The latest crisis emerged after the All India Football Federation (AIFF) could not find a new commercial partner for the conduct of domestic league, including the top-tier Indian Super League.
The lawsuits allege that KPMG LLP assisted in and certified 'materially misstated financial statements', and that KPMG's international parent failed in its watchdog role and is responsible for "the severely reckless and grossly negligent acts of its agent", the report pointed out. New Century had been US's second-biggest sub prime mortgage lender that mainly served people with poor credit histories but had to file for bankruptcy in April 2007.
10 ISL clubs slam AIFF for delay in tender process, allege "breach of trust"
The Director of Federal Government Affairs for KPMG LLP has been named one of the top 25 corporate lobbyists on Capitol Hill.
Gross GST collections rose by 9.1 per cent to about Rs 1.84 lakh crore in February, boosted by domestic consumption and indicating potential economic revival. As per the official data released on Saturday, on a gross basis, mop up from Central GST stood at Rs 35,204 crore, State GST at Rs 43,704 crore, Integrated GST at Rs 90,870 crore and compensation cess of Rs 13,868 crore.
The gross GST collection rose 7.3 per cent year-on-year to Rs 1.77 lakh crore in December. The Central GST collection stood at Rs 32,836 crore, State GST at Rs 40,499 crore, Integrated IGST at Rs 47,783 crore and Cess at Rs 11,471 crore, according to government data released on Wednesday.
The venture capital industry is optimistic about renewed investments this year, with focus shifting primarily to the green technology sector, a survey by global consultancy KPMG LLP said.
Liverpool's parent company, owned by Americans Tom Hicks and George Gillett, made a loss of 42.6 million pounds last year mainly due to interest payments to service the debt taken out to buy the club.
Asian vehicle brands, including Indian, will increase their global market share significantly in the next five years as customers shift their preferences from North American and European manufacturers, according to a new survey.
Faced with rising gas prices, consumers will opt for fuel-efficient low-cost cars and hybrids over the next five years rather than sport utility vehicles and luxury cars
The Ministry of Corporate Affairs has been engaging with officials from several audit firms over the past two months to streamline the process for the expansion of audit firms in the country, according to sources familiar with the matter. These discussions have involved representatives from notable firms who have independently submitted their recommendations to the ministry.
Markets regulator Sebi has empanelled as many as 16 entities -- including BDO India, Ernst & Young and Deloitte Touche Tohmatsu India -- for conducting forensic audits of financial statements of listed companies as part of efforts to curb frauds. The other empanelled entities are -- Chaturvedi & Co, Chokshi & Chokshi LLP, Grant Thornton Bharat LLP, Haribhakti & Co. LLP, KPMG Assurance And Consulting Services LLP, Mukund M Chitale & Co and Protiviti India Member Pvt Ltd, according to a public notice. In addition, Rajvanshi & Associates, Ravi Rajan & Co LLP, SKVM & Company, Suresh K Jha & Co, T R Chadha & Co LLP and V Singhi & Associates have been selected to conduct the forensic audits, it added.
A small Ahmedabad-based chartered accountancy firm, whose appointment was questioned by a US short seller in its scathing report against the conglomerate run by billionaire Gautam Adani, has resigned due to "pre-occupation", Adani Total Gas Ltd said. Hindenburg Research in its January 24 report that levelled allegations of fraud, stock manipulation and money laundering against the Adani group, had also raised the issue of the size and capability of the firms auditing the conglomerate. Adani group has repeatedly denied all allegations.
Larger firms feel that the smaller players have muddied the waters for the IBC process, leading to excessive regulation of resolution Professionals.
As many as seven firms, including JM Financial, Ernst and Young and Deloitte, have bid for managing the strategic sale of IDBI Bank. These firms would make a virtual presentation before the Department of Investment and Public Asset Management, which is handling the sale process, on August 10, according to a notice by DIPAM. The firms that have bid for acting as transaction advisor are Deloitte Touche Tohmatsu India LLP, Ernst and Young LLP, ICICI Securities, JM Financial Ltd, KPMG, RBSA Capital Advisors LLP and SBI Capital Markets.
The probe agency found irregularities in loans amounting Rs 3,642 crore sanctioned by Yes Bank to the travel firm.
More people using the internet for financial and e-commerce transactions has led to job creation in a niche segment. Specialists who can help deal with rising technology (tech) frauds are in high demand amid the surge in electronic transactions during the pandemic. Demand for tech fraud experts has risen upwards of 35 per cent, reveals employment and human resource services company TeamLease Services.
He is the first Indian-origin person to head a 'Big-Four' audit co.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
The govt could allow start-ups and e-commerce cos to appropriate initial brand building expenses over several years for accounting benefits
Finance Minister Arun Jaitley is likely to slash corporate tax rate by about one per cent and may put an end date for certain exemptions availed by the industry.
'There is a huge tax differential of 15% to 20% depending on income classification.'
Dealmakers and advisors feel investors are shifting their focus to Asia Pacific, especially India, owing to geopolitical instability driven by events such as Brexit and protectionist trade wars.
.jpg)
The GST will subsume most of the indirect taxes like excise duty and service tax
USL board said its second forensic audit by EY has revealed fund diversion worth Rs 1,225 cr to Mallya companies.
Post-elections, the pace is expected to be greater for inbound deals, which have been largely pushed back for many months now for want of better clarity on the policy stance of new government, experts said.
Arun Jaitley said he would put the DTC Bill in cold storage.
Last Saturday, USL board asked its Chairman Vijay Mallya to quit.
Under the amended treaty with Mauritius, for two years beginning April 1, 2017, capital gains tax will be imposed at 50 per cent of the prevailing domestic rate.
As per Indian tax laws, bonus in kind paid to the employees could be considered as salary income in the hands of the employees.
Gamification has the potential to trigger immediate positive responses to learning that an organisation wishes to impart.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances