Forensic Audit

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Forensic Audit - Total results - 26
Infosys whistleblower case: 'Not received any SEBI request for further audit', says IT major
Business

Infosys whistleblower case: 'Not received any SEBI request for further audit', says IT major

Infosys on Friday said it has not received any request from SEBI for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet

Infosys whistleblower case: SEBI may call for forensic audit on allegations of financial irregularities in IT major
Business

Infosys whistleblower case: SEBI may call for forensic audit on allegations of financial irregularities in IT major

In October last year, Infosys had informed the stock exchanges of having received anonymous whistleblowers' complaints alleging certain unethical practices by the top management.

SEBI asks CG Power to provide audit findings on fraud to ousted chairman Gautam Thapar, others
Business

SEBI asks CG Power to provide audit findings on fraud to ousted chairman Gautam Thapar, others

SEBI had in September debarred Thapar, CG Power's CFO and two other directors from accessing the capital market for their alleged involvement in dubious transactions

DHFL crisis: Govt orders SFIO probe into financial fraud charges against debt-laden mortgage lender, 5 other real estate firms
Business

DHFL crisis: Govt orders SFIO probe into financial fraud charges against debt-laden mortgage lender, 5 other real estate firms

The debt-ridden DHFL came under the scanner in the wake of allegations that the company had siphoned off Rs 31,000 crore worth bank loans through layers of shell entities.

DHFL audit firm TP Ostwal & Associates likely to come under scanner of SEBI, RBI after giving clean chit to company
Business

DHFL audit firm TP Ostwal & Associates likely to come under scanner of SEBI, RBI after giving clean chit to company

KPMG, which carried out the forensic audit, has submitted a draft report to the lenders, which has reportedly found the DHFL promoters had diverted nearly Rs 20,000 crore to its related entities.

CG Power case: SEBI bans Gautam Thapar, 3 others from capital markets for fund diversion; orders forensic audit
Business

CG Power case: SEBI bans Gautam Thapar, 3 others from capital markets for fund diversion; orders forensic audit

SEBI prima facie noted that the chairman along with certain directors, employees of CG Power and related entities, had perpetrated certain irregularities.

SEBI orders forensic audit of financial statements for three financial years from 2015-16: Sun Pharma
Business

SEBI orders forensic audit of financial statements for three financial years from 2015-16: Sun Pharma

Sun Pharma, however, did not provide any specific details on the reasons for the Securities and Exchange Board of Indiato order the forensic audit.

IL&FS crisis: SFIO identifies top management, auditors and independent directors of IFIN involved in fraud case
Business

IL&FS crisis: SFIO identifies top management, auditors and independent directors of IFIN involved in fraud case

The SFIO is also collecting details about all borrowings by IFIN from banks and through market instruments, as also about the role of banks and their officials and of credit rating agencies.

Amrapali Group gave flats, penthouses as fees to lawyers; accepting fees in kind is violation of law: SC
Business

Amrapali Group gave flats, penthouses as fees to lawyers; accepting fees in kind is violation of law: SC

The court-appointed forensic auditors, detected siphoning of over Rs 400 crore by Surekha, MD of a listed firm, who according to them, is an authorised signatory of Amrapali in banks since 2016.

Jet Airways in talks with SBI for Rs 1,500-cr short-term loan; Etihad likely to provide guarantee
Business

Jet Airways in talks with SBI for Rs 1,500-cr short-term loan; Etihad likely to provide guarantee

Jet Airways is facing cash drought with its financials in perils. Promoter Naresh Goyal is looking to infuse capital in a manner where he does not have to lose control of the airline which he set up 25 years ago.

Sebi refuses to grant stay on forensic audit of Inter Globe Finance; suspected to be a shell company
Business

Sebi refuses to grant stay on forensic audit of Inter Globe Finance; suspected to be a shell company

However, Sebi removed the restrictions placed on the promoters and directors of IGFL regarding sale of securities of IGFL after finding "no prima facie evidence of misuse of funds".

Jet Airways board holds unscheduled meeting to discuss fundraising; chairman Naresh Goyal wants to retain control in airline
Business

Jet Airways board holds unscheduled meeting to discuss fundraising; chairman Naresh Goyal wants to retain control in airline

Naresh Goyal retaining control was reportedly a major issue that became a roadblock in Jet Airways talks with Tata Sons for a possible stake sale over a month ago.

DGCA monitoring cash-strapped Jet Airways' financial health, safety issues on fortnightly basis
Business

DGCA monitoring cash-strapped Jet Airways' financial health, safety issues on fortnightly basis

Aviation regulator DGCA is assessing the "health" of cash-crunched Jet Airways on a fortnightly basis following a financial audit of the carrier in August this year

Amrapali fund diversion: Why auditors should be sent to cleaners for enabling dubious cash deals
Business

Amrapali fund diversion: Why auditors should be sent to cleaners for enabling dubious cash deals

That Amrapali auditors turned a blind eye to its management’s shenanigans for a quid pro quo, makes it a Satyam redux.

Supreme Court action against Amrapali directors sends the right message to home buyers
Business

Supreme Court action against Amrapali directors sends the right message to home buyers

Apparently, the Supreme Court suspects huge diversion of funds and hence it is looking beyond the companies themselves to retrieve the money to the extent possible for the beleaguered and hapless home buyers.

IL&FS crisis shows warts of smart alec financial engineering; govt must treat it as opportunity for reform
Business

IL&FS crisis shows warts of smart alec financial engineering; govt must treat it as opportunity for reform

The IL&FS crisis is best treated as an opportunity to end a PPP mess so that the role of the state and private sector companies are properly delineated with clarity on accountability at various levels.

Shell companies clampdown: Sebi says trading restrictions to continue against Pacific Finstock, promoters and directors
Business

Shell companies clampdown: Sebi says trading restrictions to continue against Pacific Finstock, promoters and directors

The regulator said that the firm also failed to give any reason as to why the errors did not come to its notice till the time Sebi highlighted the same.

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes
Business

DRT orders: While Nirav Modis, Mehul Choksis escape net, people like Nirmala Prakash stand to lose their homes

Post-Nirav Modi scam, DRT is flooded with cases for adjudication and recovery by banks but a senior officer said on the condition of anonymity that the majority of big cases involving huge sums of money are being settled as per the whims and fancies of bank officials and big borrowers.