Sports Minister Mansukh Mandaviya said the Sports Bill is a key reform aimed at building a "transparent, accountable and world-class sports ecosystem" in India.
Sebi on Wednesday revised the disclosure requirements for Real Estate Investment Trusts and Infrastructure Investment Trusts, revising norms related to financial information in offer documents and post-listing disclosures. Under the new rules, REITs and InvITs issuing offer documents or follow-on offers must disclose audited financial statements for the last three financial years and a stub period, if applicable, Sebi said in two separate circulars.
The National Sports Governance Bill was on Tuesday passed by the Parliament with Rajya Sabha giving its nod a mere 24 hours after Lok Sabha.
According to reports, an anonymous group that calls itself "ethical employees" have written to the Infosys Board as well as American regulator US Securities and Exchange Commission with the allegations. They have claimed that they have emails and voice recordings to substantiate the same.
The Pakistan Cricket Board (PCB) has claimed to have earned three billion rupees by hosting the ICC Champions Trophy, exceeding its target of two billion rupees.
Assam Chief Minister Himanta Biswa Sarma on Friday alleged that over 5,000 social media accounts, mostly operated from Islamic countries, have become active in favour of the Assam Congress.
Delete posts that are offensive, political, divisive, or just plain immature, counsels Dr Karan Gupta.
The Supreme Court of India has sought the government's response on a Public Interest Litigation (PIL) that challenges the appointment process of the Comptroller and Auditor General of India (CAG), arguing it's unconstitutional. The PIL, filed by the Centre for Public Interest Litigation, claims the current process, solely through executive appointment by the Prime Minister, undermines the CAG's independence and violates constitutional principles. The court, while acknowledging the importance of institutional trust, questioned the extent to which it should intervene in the appointment process and whether this would constitute rewriting constitutional provisions. The PIL suggests the CAG's appointment should be similar to other independent bodies, with a selection committee comprising the Prime Minister, Leader of the Opposition, and Chief Justice of India. The case has implications for the independence and transparency of India's audit system.
Markets regulator Sebi on Wednesday barred former CEO of IndusInd Bank, Sumant Kathpalia, and four other senior officials from accessing the securities markets in connection with an alleged insider trading in the bank's shares. In addition to the market ban, Sebi has impounded Rs 19.78 crore collectively from the five individuals, according to an interim order passed by the regulator.
Experts say, auditors must not allow themselves to be intimidated by the client management into conducting audits by conversation. It is important for auditors to conduct proper interviews and ask probing and searching questions.
Aviation regulator DGCA on Tuesday started the special audit of the facilities of Go First, which has sought approval for restarting operations. A team of officials from the Directorate General of Civil Aviation (DGCA) started the special audit of the facilities of Go First in Mumbai on Tuesday, according to an airline executive. The audit of the facilities will be done on Wednesday also.
Seeking to allay fears that existing Waqf properties will be subject to scrutiny after the amended Waqf law comes into force, a parliamentary panel on Tuesday recommended that no cases will be reopened against such properties on a retrospective basis, provided the asset is not in dispute or belongs to the government.
The Supreme Court of India expressed shock and disappointment at the Indian government's failure to implement the Dam Safety Act, enacted in 2021. The court highlighted the lack of progress in constituting a national committee for dam safety and formulating regulations despite the law's provisions. The case pertains to the safety of the Mullaperiyar Dam, a 130-year-old structure in Kerala, which is controlled by Tamil Nadu. The court has ordered the government to take immediate action and seek assistance from the Attorney General in this matter.
'The IOA has no jurisdiction over the conduct of elections for NSFs, yet this order has been issued in a manner that clearly questions its intent.'
The 4.5 kilometre-long Silkyara tunnel project in Uttarakhand, which is part of the central government's strategic 900-km 'Char Dham Yatra All Weather Road', will continue after the necessary safety audit and repair of the broken structure, a senior road ministry official said on Wednesday.
Gensol Engineering, the beleaguered firm that came under market regulator Sebi's lens for fund diversions and governance lapses, said that its independent director Arun Menon has resigned with immediate effect.
The Confederation of Indian Industry (CII) on Sunday urged Indian startups to keep their valuation "realistic" and distinguish between the goals of the organisation and its founder. "Startups may strive for long-term value creation rather than short-term valuations. "The valuations of businesses should be kept as realistic as possible," CII said in its Corporate Governance Charter for Startups.
In an attempt to avoid Satyam-like frauds, a Sebi panel has suggested rotation of audit partners signing the accounts and giving more teeth to the company's audit committee.
The findings of the audit into irregular IPL and Champions League bonuses allegedly paid to Cricket South Africa staff, including CEO Gerald Majola, have been delayed by a week.
The Union Budget 2025-26 has allocated over Rs 1,400 crore to the law ministry to meet carry forward expenditure for holding the 2024 Lok Sabha elections and purchase of new electronic voting machines for the Election Commission. The allocation includes Rs 500 crore for the elections, Rs 300 crore for voter identity cards, Rs 597.80 crore for "other election expenses", and Rs 18.72 crore for new EVMs. The law ministry is the nodal agency for the Election Commission, polls, electoral laws, and appointment of members to the poll panel.
