Reserve Bank carried out the investigation and noted the deficiencies which were reflective of weaknesses and failures in internal control mechanisms
People mostly say 'work hard and party harder', but Premji's concept is 'work hard and work harder'. With close to 70 per cent of his wealth pledged to charity, Premji is also the epitome of a true leader who makes a mark in giving back most of his wealth to society.
The latest penalties for insider trading follows an earlier disgorgement order passed by Sebi in July last year.
Amidst rumblings of a crisis within AAP, a letter by its internal Lokpal has pointed to the growth of two camps within the top leadership of the party due to an "abject breakdown in communication and mutual trust" and said it needs to make efforts to address criticisms over inner-party democracy.
The navy said it has taken up the matter with the Directorate General of Armament of the French government expressing concern over the incident.
While the scam highlights the need for an overhaul of the oversight mechanism of banks and of their internal controls, questions are being raised on why multiple audits failed to raise an alarm
Former Indian team captain Bishan Singh Bedi and ex-cricketer Kirti Azad on Thursday batted in the Supreme Court for implementation of Justice Rajendra Mal Lodha committee's recommendation on structural reforms in the Board of Control for Cricket in India.
Infosys, India's second largest information technology (IT) services company, is likely to book an impact of less than $1 million (Rs 6 crore) due to the financial irregularities in the accounts of its business process outsourcing (BPO) arm, which led to the dismissal of the unit's chief financial officer, Abraham Mathews earlier this week.
Infosys is an ethical company with solid processes that respects its customers and this is not going to affect their business, he added.
More than 80 executives participated in the survey that was done from April to June this year.
The Bombay High Court has directed four office-bearers of the Aviation Industry Employees' Guild to resume duties by July 7, in a move that supports Air India's drive against absenteeism.
This was reflected in India Inc's lackadaisical attitude towards sensitising employees on fraud prevention.
Theft, bribery and corruption, and regulatory non-compliance are the top three frauds
The ministry of corporate affairs has raised questions on Etihad's rights to nominate three directors on the board and, despite being a minority shareholder in the company, decide on the vice-chairman.
The CBI also told the court that it has sought Interpol's help in seeking access to overseas bank accounts of the Mukerjeas
Helen Brand offers a CA's view on protectionism, money laundering and how India's implementation of Ind-AS will make it more attractive to investors.
The market intermediaries have also been told to appoint designated directors to ensure compliance with new norms, who would face penal action for any lapses.
The vehicle was carrying cash in new currency notes for wage payment to employees of a tea garden.
State-run Bank of Baroda and Oriental Bank of Commerce are among those facing scrutiny.
PwC one of the big four audit firms, has expressed disappointment at the conviction of two former partners in the Satyam scam.
NSE asks brokers to strictly follow rules for investor funds.
A source said Sebi planned to tag brokers based on their performance on areas such as compliance, investor protection and arbitration.
A lump sum of Rs 100,000 has been offered under the VRS package.
People living near the police station in Dina Nagar largely remained indoors.
Experts say it's not only important to get due-diligence done by an independent firm but it needs to be cross-checked, too.
The Tata group-owned budget hotel chain is going back to drawing board to reboot the brand. Is it too late?
Things don't seem to be good at low fare carrier SpiceJet's office. In past few months, its top rung officers have resigned over differences in opinion with the management.
'You can never bring about a change if you only bring in outsiders. Consultants will never feel what changes are necessary and where,' says Railway Minister Suresh Prabhu.
Diageo, the world's largest distiller, has been focusing on compliance at United Spirits Ltd (USL) after its acquisition of a controlling stake in India's largest spirits maker.
'For years, the RBI has been warning banks on probable frauds in bank guarantees and advised them to exercise due care.' 'PSB staffers feel their jobs are secured, hence there is no need to be vigilant and exercise financial prudence.'
Reforms do happen and one example is Odisha which has taken steps to create a dedicated municipal cadre.
Bain alleges that it invested around $60 mn based on false financial statements that EY had audited and certified
The company has dismissed 194 cabin crew and 11 pilots over past year for unauthorised absence and such reasons.
None of the 2,600 workers had any clue about the suspension of work notice, put up on the gate of India's oldest automobile plant last Sunday.
The tribunal posted the matter for further hearing in December, when it will decide whether to admit the pleas of the Raju brothers and others against Sebi order.
His plan revolves around new products, a renewed thrust on exports and some serious cost savings
Not many people know that today's BPM industry gives specialists great career options.
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