From Ranbaxy to Religare, Aashish Aryan takes you through a maze of legal cases involving Malvinder Mohan Singh and his younger brother Shivinder Mohan Singh. Both are in police custody following a complaint of fund siphoning.
Based on a complaint by the legal head of the company Abhishek Parsheera, a case under various IPC sections including criminal breach of trust and cheating was registered against the two.
This is your chance to work with one of India's largest banks.
The big thing was inflating the revenue of the company through fake invoices.
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.
Jet Airways would have four directors on the board; there would be seven independent directors as well.
RBI deputy governor, K C Chakrabarty had also said that there was no money laundering involved as alleged by the Cobrapost.
VVIP chopper scandal-hit Italian defence giant Finmeccanica has delayed publication of its 2012 results following the bribery probe into its Rs 3,600 crore deal with India and has increased the number of members in its surveillance body.
Trump told reporters that his administration will not tolerate firing of hardworking Americans in pursuit of cheap foreign labour.
The company management remained tight-lipped about the resignations, but indicated there was nothing unusual in these movements.
Infosys now plans to re-purpose Skava's micro services-based business and re-focus Panaya's suite of products.
The defence ministry's Controller General Defence Accounts has questioned the army for procuring ration for 14 lakh personnel during 2010-11 while its actual strength is only about 11.5 lakh.
An internal audit report ordered by the defence ministry has raised questions over the functioning of the DRDO and the grant of Rs 2.8 crore by its chief V K Saraswat to a society under him.
Mahindra will serve as a mentor and sounding board for the managing director on issues to be presented to the board, especially in the areas of strategic planning, risk mitigation and external interface. In addition, he will be available to provide feedback and counsel to the managing director on key issues facing the enterprise.
Institute of Chartered Accountants of India has sought broad-ranging information about the association of its member institutions with foreign auditing firms.The move assumes significance following the accountancy fraud by the promoters of Satyam Computers that brought the role of auditors under scrutiny. The auditors concerned were associate firms of international auditing entity PricewaterHouseCoopers.
CBI and Enforcement Directorate are probing the huge remittances to Hong Kong from the bank.
With auditing under the scanner and two of the Big Four firms stopping non-audit services for audit clients, auditors will now be subjected to a more stringent standard of reporting.
The new timings will be updated in the November timetable of the railways.
The problem here is that internal auditors are good at accounts, but they are not trained to track foreign exchange transactions
The CBI, which has already filed its chargesheet, is preparing to file a supplementary chargesheet. It has time till the end of this month for this.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
Insurers, mostly private ones, are opting to cancel mediclaim, marine and cargo cover at a later stage due to adverse claims ratio. In order to grab market share, they have not been pricing the product correctly. Sources said that ICICI Lombard has asked L&T to pay additional premium for the group mediclaim policy in the middle of the year. When contacted, L&T said that ICICI Lombard has requested for extra premium but has not sent any notice.
"We have to improve the institutional framework of companies... (and) need to give more powers and authority to independent directors. Also, the regulations should be enforced much faster," said Infy board member T V Mohandas Pai. Noting that the Satyam case is an aberration and unlikely to affect the domestic IT industry, Pai said the law needs to be amended to ensure that auditing standards are enforceable.
The New York Times quoted the officials as saying that Karzai was moving toward accepting the findings of an international audit that stripped him of nearly a third of his votes in the first round, leaving him below the 50 percent threshold that would have allowed him to avoid a runoff and declare victory over his main rival, Abdullah Abdullah.
Is the RBI unable to accept with grace that beyond 55, one can have the ability to head the compliance functions in a bank, asks Tamal Bandyopadhyay.
In order to plug the loopholes that allow foreign audit firms to do surrogate audit practice in India with their Indian associates, the Institute of Chartered Accountants of India (ICAI), the apex body to regulate the chartered accountancy profession in the country, has issued notices to 12 CA firms that have tie-ups with foreign firms.
Even as India Inc talks of increasing corporate governance norms after the Satyam scam, a study by global consultancy firm Ernst & Young has said that more than half of the companies surveyed do not take into account risk of frauds in their annual audit plans.
DiPiazza's visit coincides with Price Waterhouse suspending two of its partners -- S Goplakrishnan and Srinivas Talluri -- who worked on the accounts of scam-hit Satyam Computer Services and were arrested last week.
The army has ordered a departmental inquiry by a three-member team led by a brigadier-level officer into the activites of Lt Col S P Purohit arrested for his alleged involvement in Malegaon blasts.
The top three industries in India susceptible to economic crimes are financial services, manufacturing and professional services
Interestingly, these recovery officers do not have the power to reduce the amount stated in the order issued by the presiding officer. The annual review was published "to point out irregularities or deficiencies which need the immediate attention of the Heads of Departments", S M Kumar, chief controller of accounts, said in the review for 2007-08.
What's required is proper implementation of the rules and better coordination between market intermediaries such as stock exchanges and clearing members who play a key role in monitoring brokerages.
Accounting firm, Ernst and Young auditing the UN World Intellectual Property Organisation has cleared it of allegations of corruption.
Tata Motors Limited is looking for finance professionals.
'These firms do not contravene provisions of Chartered Accountants Act, 1949, which bar members of the countries not allowing Indians to practice accountancy in their jurisdiction to become chartered accountants in India,' said the committee, headed by Anurag Agarwal, a joint secretary in the ministry of corporate affairs, and such Indian audit firms cannot be equated with multi-national corporations.
ICAI has also imposed a fine of Rs 5 lakh on each of the three accused in Satyam case.
Axis Bank dismisses 24 staffers, suspends 50 accounts after I-T raids
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances