If CAG indicts Raja, will action be taken? asks Business Standard.
The Comptroller and Auditor General of India plans to focus on infrastructure companies and banks for special audit during the current financial year.
A lot depends upon the crucial decision-making skills of the management. If you have any doubts about the management then you always have the choice of selling your shares or not buying stocks of those companies at all.
Earlier this month, the corporate affairs ministry had written to various ministries including telecom, railways and steel seeking directions for public sector units under their administrative control for exempting Satyam from submitting audited balance sheets while bidding for projects of the state-owned firms.
The police department had 49,143 units of weapons, of which 11,232 or about 23 per cent, were obsolete, the CAG report for the year ended March 31, 2009 said. There was also shortage of weapons as per Bureau of Police Research and Development (BPRD) norms.
The Central Board of Excise and Customs has decided to prescribe time limits for various activities following representations from the trade and recommendations from the Comptroller and Auditor General of India
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".
Vinod Rai, a 1972 batch IAS officer of Kerala cadre, took oath on Monday as the country's new Comptroller and Auditor General of India. Rai, who replaced V N Kaul, was administered the oath of office by President Pratibha Patil at a brief function at Rashtrapati Bhawan. Vice President Hamid Ansari, Prime Minister Manmohan Singh and Finance Minister P Chidambaram were among the dignitaries present at the ceremony.
Why is the RBI harsh on Paytm Payments Bank? Why did it give Rana Kapoor of Yes Bank Ltd such a long rope?Often, it's a long investigation process, but the RBI doesn't discuss this openly since that can threaten financial sector stability, explains Tamal Bandyopadhyay.
The Comptroller and Auditor General of India on Friday criticised the previous National Democratic Alliance government for undervaluation of a number of public sector units, including Balco and VSNL, where equity was divested.\n\n
Populism gains momentum during election periods, and this trend is evident in at least four states: Telangana, Rajasthan, Madhya Pradesh and Chhattisgarh.
Reliance Industries has written to the government that it has no objection to the Comptroller and Auditor General of India auditing its gas field costs and said it is operating the field in compliance with rules.
Aadhaar is falling behind on technology, missing out on confidentiality and has gaps in its data archiving policy and preserving confidentiality in delivery of the cards to people, says a report by the Comptroller and Auditor General of India (CAG). The performance report, 'Functioning Of Unique Identification Authority Of India', tabled in Parliament on the last day of the budget session notes, assigning a unique identity to all resident Indians was supposed to be the key feature of Aadhaar. But "There were instances of issue of Aadhaar with the same biometric data to different residents indicating flaws in the de-duplication process and issue of Aadhaar on faulty biometrics and documents". It says close to half a million such records had to be cancelled by the Unique Identification Authority of India up to 2016.
With the Comptroller and Auditor General slamming the government for buying the second-hand Admiral Gorshkov at the price of a new aircraft carrier, Navy Chief Admiral Sureesh Mehta on Thursday defended the price being paid by India for the warship.
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.
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.
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.
The affidavit was filed in response to a petition seeking a direction to declare the PM CARES Fund a 'State' under the Constitution to ensure transparency in its functioning.
Sitharaman also directed public sector bank heads to clear long pending vigilance cases against their officials for alleged malpractices.
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.
The Opposition party asked whether the prime minister will take responsibility for the 'deadliest rail tragedy' of this century.
Unable to face competition of a liberalised environment, as many as 88 public sector undertakings have eroded
A bench comprising Chief Justice Uday Umesh Lalit and Justice Bela M Trivedi said it was sitting in a combination of two and according to a reference order on the matter, it should go before a bench of three judges for disposal.
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
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
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.
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
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.
Yashvardhan Kumar Sinha was appointed as the chief information commissioner on Saturday, according to a Rashtrapati Bhavan statement.
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.
'AI may perform tasks, but deep expertise and specialisation remain uniquely human.'
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