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."
This would bring between 20,000 and 25,000 firms under the ambit of cost audit. At present, only 44 industries and specific products within an industry come under cost audit. This covers around 6,000 firms but cost audits are conducted in only about 2,200 of these. The proposed change will have a major positive impact on the profession because more firms will have to mandatorily appoint a cost auditor and have cost accounting records audited on an annual basis.
The opposition party also said that it would be improper on the part of Mehrishi to present the report in Parliament.
'As the city grows, so do its fire incidents.'
'There are so many issues that the CVC is examining both with reference to the PNB and RBI,' K V Chowdary said.
We will now get CAG to do the audit for the last 3-4 years, says the secretary.
To enhance transparency and verifiability in the poll process, the Conduct of Election Rules, 1961 were amended in 2013 to introduce the use of VVPAT machines. They were first used in the by-election to the Noksen assembly seat in Nagaland.
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.
Bollywood is full of interesting stories and anecdotes. We bring you some fun facts!
Following the end of the grandfathering period given to India Inc to replace their independent directors who had already served for 10 years, certain companies have come up with unique ways to replace the old guard.
If you are looking for an average political thriller with good performances, Thalamai Seyalagam may interest you, suggests Divya Nair.
Bharti Airtel on Thursday said it has always followed highest accounting standards.
A new schedule has been added to report income from cryptocurrencies and other Virtual Digital Assets.
The audit is under progress and the report is yet to be finalised. The information cannot be given under Section 8(1)(C) of the RTI Act as the disclosure would cause breach of Parliament, the CAG said.
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.
Kuwaiti authorities have identified the bodies of 45 Indians and three Filipino nationals killed in the tragic fire incident in a building housing foreign workers in the Gulf Kingdom, a top official said on Thursday.
'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.'
Fresh meat and seafood delivery unicorn Licious is intensifying its talent acquisition endeavours as it pursues profitability and readies for an initial public offering (IPO) within the next 24 months. Delightful Gourmet, Licious' parent company, has named 39-year-old Karishma Gupta as its new chief financial officer (CFO). Her appointment aligns with Licious' drive for profitable growth through an omnichannel strategy.
Delhi High Court says it can do so under the TRAI Act, rejects petitions filed by telecom associations.
'This is total fraud. You are showing me the slip of my vote but not counting it so this is fraud.'
'It looks like an overnight success but nothing happens overnight.' 'There's a lot of struggle, hard work and sacrifice.'
Sebi has asked exchanges to appoint independent auditors to conduct forensic audit of these firms for verification, including their credentials/financials.
Reliance Industries has accused CAG of exceeding its brief in the audit of spending on eastern offshore KG-D6 block saying hindsight is being used to question operational decisions taken 8 years back.
CAG audit is likely to be completed in six months.
"The voter turnout data for the first two phases of the ongoing 2024 Lok Sabha elections published by ECI on April 30 has been published after 11 days of the first phase of polling... on April 19 and four days after second phase of polling... on April 26.
The Comptroller and Auditor General of India, the apex audit body, has decided to audit the accounts of five telcos-- Bharti Airtel, Reliance, Tata, Vodafone and the state-run BSNL-- for 2009-10.
The Comptroller and Auditor General on Monday said that the audit of certain activities of Department of Space were under way but made it clear that media reports on alleged scam in a deal between ISRO and a private firm cannot be concluded as its "findings".
Sports Minister Roshan Ranasinghe on Sunday slammed Sri Lanka Cricket for bidding for a ban from the ICC, calling it a "big betrayal of the country".
Auditing firms in the country could soon run out of business if they do not get themselves verified according to the guidelines mentioned in the Eighth Directive issued by the European Union (EU). EU will recognise balance-sheets of companies audited by firms that fit their specified standards.
Former Indian Administrative Service (IAS) officer M G Devasahayam, who was one of the signatories to the representation on the credibility of electronic voting machines (EVMs), voter-verifiable paper audit trail (VVPAT) and the vote-counting process, had filed an application with the poll panel under the Right to Information (RTI) Act, seeking details of the action taken on it.
'The fraud is the electronic voting machine is being manipulated by humans, and not counting the votes that is shown on VVPAT.'
38 auditors resigned in 2022-23, compared with 46 the previous year.
If the data breach is found to be genuine, and if the company is found guilty on the grounds of dereliction of duty, or misleading the general public and the RBI about the data breach, actions taken against it will be severe, the person quoted above said.
According to estimates, a total of 11.80 lakh polling stations would be required to be set up across India for Lok Sabha polls this year.
Edtech major Byju's top official on Wednesday said the company's $200 million rights issue has been fully subscribed and asked all shareholders to participate in the "renewed mission". Think and Learn Private Limited, which operates under Byju's brand name, has floated $200 million rights issue at less than 99 per cent enterprise valuation compared to its peak valuation of $22 billion. "Our rights issue is fully subscribed and my gratitude to my shareholders remains strong.
'Padmini and I are very different people.' 'Our acting styles are very different. She's from a different era.'
The Directorate General of Civil Aviation (DGCA) on Monday suspended operations at Redbird Flight Training Academy, one of India's largest flight schools, across all five of its training bases in the country. This action was taken after five accidents involving the institute's planes in the past six months. The DGCA announced it would conduct an audit of the academy's maintenance practices and also proficiency checks of the institute's flight instructors before allowing it to resume operations.
Helicopters are anticipated to be more in demand compared to fixed-wing aircraft as choppers will help in providing accessibility to rural and remote areas in a shorter time.
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