The plan of action ranges from drawdown of loans to seeking additional guarantees, to even recalling some of the loans, if the situation so warrants.
Upping the ante, the Bharatiya Janata Party on Saturday demanded that the Central Bureau of Investigation file a case against Delhi Chief Minister Sheila Dikshit on the basis of the report of Comptroller and Auditor General which indicted her for alleged irregularities in several Commonwealth Games projects.
The reports also claim that the same beneficiary had been found to avail treatment at two hospitals at the same time.
CAG says Rs 43,270.01 cr was spent by the water resources department on 426 incomplete projects.
Most senior scientists have complained of repeated questioning by the expenditure department, bureaucratic delays in clearances, more focus on procedure than on result and the lack of an environment for science to grow, reports Akshat Kaushal
Observing that the "CAG is not a munim (accountant)" the Supreme Court on Monday dismissed a plea challenging the Comptroller and Auditor General's power to conduct performance audit of controversial allocation of coal blocks by the UPA government.
Senior Bharatiya Janata Party leader Murli Manohar Joshi on Saturday charged the Centre with attacking constitutional institutions working in the interest of the people and said it was harmful for the nation.
Chief Justice of India S H Kapadia on Saturday said loss is a matter of fact and profit and gain is a matter of opinion, remarks that came against the backdrop of raging controversies over valuation of natural resources.
The Comptroller and Auditor General, which had at the end of its first sitting with RIL in January suspended the audit of spending on the flagging KG-D6 block following differences with RIL over scope and extent of the scrutiny, is likely to resume it next two weeks.
Lawyer Prashant Bhushan is likely to approach the Supreme Court next week to seek cancellation of the controversial allocation of coal blocks and an independent probe on the lines of the 2G spectrum allocation case he had filed. Bhushan said he is collecting documents regarding the coal block allocation, which the Comptroller and Auditor General has found fault with, and preparing a detailed complaint.
Cancellation of 2G licenses by the Supreme Court clearly revealed a big scam and it was a "collective failure" of the government which "overlooked" warnings given by the Comptroller and Auditor General and the Central Vigilance Commissioner on the issue, Janata Party chief Subramanian Swamy said on Thursday. "Everyone had warned, including the CAG and the CVC, but the government overlooked it," Swamy said soon after the Supreme Court cancelled the 122 spectrum licenses.
The Comptroller and Auditor General on Tuesday declined to join a public debate on the controversies over its findings on the coal blocks allocation, which have come under attack from Prime Minister Manmohan Singh, the Congress and critics.
Delhi airport has been losing money for the past six years because of the heavy interest burden on loans.
The United Progressive Alliance government in its robust defence has rubbished Comptroller and Auditor General's charges against the allotment of coal mines and its estimate of losses to the exchequer.
Even as the Bharatiya Janata Party paralyses Parliament on the allocation of coal blocks by the Centre, its own government in Chhattisgarh had come under attack from Comptroller and Auditor General for allocating coal blocks at 'abnormally low' rates that led to a loss of over Rs 1,052 crore.
Byju's, India's most-valued startup, has decided to put two of its key assets -- Epic and Great Learning -- on the block to generate $800 million-$1 billion in cash, with an aim to meet the edtech firm's various commitments, including repaying the entire $1.2 billion term loan B (TLB) within six months, according to sources. The cash-strapped company has proposed repaying $300 million of the $1.2 billion loan in the next three months, depending on whether the lenders accept Byju's amendment proposal, said the people familiar with the development. "This loan repayment proposal has been submitted to the lenders and conversations are going in the right direction," said a person in the know.
The United Progressive Alliance is expected to put up a united face on Wednesday to counter opposition demand for resignation of Prime Minister Manmohan Singh over the Comptroller and Auditor General reports on coal block allocation and two other issues.
The Bharatiya Janata Partuy on Monday decided to aggressively demand the resignation of Prime Minister Manmohan Singh over the Comptroller and Auditor General report on the allocation of coal blocks and stall both Houses of Parliament on the issue on Tuesday.
Amid the storm over alleged kickbacks in the AgustaWestland VVIP chopper deal, Comptroller and Auditor General Vinod Rai on Friday said an audit of the controversial deal is under progress and a report would be released soon.
The Shunglu Committee has faulted the sacked chief of Commonwealth Games organising body Suresh Kalmadi and his aides over award of contracts saying there was "extreme concentration of powers at the top" and "conflict of interest" among the organising committee officials.
