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.
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.
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.
Gautam Adani's alleged proximity to Narendra Modi may dent the latter's self-styled image of incorruptibility, points out Kanika Datta.
Observing that the issue concerning the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) is 'not so simple' the high court asked the Centre to file a 'detailed and exhaustive' response in the matter.
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.
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.
This, said Sitharaman, would remove the possibility of unauthorised communication "and consequent harassment", which was a cause of concern for bankers.
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.
This alternative is being planned as the existing projects continue to be delayed due to land acquisition troubles. The ministry is thinking of adding new track lines to its existing eastern and western DFCs passing major areas in the proposed stretches, senior officials said.
The CAG has pulled up the union government for adopting an erroneous process of devolution of IGST to states and short-transfer of cesses to reserve funds, which resulted in under-reporting of deficit figures for the 2017-18 and 2018-19 fiscals. The Integrated Goods and Services Tax (IGST), which is levied on inter-state sale of goods and services, is shared between the Centre and states in the 50:50 ratio. In its report on the union government accounts tabled in Parliament, the Comptroller and Auditor General of India (CAG) found that a sum of Rs 13,944 crore was left unapportioned and retained in the Consolidated Fund of India (CFI) in 2018-19, even though the amended IGST Act now provides for a process for ad-hoc apportionment of IGST.
The Sena and Shiv Sena-Uddhav Balasaheb Thackeray labelled each other gaddar (traitor) after Shinde's rebellion split their original party last year, while Deputy Chief Minister Devendra Fadnavis publicly asserted he had exacted revenge on Thackeray for his betrayal.
As per norms, sanction for prosecution of government employees accused of corruption has to be given within four months' stipulated time.
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.
The Bombay high court on Thursday directed the Comptroller and Auditor General of India (CAG) to look into allegations of irregularities in toll collection on the Mumbai-Pune Expressway.
The Delhi high court on Friday advanced to December 10 the hearing on pleas to declare the Prime Minister's Citizen Assistance and Relief in Emergency Situations Fund a 'State' under the Constitution and a 'public authority' under the Right to Information Act to ensure transparency in its functioning.
The auditor also raised doubts over the safety procedures.
'The CM kept his cool, but his adviser was liberal with filthy language.' Tamal Bandyopadhyay recreates the diary of a general manager in a public sector bank, providing a glimpse of how they balance their work and life.
The Congress declared Rs 526 crore as income from unknown sources which is 15.57 per cent of the total income of the national parties from unknown sources, the ADR said.
The shift to a shorter T+3 settlement cycle for initial public offerings (IPOs) will be a big test of the domestic market structure, requiring players in the ecosystem to work harder to meet the squeezed timelines, according to industry insiders. The Securities and Exchange Board of India (Sebi), has announced that the transition to the T+3 cycle will be voluntary starting next month and mandatory from December 1. The new mechanism will necessitate quicker confirmations from banks and speedy verification of permanent account numbers (PANs) for all applicants.
The PM CARES Fund is not a Government of India fund and the amount collected by it does not go to the Consolidated Fund of India, the Delhi High Court has been informed.
The government on Thursday tabled the Digital Personal Data Protection Bill 2023 in the Lok Sabha with an aim to protect the privacy of Indian citizens, while proposing a penalty of up to Rs 250 crore on entities for misusing or failing to protect digital data of individuals.
A special audit will look into any pricing anomalies in the transactions between the two, according to a source. FTIL had a contract for helping the exchange with its technology needs.
Vinod Rai, former Comptroller and Auditor General of India, former India women's captain Diana Edulji and banker Vikram Limaye were present at the meeting held at the IDFC Bank's premises in suburban Bandra-Kurla Complex.
The Congress leader is also being probed by ED in two separate money-laundering cases of Aircel-Maxis and INX Media.
Missing the deadline for filing Income Tax returns can lead to consequences.
The fall in the ratio of customs and excise duty collection to GDP has resulted in an overall decline of tax-GDP ratio from an average of 9.32 per cent during the 8th Plan
The minister also said that four cases of corruption in defence deals have been registered by the CBI since 2015.
In its report tabled in Parliament, the national auditor said the Dassault Aviation and the MBDA proposed in September 2015 to discharge 30 per cent of their offset obligations by offering high technology to the Defence Research and Development Organisation (DRDO), but the two firms are yet to do it.
Many federations and former athletes alike have been calling for an anti-doping legislation to implement the existing rules.
Government auditor, the Comptroller and Auditor General has slammed the Navy, defence ministry and a state-run shipyard for the protracted delay in carrying out refit of submarine INS Sindhukirti because of which the force was unable to operate one of their lethal platforms since June 2004.
7 key areas that the Budget must address to re-energise the infrastructure sector, suggests Vinayak Chatterjee.
Air India had placed an order for 68 aircraft, including Boeing 737s, 777s and 787s, all valued at $11 billion in Dec 2005.
Tax consultants and chartered accountants have started receiving a flurry of calls from their clients - both corporate and individuals - seeking clarity over changes in the reassessment regime made during the recently concluded Budget Session of Parliament. Tax experts apprehend the amendments may lead to the income-tax (I-T) department sending out more notices. The new provisions, effective from April 1, have extended the scope for tax sleuths to reopen the past assessments.
If they are made accountable, bad loan cases will shrink dramatically, recoveries will rise, and the NCLT process will be more manageable, asserts Debashis Basu.
Supplementary provisions exceeded the original provision by as much as 239,900 per cent in 2014-15.
Earlier, its attempts to monetise properties, including the 22-storeyed Air India building in Nariman Point, saw lukewarm response.
The only reason for the new deal is to give Rs 30,000 crore to industrialist Anil Ambani, the Congress chief alleged.
'Since the government will not hold any significant stake in the airline this time, such restrictions are not required anymore.'
The CAG said the strategic missile system, which were to be deployed on the China border, procured from the state-run Bharat Electronics Ltd were deficient in quality.
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