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.
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 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.
Opposition members trooped into the Well, resorting to high-decibel sloganeering.
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.
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.
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.
RBI has cited at least 10 areas where it has no control over PSBs.
The MoD panel had submitted its report in March 2015, weeks before Prime Minister Narendra Modi announced that India would procure 36 jets.
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.
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.
It observed that there is no record of the money meant for the welfare of construction workers.
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.
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.
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.
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.
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.
Indian-origin steel magnate Lakshmi Mittal has joined the board of the investment bank major Goldman Sachs as an independent director.
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.
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.
With the shadow of the Supreme Court-appointed Justice Lodha panel recommendations hanging over its head, the BCCI will be conducting its 87th Annual General Meeting in Mumbai on Wednesday, with election of its honorary secretary being one of the priorities on the agenda.
Meanwhile, company secretaries' body ICSI is also writing to the company secretary of Satyam Computer today to submit a report on corporate governance in a week. ICSI president Keyoor Bakshi said the government had earlier asked the institute to look into the revelations made by Satyam Computer's founder President Ramalinga Raju.
The RBI governor-designate may be economical with spoken words, but is known for his sharp and critical writings
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.
Former Olympic figure skating champion Kim Yuna will play the role of honorary ambassador for the 2018 Winter Olympics in South Korea's Pyeongchang.
FIFA's executive committee has voted to allow publication of former ethics investigator Michael Garcia's investigation into the bidding process for the 2018/2022 World Cups, president Sepp Blatter said in a statement on Friday.
Finding is part of a survey conducted by Janaagraha Centre for citizenship and democracy
The Supreme Court on Wednesday issued a slew of guidelines on regulation of public advertisements.
'If you wish to expand your business in a competitive global environment, you have no option but to be ethical.'
The global heath body had earlier suspended the hydroxychloroquine arm of the clinical trials of experimental COVID-19 drugs over safety concerns.
Batting for greater transparency, a Sebi panel said sound corporate governance helped companies generate "significantly greater returns".
'On the evening of the 17th, the RBI said the bank was put on moratorium.' 'Within an hour, the RBI said it would be merged with DBS.' 'How did DBS come to know within an hour that LVB was in trouble?' 'It means, what happened was match-fixing.'
'If you are doing something to our national democratic space which involves serious amounts of land, the public should have been consulted.'
The regulator is also planning to widen the ambit of 'deemed fraudulent activities'.
