According to SFIO, the modus operandi of the Reebok fraud involved filing fictitious invoices to show inflated sales, recording fictitious sales by raising prices of goods sold.
'You cannot fight a disease as complex as COVID-19 without a carefully calibrated, localised response.'
Finance Minister Arun Jaitley's decision to cut arbitrage may ensure that the standards of purity of the refined gold in the Indian market meet the global benchmark
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Government's financial inclusion mission is well intentioned, but it may be putting a severe strain on the banking sector.
Modi government must fix policy paralysis.
Analysts say the Sun Network's fundamentals may be sound but the troubles faced by Maran have caused a lot of volatility.
It is rare for Cabinet ministers to tick off state-owned companies publicly, yet that was what then petroleum and natural gas minister Dharmendra Pradhan did for ONGC. Speaking at an event on June 29, Pradhan said he has asked India's premier exploration company to find fresh oil acreages fast. "Do it yourself through some joint venture (or) through a new business model. But the government cannot permit you to hold resources for an indefinite time." The reason for this stricture is India's rising dependence on imported oil and gas. Or, to put it another way, falling domestic production (see chart: "Crude truth"), especially from ONGC, which faces a simple problem.
The notes argue that it will widen the talent base available to govt to deliver increasingly complex services to a demanding population.
Arvind Subramanian will hold classes for a week on applied economics at IIT Delhi
'Life has been full of rewards, full of sadness.'
Though the Cabinet reshuffle on July 5 has a clear stamp of the Prime Minister's Office, the changes have also increased the coherence between the Bharatiya Janata Party, the government and the Rashtriya Swayamsevak Sangh.
India will welcome two trade missions in 2015 focused on meeting its infrastructure needs with US technology and services.
India owes Iran around $8.8 billion primarily on account of crude oil imports.
A well-know journalist, Kumar, 44, a senior executive editor with NDTV India, is among five winners of the Asia's prestigious award.
The government must realise that it has very little time to recover itself, its reputation, its legacy - and India's fortunes,says Mihir S Sharma.
Despite the Congress having nearly four times as many members in the Rajya Sabha as the TMC (48 to 13), Derek O'Brien has been informally leading the coordination of Opposition parties, rallying other parties to demand a discussion on electoral reforms and to protest the government's disinvestment plans, report Rahul Jacob and Archis Mohan.
How do we get back to higher trend growth? The heart of the problem lies in private corporate investment, recommends Ajay Shah.
The only way out for DMRC would be if the lenders, a consortium of 10 banks, find another concessionaire for the project
IFC will act as a transaction advisor for the projects to be developed in the public-private partnership mode.
Opportunity for India to take leadership in economic diplomacy.
Prabhu asks Indian Railways to save Rs 5,000 cr on energy bill.
A long crisis with a lack of sound short-term, long-term actions can result in sluggish growth in India, similar to that in Japan.
Relaxation in KYC guidelines has helped meet the target but this could lead to money laundering and financial malfeasance, it is feared.
A tussle between the Delhi government and the Lt Governor has left bureaucrats vulnerable to sudden transfers.
'India's print media appears to be on the ventilator, gasping for breath, cutting staff, cutting salaries, cutting editions, cutting off its hands and legs,' notes Krishna Prasad.
India should take 'measured approach' with stimulus packages to deal with COVID-19 by limiting interventions to the provision of food, shelter and basic necessities of life for all; forbearance on payments of outstanding loans; and extra provision of working capital including what will be necessary to cover outstanding wages from lockdown period to enterprises.
While IDBI Bank's 140 million customers and 1800-odd branches will come in handy for LIC to hawk insurance, the bank can use LIC's massive agent network to sell its retail loans. But if it is run the same way it had been in the past and LIC is a proxy of the government, then it has no future, says Tamal Bandyopadhyay.
In a meeting with the commerce minister, India Inc hammered Sharma on the collapse of investments, structural nature of the current account deficit and stagnant growth in agriculture.
'I think governments -- whether this one or the ones earlier -- have not understood the strength of the Indian Railways... that it can easily add 2.5 per cent to GDP.'
The lowest bid earlier had come for Madhya Pradesh at Rs 5.05/unit.
"You cannot have a lockdown of people, and a lockout of the economy. That is not the way to formulate policy. We are not criticising, we are only saying it is time to rethink, we will support the government in every possible way," said Kapil Sibal.
Seven months down the line, not much progress has been made, except that the scheme is still being fine-tuned.
The focus is likely to be on consolidation and improvement of existing rural-centric programmes to ensure their completion ahead of the next general elections in 2019, rather than announcement of new schemes. Sanjeeb Mukherjee and Arup Roychoudhury report.
The immediate concern for all companies is to prepare themselves - and their vendors and suppliers - for the new GST return filing mechanism, being test piloted from April 1.
The run-up to next year's general elections might see some of the top executives of government-run companies getting unlucky. And, the period could become the best in the lives of those waiting in the wings.
Measure to be implemented in metros first, followed by state capitals, district HQs and rest of country
Government suspects that many of these bank accounts were used to launder money, especially after the demonetisation in November 2016.
Gas prices have fallen to $10 per million British thermal unit. But the fate of the power project, run by Ratnagiri Gas and Power Pvt Ltd, will hang in balance till the committee takes a decision on gas pooling, reduction in certain taxes and providing per unit subsidy.
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