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.
External Affairs Minister S Jaishankar on Wednesday took a critical view of some of the key decisions made by the Jawaharlal Nehru government, and said one needs to get out of this "cult worship" that the period from 1946 onwards was "great years" and the country did "splendidly".
Polling and police officers travel in a boat with election materials to reach to a remote polling station ahead of the first phase of India's general election in the Majuli district, Assam, April 18, 2024.
FSSAI is looking to tap the Airport Health Organisation to ensure that such incidents aren't reported in the future.
'There are many smaller parties, which in the age of ballot paper, might not have come into existence'
'Laapataa Ladies opened a lot of doors for me.' 'I have gotten so much love from audiences and seniors in the industry that it's overwhelming.' 'I get calls from superstars. I'm holding my heart and it's like, "Oh my God, they are calling me? I am their fan and they love my work!"'
According to an official close to the development, in the coming financial audit report, to be tabled in Parliament's Budget session next year, CAG will detail the slide in the government's share in petroleum sector profits due to a drop in gas production.
Government sources said Modi will also chair meetings to review the aftermath of the Cyclone Remal, especially in the north east region hit by natural disasters.
For the startup ecosystem in India, the scorecard so far has been a mixed bag, observes Akhil Gupta.
Here comes the first Hindi film to hold online auditions.
Finance Minister Jaswant Singh on Friday indicated radical changes in auditing norms including disqualification of auditors if they are found to have 'financial relationship' with companies as suggested by the Naresh Chandra panel.
Each bottle of pickle that leaves FarmDidi, headed to a consumer, has a little kahani behind it -- it's linked to the tale of a life, the life of a simple, striving village woman who created it, and that's what gives Manjari Sharma satisfaction and happiness.
'Ranbir helped me a lot with emotions and dialogues. As an actor, he makes us very secure.' 'He guides us with his experiences. He makes the work really, really easy and wonderful for his co-stars.'
The 100-foot-tall illegal billboard fell at a petrol pump in Ghatkopar during dust storms and unseasonal rains that lashed Mumbai on Monday.
The top 50 exposures, amounting to Rs 7.8 trillion, of government-registered non-banking financial companies (G-NBFCs) constitute about 40 per cent of corporate credit within the NBFC sector, indicating concentration risk, according to the Reserve Bank of India's report "Trend and Progress of Banking in India 2022-23". Notably, all the 50 are tied to the power sector, a domain fraught with inherent challenges, the report said. The report highlighted recognising the escalating systemic importance of G-NBFCs, the Prompt Corrective Action (PCA) framework had been expanded to include G-NBFCs excluding those falling within the base layer.
'The fraud is the electronic voting machine is being manipulated by humans, and not counting the votes that is shown on VVPAT.'
"The fact of the matter is we need policies in place. There are no policies in place to ensure that spectrum is adequately and effectively used. There are no policies in place for audit for companies that actually buy spectrum. We must put in place (policies) to ensure that there is spectrum sharing, spectrum trading," Telecom minister Kapil Sibal said at the FICCI Annual General Meeting.
96 per cent is being collected through TDS, advance tax, self-assessment tax, and other receipts.
An Enforcement Directorate (ED) investigation into alleged foreign exchange law violations by edtech major Byju's and its CEO and co-founder Raveendran Bjyu is in the final stages of completion following which a show cause notice could be served to them, official sources said Tuesday. The central probe agency had in April searched two business and one residential premises, including that of the registered company of Byju's -- Think & Learn Pvt. Ltd. -- under the provisions of the Foreign Exchange Management Act (FEMA).
An Extraordinary General Meeting (EGM) of Byju's shareholders got underway on Friday to vote on a resolution brought by some investors to ouster founder CEO Byju Raveendran and his family over alleged "mismanagement and failures". Raveendran and his family stayed away from the EGM, calling it "procedurally invalid."
LIC, ICICI Bank, PNB to have nominees on board; firm asked to sell non-core assets.
Ministry of Corporate Affairs suggests overhaul of rules for independent directors.
The Supreme Court said on Wednesday it cannot 'control the elections' or issue directions simply because doubts have been raised about the efficacy of Electronic Voting Machines (EVM), as it reserved its judgment on a clutch of petitions claiming the polling devices can be tinkered with to manipulate the results.
'I have trained Ravish Kumar, Virender Sehwag, Harbhajan Singh, Irfan Pathan...' 'But if I approach somebody for work, I never get it.'
India's scores in the ICAO's air safety oversight audit will improve substantially as the international watchdog's just-concluded validation mission was highly successful as per the initial reports, regulator DGCA said on Wednesday. ICAO is the International Civil Aviation Organisation. Under its Universal Safety Oversight Audit Programme (USOAP) Continuous Monitoring Approach, an ICAO Coordinated Validation Mission (ICVM) was undertaken from November 9 to 16.
Facing threat of terror attacks, the home ministry has ordered security audit of nearly 100 civil airports and decided to bring all such facilities under the Central Industrial Security Force cover gradually.
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 total income of national and regional parties from unknown sources for 2020-21 stands at Rs 690.67 crore.
JM Financial on Wednesday said it had a "careful and detailed review" of the Reserve Bank's order imposing restrictions on the company's financing business and asserted that there was "no material deficiencies" in its loan sanctioning process. The Reserve Bank on Tuesday imposed restrictions on JM Financial Products Ltd after it found the company indulged in various manipulations, including repeatedly helping a group of its customers to bid for various IPOs (initial public offerings) by using loaned funds. "After careful and detailed review of the order issued by the RBI on the action against JM Financial Products Ltd, we strongly believe that there have been no material deficiencies in our loan sanctioning process.
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
'Coming out of a burning building with a machine gun in your hand, that is badass because you don't get to do that in real life.'
Deloitee is also the statutory auditor for Tech Mahindra, which acquired Satyam Computer through an open bid in April this year.
Tata Steel is to form a committee to undertake a social audit of its Kalinganagar project in Orissa, in a bid to counter allegations on the negative impact of industrialisation.
'If you ask me where I want my career to go, I have been saying this for a long time: I want to do a K-drama. I want to be in Korea doing a love story, full of romance.'
The ministry has also made Udayen Sen of Deloitte, and Kalpesh Mehta and Sampath Ganesh of BSR as respondents as they were the signatories of the audit reports of the company.
More than 60 per cent of shareholders of edutech Byju's on Friday voted for removal of founder CEO Byju Raveendran and his family over alleged "mismanagement and failures" at what was once India's hottest tech startup, but the company dug in its heels, calling the voting done in the absence of founders as "invalid". Prosus - one of the six investors who had called the extraordinary general meeting (EGM) - in a statement said "shareholders unanimously passed all resolutions put forward for vote.
Sebi's move will help curb the illicit practice of keeping the parent company's account clean while maintaining debt in its subsidiaries.
Photographer Hitesh Harisinghani/Rediff.com was a fly on the wall at the model auditions for Lakme Fashion Week's Winter-Festive season. Here's what he saw!
