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.
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.
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.
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.
Parrikar refused to share further details about the attack, saying the NIA is already investigating the matter.
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.
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.
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.
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.
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.
'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.
The ministry holds about 1.73 million acre of land.
Sanofi India is seeking approval of the shareholders for perpetuity.
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.
The Board of Control for Cricket in India informed the Supreme Court on Tuesday that 12 of its member associations have kept the funds received by the cricket body in term deposit and they will not utilise them until further orders of the apex court.
The return of Indian Readership Survey numbers has met with a silent response.
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.
RBI has cited at least 10 areas where it has no control over PSBs.
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.
Opposition members trooped into the Well, resorting to high-decibel sloganeering.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
Schwab, 54, will serve on the audit and finance committees.
Taking action against promoters of Gillette India for non-compliance to minimum public holding norms, Sebi on Friday ordered freezing all corporate benefits arising out of their stake in the company.
The decision to seek tie-up details from CA firms, especially those associated with the Big 4 -- PWC, Ernst & Young, KPMG and Deloitte -- follows a report by an Institute of Chartered Accountants of India committee on the multi-crore Satyam scam.
Leading sponsors of football's world governing body have demanded independent oversight of FIFA's reform process in an open letter published on Tuesday ahead of a key meeting to finalise proposed reforms at the scandal-plagued organisation.
It observed that there is no record of the money meant for the welfare of construction workers.
The Reserve Bank of India-constituted committee on procedures and performance audit on public services (CPPAPS) has recommended early introduction of coins of Rs 10 denomination.
The crisis-riden CWG has received a further jolt with two power PSUs, NTPC and PowerGrid, deciding to hold back their Rs 40 crore sponsorship money out of a combined committed sum of Rs 60 crore for the event.
Stock exchanges and other market infrastructure institutions as well as their top officials are liable to face penalties for lapses in handling and recitfying technical glitches, with Sebi putting in a place a stricter compliance system driven by "financial disincentives". The markets watchdog has come out with a detailed Standard Operating Procedure (SOP) for Market Infrastructure Institutions (MIIs) less than five months after a technical glitch halted trading at the country's largest bourse NSE for nearly four hours. There will be a "financial disincentives" structure for MIIs -- stock exchanges, clearing corporation and depositories -- for any business disruption beyond pre-defined time, according to a circular issued on Monday.
Even though the powers of the board of directors stand suspended once a company's insolvency process begins, it does not absolve the directors from actions taken up to two years earlier.
Strengthening of rules governing insider trading is among the key proposals in the agenda set by Sebi for 2018-19, along with making improvement to the Prohibition of Insider Trading Regulations (PIT) and Prohibition of Fraudulent and Unfair Trade Practices regulations.
Last week, Domenico Scala, head of FIFA's audit and compliance committee and the man responsible for overseeing the election, said it could take place any time between December and March.
Concerns are swirling that Japan's dream of hosting the Tokyo 2020 Olympics could be a fatality of the spread of the new coronavirus, jolting organisers, sponsors, and media firms who have spent billions of dollars in the run-up to the event. Global insurers face a hefty bill if the coronavirus forces the cancellation of the Games, with estimates of the cost of insuring the showpiece running into billions of dollars.
It would be a good idea to create independent oversight committees for each regulatory institution and indeed, even for their appellate bodies, says A K Bhattacharya.
The government hinted on Tuesday at introducing a more stringent auditing system in line with the Naresh Chandra committee recommendations, within the next one year.
Sebi splits CMD post and has directed listed companies to have at least six directors and at least one of them needs to be a woman.
FIFA approved major reforms at a congress on Friday, part of world football's effort to end the culture of corruption that has plagued its governing body for years. The measures were adopted by 179 members, while 22 voted against and six abstained at a congress in Zurich that will also elect a replacement to FIFA's disgraced president Sepp Blatter. The reforms were developed since June by a committee led by Francois Carrard, a Swiss lawyer tasked with a similar cleanup effort at the International Olympic Committee more than a decade ago. Among the most crucial measures are changes in the role of FIFA's president and its executive committee. The president's job has been altered to function like a corporate chairman of the board, providing strategic guidance but with less management authority. FIFA's executive committee, which had become an epicenter of graft, has been re-branded as a FIFA council, and will operate similar to a corporate board of directions. FIFA's secretary general, previously number two to the president, will serve as world football's CEO.
PAC Chairman K V Thomas, however, remained non-committal over these demands.
