Fund Diversion

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Fund Diversion - Total results - 15
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.

DHFL shares spurt 11% after auditor report says no fund diversion to shell companies
Business

DHFL shares spurt 11% after auditor report says no fund diversion to shell companies

Shares of Dewan Housing Finance Corporation Ltd (DHFL) zoomed 11 percent on Wednesday after a report by a chartered accountancy firm said there are no indications to confirm allegations that the company has created shell companies to divert funds

Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate
Business

Vijay Mallya’s rise and fall: The story of Vittal Mallya’s flamboyant entrepreneur son who became an extradition candidate

Mallya could perhaps have avoided the ordeal had he chosen to stay back and fight the case. Even now, Mallya owes several months of salary dues to his employees, which has added to the public resentment against him.

Indian bank frauds up, will continue to rise; root cause not addressed, says Deloitte survey
Business

Indian bank frauds up, will continue to rise; root cause not addressed, says Deloitte survey

According to the third edition of Deloitte India Banking Fraud Survey released on Sunday, about 84 percent of survey respondents pointed to a substantial rise in fraud incidents.

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.

Insolvency code tightened: President okays ordinance, barring defaulters from bidding for stressed assets
Business

Insolvency code tightened: President okays ordinance, barring defaulters from bidding for stressed assets

The amendments aim to keep-out such persons who have wilfully defaulted, are associated with non-performing assets, or are habitually non-compliant and, therefore, are likely to be a risk to successful resolution of insolvency of a company.

Paradise Papers: Sebi lens on firms for fund diversion, corporate governance lapses
Business

Paradise Papers: Sebi lens on firms for fund diversion, corporate governance lapses

Sebi will coordinate with other regulators and govt agencies, while information would be sought from foreign regulators if required

Skeletons tumble out of Mallya closet: Kingfisher Airlines diverted bank loans to tax havens
Business

Skeletons tumble out of Mallya closet: Kingfisher Airlines diverted bank loans to tax havens

It is alleged that the loan was sanctioned in violation of norms regarding credit limits.

Qissa Kingfisher ka: Lenders already know of fund diversion; but will they get their money back?
Business

Qissa Kingfisher ka: Lenders already know of fund diversion; but will they get their money back?

Chances of the banks getting back their dues appear less and ultimately, it is the taxpayers who bear the brunt

Trouble mounts for Vijay Mallya as SFIO probes fund diversions by Kingfisher
Business

Trouble mounts for Vijay Mallya as SFIO probes fund diversions by Kingfisher

Shares of United Spirits fell 1.65 percent to Rs 3,205.95 on the BSE

United Spirits fund diversion saga gets murkier: How the case unfolded so far
Business

United Spirits fund diversion saga gets murkier: How the case unfolded so far

Unfortunately going by the history of our government investigating agencies, a quick outcome is expecting too much from them

A case for a thorough probe into Satyam: Did Raju divert funds to Maytas?
Business

A case for a thorough probe into Satyam: Did Raju divert funds to Maytas?

If so a disgorgement order can be passed under the company law on Raju and others