Time has come to stop handling auditors, both at the lenders’ end and at the borrowers’ end, with kid gloves.
PNB scam: Who will audit the auditors, police the police and judge the judges? Nirav Modi gave a wake-up call to govt
For too long have auditors taken smug shelter behind the watchdog-not-bloodhound defence.
What has raised eyebrows is the order to disgorge around Rs 13 crore plus interest at 12 percent per annum Sebi has slapped jointly and severally on the firm and the two culpable partners
Industry officials also question the IRDAI's move to appoint its General Manager R.K. Sharma as the administrator of Sahara India Life.
Mumbai civic chief Ajoy Mehta has not just ensured that the corporation filed charges against all officers in the road scam, but has effected a fundamental change in accountability
The implicit rationale underpinning CVC’s induction is its overweening presence would deter and nip in the bud quid-pro- quo deals between the officialdom and the wily borrower
A special court in Hyderavad trying the multi-crore accounting fraud in erstwhile Satyam Computer Services Ltd (SCSL) today found all ten accused, including Satyam founder Ramalinga Raju guilty of cheating, forgery, destruction of evidence and criminal breach of trust.
Will the promoters, the Marans, decide to pump in more money into the cash-strapped airline? Or will they announce the status of talks with any potential investor? Because if neither decision is taken, then it only means the Marans will let the airline struggle with mounting dues, exhortations from multiple lenders and dwindling prospects of any revival.
The airline's comments camea day after civil aviation minister A Gajapathi Raju spoke about about the heightened surveillance of SpiceJet flights by theDGCA on account ofof safety concerns.<br />
As many as 54 SpiceJet pilots of the over 125 pilots who have quit the airline have already applied for a jobs in the two major airlines -- Jet Airways and IndiGo.
For SpiceJet , it couldn't have come at a worse time as it has been forced to cancel flights due to a shortage of aircraft and is in urgent need of a capital infusion to stay afloat.<br />
Budget airline SpiceJet has said that payment of salaries to employees was delayed but promised it wouldn't happen again.
The airline has reported 5th straight quarter of net losses for the July-September period.
Bhushan Steel has said it will seek shareholders' approval to raise funds through a securities issue.
The fall in the share price of Bhushan Steel is not driven by what the market defines as the fundamentals of the stock, but is purely due to the absence of corporate governance.
The Central Bureau of Investigation (CBI), India's top crime fighting agency, this month detained Bhushan Steel's managing director over allegations of offering to bribe a senior executive at the Syndicate Bank Ltd in exchange for loans.
India has witnessed a marked increase in the number of scams that have surfaced both in public and private sectors, said Ranjit Sinha, Director, Central Bureau of Investigation (CBI).
This is the second year in row that auditors have warned of a complete net worth erosion, but after the 2011-12 warning, SpiceJet managed to payoff most of its working capital loans and other liabilities.
Deloitte has taken shelter under Standard on Auditing 560 (SA) issued by the Institute of Chartered Accountants of India (ICAI). This standard deals with subsequent events i.e. the events that happened between the balance sheet date and the date of audit report.
Auditors have raised serious doubts on accounts of Jignesh Shah-led Financial Technologies India Ltd (FTIL) saying the financial statements for 2012-13 cannot be "relied upon" any "longer" in the wake of payment crisis at the firm's subsidiary, NSEL.