'If the BJP seriously addresses employment, examination integrity and systemic corruption, they might salvage their position. Otherwise, they are heading toward serious trouble in 2027.'
Godfrey Phillips executive director Samir Modi has lodged an FIR in New Delhi's Sarita Vihar police station, alleging that her mother Bina Modi and Lalit Bhasin, one of the company's board members, orchestrated an assault on him during the board meeting. It further exacerbated the ongoing feud among the late KK Modi's family members over the distribution of the Rs 12,000 crore inheritance. Bina is also the director of Godfrey Phillips.
IOC resumes funding to IOA after "corrective measures" to resolve disputes and governance issues
The Supreme Court acknowledged a clean chit from a special investigation team (SIT) regarding the Vantara zoological rescue and rehabilitation centre in Gujarat's Jamnagar, following allegations of irregularities.
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.
Stock exchanges' levy of penalties, ranging from Rs 3 lakh to Rs 12 lakh, on public-sector undertakings (PSUs) for lapses in board composition for the 2024-25 October-December quarter has brought forth issues of governance. Last month, 16 PSUs requested bourses to waive these penalties, arguing that these lapses were neither due to negligence nor within their control, as the appointment of directors is managed by the government.
Aviation regulator DGCA plans to implement measures to control excessive air ticket price increases, following concerns raised during a parliamentary panel meeting. The meeting also addressed air safety issues in light of the Ahmedabad plane crash.
'Experts and stakeholders have raised concern over the refund provision in the draft Bill. That was a drafting error, which will be rectified,' a government official said.
Salient features of the National Sports Governance Bill that promise to overhaul several aspects of sports governance and the grievance redressal system for athletes and administrators alike in the country.
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.
In what can be construed as a relief to the BCCI, the Sports Ministry has amended the RTI-related provision of the National Sports Governance Bill, placing only those bodies under its ambit which rely on government grants and assistance.
'Sanju was playing because Shubman and Yashasvi were not available at that point (and) so was Abhishek. (But) Abhishek's performances clearly make it hard to leave him out. Plus, his bowling (left arm spin) is handy.'
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
Delete posts that are offensive, political, divisive, or just plain immature, counsels Dr Karan Gupta.
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 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.
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.
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.
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 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.'
'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.'
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 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.
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".
'We found certain banks having lakhs of such accounts with apparently no valid reason.'
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.
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.
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.
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