Despite the hope that lessons will be learnt, the next accident invariably shows that nothing has been learnt -- or if learnt, they have been ignored, observes Prosenjit Datta.
Artificial scarcity and lack of clarity on available bandwidth blamed for scam.
In an interview with CNN-IBN's National Bureau Chief Bhupendra Choubey, Public Accounts Committee Chairman Murali Manohar Joshi talks about the probe into the 2G spectrum scam and the government's flip flop on Comptroller and Auditor General report. Following is the transcript of the interview
With Prime Minister Manmohan Singh declaring that he will quit public life if corruption allegations are proved against him, Team Anna on Wednesday demanded an independent probe into the charges, saying they will be most happy if these are proved wrong.
The company had initially objected to audit by CAG for time barred years as per Production Sharing Contract and had not accepted the 'exceptional circumstances' advanced by the ministry
Vicky Nanjappa accessed the CAG report on illegal mining in Karnataka and finds out that the in the face of losses worth thousands of crores, the state administration had only been able to recover just Rs 7.22 crore
The staff at post offices misappropriated Rs 95.62 crore of public money between November 2002 and September 2021, the Comptroller and Auditor General has said. The money may seem small but it is what common citizen invested in post office savings, the oldest and the largest banking system in the country. The system serves the investment needs of urban and rural clients through schemes such as savings bank, recurring deposits, time deposits, national savings certificates, kisan vikas patras, public provident fund, monthly income account scheme, sukanya samriddhi accounts and senior citizens savings scheme.
India has been elected to the newly established Independent Audit Advisory Committee, a five-member body which is expected to contribute to improving the accountability of the UN Secretariat to the member states.
The Bharatiya Janata Party on Tuesday cornered the government for 'defending' Chief Vigilance Commissioner P J Thomas in the Supreme Court, asking Prime Minister Manmohan Singh and Congress President Sonia Gandhi as to what was the 'compulsion' to defend the 'tainted' official and attack the upright comptroller and auditor general.
Against the backdrop of claims made by a former Comptroller and Auditor General official on its report on 2G spectrum, the government on Monday favoured a discussion in the Lok Sabha on the "serious" matter.
Former Comptroller and Auditor General official R P Singh, who has stirred a controversy, has rejected the allegations that the Congress has put him up to defend the government on the audit report on 2G spectrum allocation which had estimated the presumptive loss of Rs 1.76 lakh crore.
The government on Friday asked the Comptroller and Auditor General (CAG) to suggest ways to curb its rising subsidy bill on food, fertiliser and petroleum products without hurting the targetted population.
Amid allegations and counter-allegations over the Comptroller and Auditor General's figure of presumptive losses in 2G allocation, Union Information and Broadcasting Minister Manish Tewari on Saturday demanded that the CAG explain the issue to clear the air over the matter.
After attacking the Comptroller and Auditor General, Union Minister of State in PMO V Narayanasamy Sunday demanded an apology from Bharatiya Janata Party for "misleading" the people that the 2G spectrum allocation in 2008 had resulted in a loss of Rs 1.76 lakh crore to the exchequer.
L&T has denied the charge and said the delay was entirely due to a dispute between Cidco and the railways.
Rural Development Minister Jairam Ramesh has sent a missive to the Comptroller and Auditor General, expressing concern over delayed audit reports adversely affecting the flagship National Rural Drinking Water Programme. In a personal letter to CAG Vinod Rai, he has drawn attention to the ministry not being able to release funds to the states as they are not submitting audits of accounts of grants-in-aid along with the utilisation certificates.
Sandeep Dikshit, Congress Member of Parliament and Chief Minister Sheila Dikshit's son, on Tuesday attributed his party's defeat in the Delhi civic polls to a disconnect between the party and the people. He also claimed that an environment was created by reports of the Comptroller and Auditor General and the anti-corruption movement led by Anna Hazare that made people believe the Congress was at the "centre of all the wrong" that was happening.
Reliance Industries on Saturday said it had never contested the government's right to get the company's spending on KG-D6 gas fields audited by the Comptroller and Auditor General but hoped it will not be subjected to a performance audit."RIL has at no time contested the government's right to conduct an audit by any agency, including the CAG, as provided in Section 1.9 of the Accounting Procedure of the PSC," the company said in a statement on Saturday evening.
The auditor said that it has unfettered right of access to all records of Reliance Industries (RIL) during its audit of operations in the Krishna-Godavari basin and would override any conditions sought to be imposed on the process.
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