State-run power firm NTPC overstated its profits by Rs 938 crore (R 9.38 billion) in 2007-08, the Comptroller and Auditor General of India said in a report, but categorically stated that chances of Satyam like frauds in PSUs are very remote.
In a response to the August 3 order, the Centre, represented by Solicitor General Tushar Mehta, said till the time either the legislature or the poll panel steps in, the top court must lay down "dos and don'ts" for political parties in the 'larger national interest.'
The CAG, who blamed what he called a lack of accountability in bureaucracy for delays in action on audit reports, said officials who sit over them should be punished.
The company's accounts were audited by CAG as its shareholders include public sector banks.
Reliance Industries on Wednesday assailed reports of the Comptroller and Auditor General and expert P Gopalakrishnan, which have alleged the company got undue benefits pertaining to Krishna-Godavari basin gas and its pricing.
Sukanta Majumdar, the state BJP president, said, "Amit Shah has set a target of 35 seats. We will achieve that".
With the photo-identity card issue in the capital kicking up a major controversy, Prime Minister Manmohan Singh on Monday said that if there are any practical problems, these will be resolved. "I do not want to go into the motives. If there are any practical problems, we will resolve them," he told reporters on the sidelines of a function where the new Comptroller and Auditor General of India was sworn-in at the Rashtrapati Bhawan.
His appointment will be effective from the date he assumes charge of his office, an official statement said on Monday. An Indian Administrative Service officer of Kerala cadre, 1972 batch, Rai will take over from V N Kaul.
As CAG found Reliance Industries was being favoured in gas exploration deal to the government's detriment, former Prime Minister Manmohan Singh told the then top auditor Vinod Rai that audit should not hurt the private sector and RIL was one of the biggest and most respected.
Unable to face competition of a liberalised environment, as many as 88 public sector undertakings have eroded
Edtech firm Think and Learn Private Ltd, owner of Byju's, on Thursday said neither the company's founder and CEO Byju Raveendran nor any other board member will attend the extraordinary general meeting called by some select investors. Shareholders at Byju's are set to vote on Friday on a resolution brought by some investors to oust founder CEO Byju Raveendran and his family members over alleged "mismanagement and failures". Byju's has called the EGM "procedurally invalid" and contractually in contravention of the company's article of association and shareholder's agreement.
Audit scrutiny of expenditure on foodgrains (Rs 37.4 crore) and cash dole (Rs 44.59 crore) revealed delay in distribution, doubtful purchase of material, doubtful distribution of foodgrain and non-submission of detailed contingent bills.
Comptroller and Auditor General of India V N Kaul said on Monday that there was a need to review government accounting system for bringing in transparency
BlackRock has again reduced the valuation of its share in edtech firm Byju's - this time to about $1 billion, TechCrunch reported on Friday, citing disclosures made by the US-based asset manager. This is 95 per cent less than its peak valuation of $22 billion in 2022. The markdown comes at a time when the company is facing a multitude of challenges, including securing fresh capital, delays in financial reporting and legal disputes with lenders.
'If you look at assets truly working for us, you should look at Aakash and Great Learning.'
Prime Minister Narendra Modi has lauded the people for contributing wholeheartedly to the PM CARES Fund as he chaired its meeting which was also attended by newly-nominated trustees Justice K T Thomas, former deputy Lok Sabha speaker Kariya Munda and Ratan Tata, the PMO said on Wednesday.
The Comptroller and Auditor General of India, in a report tabled before the state assembly in Jammu, pointed out serious lapses in the procedures adopted by state-run health centres.
The electricity board lost Rs 1,111.35 crore owing to irregularities.
The faculty of the Indian Institutes of Technology may be the most sought by the industry for consultancy work, but instead of getting paid for the job, they sometimes end up spending from their own pockets.
You don't prep for 2028 but for 2040, or even 2044. Sustained sporting excellence is based on mass support, grassroots development, and funding - and it is this trifecta India needs to work on, systematically, asserts Prem Panicker.
Faulty laws helped oil majors IOC, HPCL and BPCL -- to avoid excise payment of Rs 713 crore (Rs 7.13 billion) to the government during April-December 2002, the Comptroller and Auditor General of India has said.
The Supreme Court on Friday directed the Board of Control for Cricket in India (BCCI) not to release funds until the state associations file an affidavit implementing recommendations of Justice (Retd.) RM Lodha-led- panel. Issuing the direction, the apex court said the state associations cannot get any money from the national cricket body till the time they follow the Lodha committee's recommendations.
One fallout of Rahul Gandhi's disqualification will be reflected in the Opposition's role in Parliament and related institutions.
Virtually conceding the demands of the Left, the government has ordered a CBI probe into the privatisation of two Centaur Hotels in Mumbai in view of the anomalies pointed out by the Comptroller and Auditor General of India in the process.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
The Comptroller and Auditor General has pulled up leading public sector undertakings for glaring lapses in balance sheets, saying assets were overstated by Rs 377.43 crore (Rs 3.77 billion) in four Navratna companies including SAIL.
The P-8I, which is widely acknowledged to be the world's most deadly LRMR-ASW aircraft, is a derivative of the Boeing 737-800 airliner, onto which a plethora of sensors and weaponry has been fitted.
The Delhi High Court-appointed observer Justice (Retd) Mukul Mudgal said that a former Deputy Comptroller and Auditor General (CAG) will look after the tender process for the fourth cricket Test between India and South Africa starting next month.
The corporate affairs ministry has asked its field officers to expedite the inspection of the books of Byju's and submit the report, a senior official said on Monday as trouble continues to brew at the edtech firm. The ministry, which is implementing the companies law, will decide the further course of action after receiving the report from its regional office. In July 2023, the ministry had asked the office of the regional director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru.
The CBI today registered three FIRs and a preliminary enquiry to probe alleged irregularities in Indian Airlines-Air India merger and purchase of 111 aircraft, leasing of planes and giving up of profit-making routes by Air India, causing a loss of thousands of crore of rupees.
In a first, the Comptroller and Auditor General's (CAG) officers reached out to several ministries in the last week of April as part of a confidence-boosting measure. The meeting brought the CAG officials and those from the ministries across the table to discuss the pain points in their relations. CAG of India Girish Chandra Murmu took this novel step because of growing tensions between those audited and the auditor.
Former CAG Rajiv Mehrishi says Centre has held back a report he submitted to the President, to end what he called "a nightmare of accounts that militates against good governance".
'Byju's financials only reflect the core business. At a group level, they are experiencing substantial losses.'
In a new twist to the AgustaWestland VVIP helicopter scandal, it has now come to light that the helicopter design and manufacturing company never returned the full down payment made by the Indian authorities for procuring the 12 choppers.
Yashvardhan Kumar Sinha was appointed as the chief information commissioner on Saturday, according to a Rashtrapati Bhavan statement.
The All India Muslim Majlis-e Mushawarat, the umbrella body of Muslim organisations in the country, on Friday took serious note of Congress Vice President Rahul Gandhi's claim that an intelligence officer had told him that 'people from Pakistan were talking to the relatives of Muslims killed in the August 2013 Muzaffarnagar riots.
