A marathon session of over a dozen hearings on implementation of Justice Rajendra Mal Lodha panel recommendations on structural reforms in the Board of Control for Cricket in India came to an end on Wednesday in the Supreme Court, which took the Indian cricket board to task over issues like fund utilisation and avoiding of performance audits.
'We are going to have plane crashes left, right and centre.'
India has been elected to the newly established Independent Audit Advisory Committee, a five-member body which is expected to contribute to improving the accountability of the UN Secretariat to the member states.
The ED case follows the police complaint for alleged criminal conspiracy and defrauding investors.
The departing directors had criticised the club's handling of a social media scandal and expressed doubts about the board's ability to handle the implications of the COVID-19 pandemic, which has led to a 70% players' pay cut.
As and when Jet Airways applies for slots, these would be allocated among all airlines according to guidelines, without any claim of historicity in favour of any airline. Slots would be given to Jet only from the available remaining pool.
"For the Lok Sabha elections, we are making meticulous planning on all fronts including electronic voting machines (EVMs) and the voter verifiable paper audit trail (VVPAT)," he said.
'Four weeks have passed after the scam was exposed, yet no big guy has been arrested.' 'This gives the impression that he wants to be soft on the biggies.'
The Congress, which was not a petitioner before the apex court, wants the Rafale deal to be referred to a Joint Parliamentary Committee to go into the price arrived at by the BJP government versus the one negotiated by the previous UPA regime, as also how billionaire Anil Ambani's group with virtually no experience in manufacture of fighter jets was selected as an offset partner for the deal.
Here's a look at how the new corporate governance norms will affect India Inc boardrooms.
The Japanese Olympic Committee on Wednesday established a team to investigate whether any illegal payments were made during its successful bid for the Tokyo 2020 Olympics.
The account turned bad before Chaudhari took over as SBI chairman and the asset was sold to AARC following an open bidding process, months after Chaudhari retired, explains Tamal Bandyopadhyay.
News of all that's transpired on and off the football field
The most positive development over the last 60 years is the political empowerment of disadvantaged groups, introduction of the committee system and better policing of members. However, we still need to address the issue of dysfunctionality of Parliament, MPs' disdain for law making and the absence of periodic audit of the working of Parliament by independent citizens, says A Surya Prakash.
'Younger people have a very strong sense of what is wrong, and what is right, along with the opportunity to call out this kind of behaviour through mechanisms like social media.'
India on Friday won a crucial election to the UN Board of Auditors with its nominee Shashi Kant Sharma, the Comptroller and Auditor General, garnering the largest number of votes.
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.
IAC activist Arvind Kejrival yesterday claimed that Jaipal Reddy was shunted out of petroleum ministry due to his opposition to gas price revision.
China's National Audit Office said the country's sports authorities have since 1999 misused yuan ($15.8 million) earmarked for the 2008 Olympics.
The Cabinet Committee on Economic Affairs (CCEA) on Wednesday approved a five-year-long reform-based result-linked power distribution scheme worth Rs 3.03 lakh crore, for strengthening system of utilities to improve efficiency. Briefing after the CCEA meet here, Power and New & Renewable Energy Minister R K Singh said, "We have done a lot for power distribution reforms. It needs to be strengthened. Today, the Cabinet has approved the new scheme worth Rs 3.03 lakh crore, including Rs 97,000 crore central outlay." He said the funds would be given to power distribution companies (discoms) to strengthen their system.
The move is aimed at making it easier to do business in India.
Since the deadline for Justice B N Srikrishna Committee's feedback is December 31, the government is unlikely to table a data protection Bill in the winter session of Parliament.
The 2G controversy rocked Parliament's Public Accounts Committee meeting in New Delhi on Monday with opposition parties demanding that former director general (Audit) R P Singh be summoned and asked why he differs with the Comptroller and Auditor General on the quantum of loss. With differences persisting, the meeting was adjourned. The meeting scheduled for Tuesday has also been postponed reportedly as Chhath festival falls on that day.
Amidst a debate on controversies surrounding some of the Comptroller and Auditor General reports, the high level committee that went into the Commonwealth Games related projects, has suggested changes in the functioning and structure of top audit and vigilance bodies like the Comptroller and Auditor General making it a three-member body.
The report has identified 29 instances where it appears that the loans disbursed to borrowers were in turn utilised by their group companies to repay the existing debt obligations with IL&FS Financial Services Limited.
Cricket South Africa's (CSA) franchises have experienced profits for the first time since the country was reinstated into international cricket in 1991. CSA President Chris Nenzani attributed this achievement to heightened corporate governance and diligent operational processes at its affiliates. "Congratulations to all concerned with these outstanding results," Nenzani said.
The Delhi high court on Friday directed the city government to bring into effect the recommendations of a panel suggesting over 200 private unaided schools to return excess fees to parents with interest.
It was in 2009 that the accounting regulator set up a special disciplinary committee, comprising six members, to look into the fraud in Hyderabad-based IT firm.
Cricket South Africa plunged into turmoil after its acting president AK Khan and the chairman of the Audit and Risk Committee John Blair stepped down from their posts in the wake of a damning inquiry report of financial mismanagement in CSA.
England, who have won both the one-day and Twenty20 series against Sri Lanka, play a two-day practice match in Colombo before heading to Galle which hosts the first of the three Test matches from November 6.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
Parrikar refused to share further details about the attack, saying the NIA is already investigating the matter.
A fresh controversy broke out in the 2G case on Tuesday with the surfacing of a letter which suggested that Parliament's Public Accounts Committee chief Murli Manohar Joshi had called up a CAG official to press for expediting auditing work into spectrum allocation.
The draft report of the committee contains 27 suggestions for amendments under the I-T Act and eight for reform through administrative instructions.
The infra-major going belly up cracked open some major flaws in the system - the most evident being weak corporate governance and how layers of corporate structures could be formed adding to the opaqueness of the group.
'Although the Election Commission remains convinced about the EVM's integrity, as a fair umpire of the game it was necessary to travel the last mile to convince political players that the entire process was not only fair but transparently so.' A fascinating excerpt from former Chief Election Commissioner Navin Chawla's new book, Excerpted from Every Vote Counts: The Story Of India's Elections.
Acting on the suggestions of political parties, the Election Commission will conduct a field trial of paper backup in the EVMs in a "simulated election" at five locations on July 24. The field trial of 'Vote Verifiable Paper Audit Trail' would be held in Ladakh (Jammu and Kashmir) Thiruvananthapuram (Kerala), Cherrapunjee (Meghalaya), East Delhi (Delhi) and Jaisalmer (Rajasthan). The decision to go in for a field trial has been taken by the EC.
Scandal-plagued FIFA have turned to the man who helped the International Olympic Committee (IOC) out of their corruption crisis, appointing Swiss Francois Carrard as chairman of their reform committee.
The ministry holds about 1.73 million acre of land.
As a follow-up to the views expressed by Shashank Manohar soon after being re-elected as BCCI president earlier this month, the Board of Control for Cricket in India is all set to appoint an Ombudsman at its Annual General Meeting which will be held at its headquarters in Mumbai on November 9.
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