CAG audit is likely to be completed in six months.
With the Supreme Court (SC) cancelling captive coal block allocations, Jindal Steel & Power Limited will be the worst-affected company.
'He (Modi) thinks as if he is a tiger, and the only one who is right,' Mamata said.
Former Board of Control for Cricket in India president Anurag Thakur on Thursday tendered a fresh "unconditional" and "unequivocal" apology in the Supreme Court, saying it was never his intention to undermine the majesty of the apex court.
While the likelihood of these states going the Lanka or Greece way may be an alarming assessment, the financial situation of some states such as Punjab and West Bengal is indeed quite weak.
Chartered accountants are readying themselves for a higher onus on individuals to report violations that they come across as part of their work. There has been a scramble to understand the implications as the non-compliance with laws and regulations (NOCLAR) comes into effect in less than six months. It is applicable from April 1, 2022 after being deferred earlier because of the Covid-19 pandemic.
Veteran cricket administrator Inderjit Singh Bindra on Tuesday said that renowned banker Vikram Limaye should take the lead in representing BCCI in the upcoming International Cricket Council's meeting on February 4.
'The Modi government has been taking credit for improvement in respect of the ease of doing business in India.' 'But when I look at the scams I cannot help feeling that it is too easy to do business with banks in India, if one is a Harshad Mehta, Vijay Mallya or Nirav Modi and their tribe,' says former Union home secretary Madhav Godbole.
The civic body had come under severe attack in June.
The government may claim planted trees compensate for forests lost, but that does not mean complex flora and fauna destroyed have been restored, points out Himadri Ghosh.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
An expert committee has recommended to Defence Minister Manohar Parrikar that supply of equipment need not be blocked even if bribery charges emerge.
The Supreme Court is likely to pass direction, on Monday, over Justice Lodha committee plea alleging that the Board of Control for Cricket in India (BCCI) is violating the apex court order and committee directions regarding the BCCI reforms.
'No sovereign guarantee, no bank guarantee, no escrow account, yet a huge amount was paid as advance'
Centre objected to the review petition and said that the basic grounds for seeking review of the verdict are the same as they were in the main petition.
Whilst politicians promise to uphold the honour and interests of our soldiers, the very opposite is being done, says Karan Thapar.
'The EC is a sacred institution.' 'In the last few years, more than once, we have found the EC bending over backwards to accommodate the government.'
The Narendra Modi-led National Democratic Alliance government has given environment clearance to five projects since it took charge on May 26.
CAG had in its previous reports slammed Oil Ministry and its technical arm DGH for not exercising enough control and vigil over KG-D6 block.
The CAG has suggested canceling nationwide broadband spectrum allocated to Infotel Broadband Services, now a Reliance Industries company, for allegedly rigging the auction and violating rules.
A special court on Thursday acquitted all accused in the 2G spectrum allocation scam cases. The scam relates to the granting of 2G spectrum licence allocations in 2007-08 which caused, according to a report by the Comptroller and Auditor General of India, a loss of Rs 1.76 lakh crore. Here is a detailed timeline of how the case came to light and how it has progressed over the years:
'Event management can distract from, but not permanently mask, execution failures,' points out Rathin Roy, director, National Institute of Public Finance and Policy.
"Why is it that whenever there are no political overtones to a case, the CBI does a good job?" he said.
A new generation of scholars -- this time, sociologists and anthropologists, who hitherto have been busy with researching social practices of primitive tribes and social structures like India's caste system -- are starting to cast their eyes on the financial sector.
Karunanidhi was convinced that using the 2G cases against the DMK and reopening the fodder case against Lalu Prasad Yadav were products of the Congress leadership's short-sightedness. A revealing excerpt from A S Panneerselvan's Karunanidhi: A Life.
As the House took up the debate on Motion of Thanks on the President's Address, the Bharatiya Janata Party launched a frontal attack on opposition parties specially the Congress for their stance against the CAA, saying they were trying to divide the nation.
'The world does not care about the tension on our border.' 'India has to emerge as a strong economic power.' 'Respect comes when the world sees a country with a direction and leadership that has a vision,' points out Ramesh Menon.
The Supreme Court on Tuesday dismissed the Board of Control for Cricket in India's petition seeking review of the court verdict validating Lodha Panel recommendations.
'As someone who has had the opportunity of cross examining Vinod Rai, extensively over three days as part of the Joint Parliamentary Committee, many of us included I had concluded at that point of time that this report rests on the foundation of sand.'
If banks cannot charge interest from borrowers during the moratorium, who will bear that cost? Should the depositors subsidise the borrowers by foregoing interest on deposits? In that case, we will turn banking on its head! notes Tamal Bandyopadhyay.
Baijal also ordered an inquiry into the spendings on advertisements projecting Chief Minister Arvind Kejriwal and his party and asked the chief secretary to fix responsibility.
Having cut off the "umbilical cord" that tied him to the Board, the former Comptroller and Auditor General (CAG) spoke to PTI on a range of issues from "giving a free hand" to the Virat Kohli-Ravi Shastri duo, Anil Kumble's exit as national coach, his frosty relationship with colleague Diana Edulji, sexual harassment allegations against BCCI CEO Rahul Johri and difficulties in implementing the Supreme Court-mandated Lodha recommendations.
Yashwant Sinha explains where the Modi government has gone wrong in its handling of the economy.
CAG, in a report tabled in Parliament today, said Oil and Natural Gas Corporation hired rig 'Actinia' from RIL for six months in 2009 for Rs 146.71 crore (Rs 1.46 billion) saying it needed urgently drill three wells but its actual usage indicated the hiring was 'not necessary'.
The Supreme Court on Monday refused to entertain a Public Interest Litigation challenging the appointment of Shashi Kant Sharma as the Comptroller and Auditor General of India.
In a complete defiance of the Supremer Court, the Board of Control for Cricket in India, on Saturday, rejected key recommendations of the Lodha Committee, like one-state one-vote, age limit of 70 years and cooling-off period of three years, setting the stage for another round of confrontation with the apex court.
The year gone by saw the high and mighty of the corporate world face the music in the Delhi High Court which held that the telecom majors are amenable to CAG audit and Mukesh Ambani's RIL struggling hard to get rid of an FIR lodged on gas pricing by the 49-day-old AAP regime.
DoT and the company have not done anything that breached the guidelines mentioned in the notice inviting applications for the auction of the BWA spectrum in 2010, it stated in a reply to CAG's draft audit report.
The PNB fiasco falls into a family line that involves non-fund limits - read contingent liabilities which are off-books. Harshad Mehta did it with bankers' receipts in 1992. Ketan Parekh exploited the ignorance of bankers who did not know the difference between a cheque and a pay-order. And the RBI blinked when it failed to insist the SWIFT platform be linked to the core banking solution. Raghu Mohan & Abhijit Lele trace the banking mess that was just waiting to happen.
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