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.
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 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.
Bharatiya Janjata Party veteran L K Advani's suggestion for a collegium to appoint Election Commissioners and Comptroller and Auditor General was on Tuesday backed by United Progressive Alliance ally Dravida Munetra Kazhagam and opposition Communist Party of India-Marxist.
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.
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.
Instead of only government departments and state-owned undertakings, the CAG can now audit private companies, too.
The Comptroller and Auditor General of India had called an Entry Conference with RIL and the Oil Ministry on Wednesday to begin its second round of audit that is to cover RIL's spending on KG-D6 gas fields during 2008-09 to 2011-12.
The Comptroller and Auditor General has found gross financial mismanagement and irregularities in the implementation of the National Rural Health Mission at almost every level in Uttar Pradesh.
Team Anna on Saturday clubbed Prime Minister Manmohan Singh and Finance Minister Pranab Mukherjee with 13 other cabinet ministers, whom they accused of corruption, which the Congress dismissed as "unsubstantiated averments" that need not be responded to.
The Comptroller and Auditor General has pulled up Jammu and Kashmir forest ministry for allegedly diverting 1,883 hectares of forest land for non-forest purposes in violation of rules in Jammu district of the state.
When it comes to fundamental issues involving corporate, corruption or anti money-laundering laws, media is increasingly demonstrating its ignorance.
The Comptroller and Auditor General (CAG) on Tuesday criticised the roles of the Department of Space and its former secretary, G Madhavan Nair, in the Antrix-Devas deal, saying the deal was a "classic case of public investment for private profit".
'RBI was focusing on public sector banks perhaps thinking that private sector banks are managed efficiently while PSU banks are not.' 'Now, RBI has to focus on private sector banks too.'
The tax department was given the land at Mumbai's posh location, measuring 2,786 square metre, with a minimum capacity of 100,000 sq ft, in 1992. Instead of constructing an office building, the department recently took a few floors on rent at the nearby Air India building.
In a proposal to FinMin, the Banks Board Bureau suggests asset sales to PSUs within a deadline to recover bad loans.
The new provision under the Income-Tax Act may enable the authorities to seize trustees' personal assets if there's a breach of objectives governing registered charitable trusts.
Asking the Central Bureau of Investigation to respect the line that divides between policy making and policing, Finance Minister P Chidambaram on Tuesday came down heavily on investigating agencies and Comptroller and Auditor General for "overstepping" their limits by attempting to convert bonafide executive decisions into either crimes or abuse of authority.
The CAG's audit of hydropower projects seems to be an effort for status quo that does not do justice to the formidable reputation it has attracted through some of its exemplary work
Satyam Computer Services on Monday said it has filed a suit in a Hyderabad court against its former Board of Directors, certain employees and the company's audit firm Price Waterhouse seeking damages for perpetrating fraud.
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