to cripple the Afghan government financially through sanctions, freezing of assets, denial of access to international banking, etc, and then proceed to do pretty much what it wants to do with scant regard for Afghanistan's sovereignty, predicts Ambassador M K Bhadrakumar.
The mobile payments market has gained traction in recent years, because of factors such as higher penetration of handsets in comparison to coverage of population with banking services and benign regulatory environments.
Beijing's growing assertiveness as kingmaker in Kabul has suffered a setback with Washington quietly moving in, observes Ambassador M K Bhadrakumar.
Barack Obama recently unveiled his list of 19 favourite books from 2019.
Everyday consumerables, such as grocery and order-in food items are the key buyout sector, analysts say, and a major reason for kirana stores' digitisation push.
African-American George Floyd's death on May 25 has sparked civil unrest that has since spread nationwide.
Scenes from Inauguration Day in Washington, DC as Joe Biden is sworn in as the 46th president of the United States.
New York prosecutors are poised to file civil fraud charges against Ernst & Young.
Six sectors, including healthcare and realty , are expected to create a whopping 2.3 lakh jobs in India in the last three months of 2010, according to global consultancy Ernst & Young .
An estimated 16 crore people casting their votes in a presidential election is a record in itself in terms of turnout after 1900, according to Michael P McDonald, Associate Professor of Political Science at the University of Florida, who leads the US Election Project that tracks early voting.
The 1st article of impeachment, abuse of power, was on party lines with 230 to 197 votes, while the 2nd, obstruction to the Congress, was voted 229-198.
The highly-anticipated summit, which began early Tuesday, is the third engagement between Xi, 68, and Biden, 78, since February.
Cadbury shareholders opposed valuation of shares based on the report prepared by Independent Valuers M/s Bansi Mehta and Co and M/s SSPA and Co which arrived at Rs 1,340 per share, IGF counsels Chandu Mehta and Darshan Mehta told PTI.
The popular Indian-origin comic faced a lot of heat on social media for his episodes on Indian elections and the clampdown in Kashmir after the abrogation of Article 370 ahead Indian Independence Day.
Improvements in the labour market has triggered this sentiment.
Briton's Paralympic champion David Weir became the first wheelchair athlete to complete a mile in under three minutes on Sunday.
Instability in policy regime makes the business scenario uncertain for both national oil companies and international oil firms, Ernst and Young said in its business risk report. The oil and gas sector has been impacted globally by the economic downturn, which has created new risks for the industry threatening the near-term survival and prospects of a number of oil and gas companies, according to The 2009 Ernst & Young business risk report.
Nine days after the death of George Floyd, protesters are still out on the streets of major cities across America, even with curfews now in place. The 46-year-old was killed when a white police officer kneeled on his neck for nearly nine minutes while he lay handcuffed and pinned to the ground gasping for breath on May 25. As per latest reports, Floyd, the African-American had tested positive for the coronavirus in April, according to the medical examiner's report. Meanwhile, a Minnesota court has upgraded the charges against former Minneapolis police offcer Derek Chauvin who pressed his knee into George Floyd's neck to second-degree murder and three other officers present during the incident have been charged with aiding and abetting murder. Soon after, Floyd's family issued a statement, saying, "This is a bittersweet moment. We are deeply gratified that @AGEllison took decisive action, arresting & charging ALL the officers involved in George Floyd's death & upgrading the charge against Derek Chauvin to felony second-degree murder." Former United States President Barack Obama too held a livestream event in which he urged young people to "stay hopeful" and take action. "Just remember, this country was founded on protest," he said. Raising his voice against the US president, former secretary of defense James Mattis slammed Trump as "the first president in my lifetime who does not try to unite the American people," in a forceful rebuke of his former boss. "We are witnessing the consequences of three years without mature leadership," he said.
A forensic audit has found possible 'irregularities and mismanagement' in advances and investments made by Mangalore Chemicals and Fertilizers to his other group companies.
Trump was good for world peace. He didn't start a war anywhere, which is not something that can be said for most of his predecessors, observes Ambassador M K Bhadrakumar.
Justin Rose, who withdrew from his last start a month ago with back spasms, kicked off his torrid run at the par-five eighth where he made eagle after his approach shot from 275 yards bounced off a greenside slope and settled nine feet from the cup.
'A lot of people who quit felt they have been in the organisation for way too long and needed a better or challenging career role to advance in their careers.'
Global financial consultancy firm Ernst and Young wants the personal income tax slabs to be raised to a reasonable level as the lowest bracket "kicks in too early".
Ricardel is believed to have entered into confrontation with the first lady's staff during her trip to Africa last month.
Considering that Qatar is a trusted ally of Washington for decades, it is expected to be a steady influence on the Taliban leadership, observes Ambassador M K Bhadrakumar.
On January 11, E&Y had said in a statement that 'we would like to again clarify that we were not engaged by Satyam Computer Limited or any of its subsidiaries to conduct the valuation of Maytas Properties and learnt of the proposed Maytas/Satyam transaction after it was announced publicly."
Chinese Foreign Ministry spokesperson Hua Chunying, known for fiery retorts against the US, welcomed Biden's first moves to join the Paris Climate Accord and the World Health Organisation (WHO) which was trashed by Trump as a puppet of China over its conduct to deal with the COVID-19.
Former United States President George W Bush campaigned for his younger brother for the first time on Monday night.
'We built it in the last three years and then one day, they came and they said you have to close it'
United States President Donald Trump offered a message of unity on Sunday as he called on the Arab world to confront extremism during a highly anticipated speech in the birthplace of Islam.
Identifying Indian youth as engine for growth of retail sector, global professional services firm Ernst & Young said on Friday they offered a huge consuming audience for lifestyle and luxury products.
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