The chartered accountants body ICAI on Tuesday constituted a six-member special committee to look into the auditing of crisis-hit Satyam Computer, whose disgraced founder chairman Ramalinga Raju has confessed to fudging accounts.
Aviation watchdog DGCA will conduct a special audit of grounded airline Go First's facilities in the national capital and Mumbai from July 4 to 6 before approving the revival plan for resumption of flights, according to a senior official. Cash-strapped Go First stopped flying on May 3 and is undergoing a voluntary insolvency resolution process. Meanwhile, a senior executive at the airline expressed hope of resuming ticket sales -- which was paused by DGCA following the grounding of the carrier -- from July 7 or July 8 and subsequent relaunch of the operations from middle of next month.
The Union home ministry has recommended the special CAG audit taking note of a May 24 letter by Lieutenant Governor V K Saxena which pointed out 'gross and prima facie financial irregularities' in the 'reconstruction' of the chief minister's official residence, they claimed.
'Brigitte Henriques calls on all members of the sports movement to remain mobilised on the essential and paramount objective: the full success of the Paris Olympic and Paralympic Games in 2024.'
An Income-Tax Department internal committee reviewing the old direct tax law to pave the way for a new one has "largely" received suggestions for "simplifying" the language, better "structuring" the provisions and enlarging the ambit of schemes like presumptive taxation, CBDT chairman Ravi Agrawal said Sunday. Speaking to PTI during a post-Budget interview at his North Block office, Agrawal said the panel also "studied" the deliberations and processes of countries like the UK, Australia and some others where a similar tax law simplification exercise was undertaken.
The report on the alleged liquor scam, a hot button issue in the run-up to the elections, claimed a loss of revenue to the tune of Rs 941.53 crore, saying timely permissions were not taken for opening the liquor vends in non-conforming municipal wards.
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
The West Bengal government has suspended 12 doctors of Midnapore Medical College and Hospital for negligence following the death of a woman and four others falling ill after childbirth. The incident is alleged to have been caused by the administration of 'expired' intravenous fluid. Chief Minister Mamata Banerjee announced a compensation of Rs 5 lakh and a government job to the family of the deceased woman.
Before resigning as an auditor of an Adani Group firm, Deloitte had sought an independent external examination of allegations made by a US short-seller but the company said the allegations had no effect on financial statements and the reasons cited for quitting were not convincing to warrant such a move. In a 163-page filing with stock exchanges relating to Deloitte Haskins & Sells LLP's resignation, Adani Ports and Special Economic Zone (APSEZ) said that in meetings with its leadership, Deloitte indicated concern over a lack of a wider audit role as auditors of other listed Adani companies. However, the firm conveyed to the auditor that it was not within its remit to recommend such appointments as other entities are "completely independent".
Byju Raveendran, CEO and founder of the eponymous edtech giant, has told shareholders that the company will set up a board advisory committee (BAC). This was part of a discussion on July 4 with shareholders at an emergency general meeting (EGM). Raveendran also said that in the next EGM in three weeks will give details about BAC's members and composition.
Payouts to key management personnel in non-banking financial companies (NBFCs) are under the banking regulator's scrutiny. Top industry officials said this is a follow-through on the Reserve Bank of India's (RBI's) circular of April 29, 2022, which asked NBFCs in the "middle" and "upper" layer of its four-tiered scale-based regulatory (SBR) framework to put in place a board-approved compensation policy.
Byju's audit firm BDO had suggested backdating of reports, which the company refused, and their resignation is more of optics, a top official of the edtech firm alleged on Saturday. Speaking on the resignation of BDO as its audit firm, Byju's CEO Byju Raveendran told PTI that the auditors are the first to know about insolvency proceedings but they did not inform about it to the court-appointed insolvency resolution professional (IRP). "They have asked us to do multiple backdating of reports.
They stated that when a soldier fights for the nation, he does so not as a Hindu, Muslim, or any other religion, but as a patriot.
The Supreme Court on Wednesday declined a plea filed by Padmanabhaswamy Temple Trust seeking to exempt it from the audit of 25 years as ordered by the top court last year.
Opposition MPs in the parliamentary committee scrutinising the Waqf (Amendment) Bill are scheduled to meet Lok Sabha Speaker Om Birla on Tuesday to protest its chairperson Jagdambika Pal's alleged 'unilateral' decisions and attempts to 'bulldoze' proceedings, indicating that they may disassociate themselves from the panel.
FIFA's disciplinary committee will be asked to look into allegations of discrimination raised by the Palestinian Football Association (PFA) after it submitted a proposal to suspend Israel in May, world soccer's governing body said on Thursday.
Senior bankers anticipate discussions on issues related to technology, cyber security, and customer protection.
'Najam Sethi tweets at 2 in the night that Ramiz Raja is out. Is this respect for a former captain? I was not even allowed to go to the office and collect my belongings.'
IOA president P T Usha on Sunday slammed the revolting executive council members, saying they 'seem more focused on self-serving power play and monetary gain'
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