Kpmg

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Real Madrid, Manchester United continue to be the most valuable European clubs: KPMG study
Sports

Real Madrid, Manchester United continue to be the most valuable European clubs: KPMG study

KPMG report evaluates Real Madrid to have made a 7.9 per cent year-on-year change while going up € 254 million in comparison to 2019. The report pegged Real's dominance on increased commercial revenue and three straight Champions League titles.

Coronavirus Pandemic: Most firms across industries keeping salary hike budgets unchanged, says survey
Business

Coronavirus Pandemic: Most firms across industries keeping salary hike budgets unchanged, says survey

With the unprecedented situation arising out of COVID-19 pandemic, companies across the world have re-evaluated their HR practices, and while 50 percent organisations across industries are keeping their salary hike budgets unchanged, 36 percent have opted for a decline, says a survey

NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS matter; allows operation of 29 July interim order for two weeks
Business

NCLAT dismisses Deloitte, KPMG pleas against impleadment in IL&FS matter; allows operation of 29 July interim order for two weeks

On 29 July, the NCLAT stayed the order of the Mumbai bench of the NCLT to implead the auditors and the independent directors of IL&FS.

LaLiga: Defending champions Barcelona recorded operating revenues of operating revenues in 2018-19, says study
Sports

LaLiga: Defending champions Barcelona recorded operating revenues of operating revenues in 2018-19, says study

Although Barcelona have won the last two league titles and lead the league at the halfway stage this season, they sacked coach Ernesto Valverde and named former Real Betis coach Quique Setien as his replacement on Monday

Decline in rural sales hits FMCG in 2019; revival likely by second half of 2020 but sector unlikely to achieve double-digit growth
Business

Decline in rural sales hits FMCG in 2019; revival likely by second half of 2020 but sector unlikely to achieve double-digit growth

To overcome, FMCG makers have introduced low unit price packs in multiple categories to make their products affordable and have also introduced multiple promotions and offers.

DHFL crisis: Savings of over 1 lakh fixed deposit holders at risk as trouble mounts for debt-laden mortgage firm
Business

DHFL crisis: Savings of over 1 lakh fixed deposit holders at risk as trouble mounts for debt-laden mortgage firm

Cases of fund diversions, as revealed in a forensic audit by accounting firm KPMG, may scuttle the resolution plan for DHFL that has been in the works for several months.

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.

Venture investments up 69% at $16.4 bn in Q2; strongest-ever quarter by deal values for PE, VC industry: Report
Business

Venture investments up 69% at $16.4 bn in Q2; strongest-ever quarter by deal values for PE, VC industry: Report

Venture capital investment in India strengthened during the September quarter led by a slew of large deals of over $100 million

FDI in single brand retail: IKEA India, H&M welcome govt's move to ease global sourcing norms
Business

FDI in single brand retail: IKEA India, H&M welcome govt's move to ease global sourcing norms

Leading single-brand retailers hailed the government's move to ease local sourcing norms and allow online sales, saying it is an encouraging step to attract investments in the sector

IL&FS case: NCLT rejects Deloitte, KPMG arm's no-jurisdiction plea; next hearing on 5 September
Business

IL&FS case: NCLT rejects Deloitte, KPMG arm's no-jurisdiction plea; next hearing on 5 September

An Indian tribunal on Friday rejected an appeal by the auditors of debt-laden Infrastructure Leasing & Financial Services (IL&FS), challenging the court’s jurisdiction to ban them for alleged abetment of financial fraud

DHFL expects lenders approval of resolution plan by month-end; private equity firms in talks with promoters for strategic stake
Business

DHFL expects lenders approval of resolution plan by month-end; private equity firms in talks with promoters for strategic stake

DHFL has received non-binding indicative term sheets as part of the proposed corporate restructuring of the company

Auditors to debt-ridden DHFL raise red flags around quarterly results; trigger fresh concern about future of troubled lender
Business

Auditors to debt-ridden DHFL raise red flags around quarterly results; trigger fresh concern about future of troubled lender

DHFL, one of India’s biggest housing finance companies with almost 1 trillion rupees ($14.52 billion) in debt, has been hard hit by a liquidity crunch

CCI needs to conduct a survey to assess if Big Four audit firms abusing their dominant position in India: Govt
Business

CCI needs to conduct a survey to assess if Big Four audit firms abusing their dominant position in India: Govt

Ministry of Corporate Affairs, which holds that view, is yet to send any formal request to the CCI to probe the matter, said the official.

IL&FS case: Ramesh Chandra Bawa's wife, daughter seek to unfreeze bank accounts citing no mention in charge sheet, SFIO report
Business

IL&FS case: Ramesh Chandra Bawa's wife, daughter seek to unfreeze bank accounts citing no mention in charge sheet, SFIO report

NCLT adjourned the hearing on a ministry plea seeking a five-year ban on IL&FS group auditors Deloitte Haskins & Sells and the KPMG affiliate BSR & Associates for their criminal role in the scam to 19 July.

BSR & Associates LLP resigns as statutory auditor of IL&FS Investment Managers
Business

BSR & Associates LLP resigns as statutory auditor of IL&FS Investment Managers

The announcement has come a day after BSR & Associates, a KPMG group associate, resigned as statutory auditor of IL&FS Financial Services (IFIN).

IL&FS scam: Govt alleges 22 auditing standards violations by Deloitte, KPMG arm; companies deny wrongdoing
Business

IL&FS scam: Govt alleges 22 auditing standards violations by Deloitte, KPMG arm; companies deny wrongdoing

India detected at least 22 violations of auditing standards by Deloitte Haskins & Sells and a KPMG affiliate while investigating a fraud at a financial company, leading it to seek a five-year ban on the auditors, according to government legal filings seen by Reuters

IL&FS scam: Govt mounts fresh bid to get Deloitte, KPMG arm BSR Associates banned, files application in NCLT
Business

IL&FS scam: Govt mounts fresh bid to get Deloitte, KPMG arm BSR Associates banned, files application in NCLT

IL&FS Financial Services is of the 348 subsidiaries of the crippled IL&FS group, which owes more than Rs 95,000 crore to the lenders.

Edtech is trying to fix India's education system but large scale adoption still a challenge
News & Analysis

Edtech is trying to fix India's education system but large scale adoption still a challenge

Online education in India will mushroom into a $1.96 billion industry from current $247 million.

IL&FS crisis: Auditors have many questions to answer; gravity of offence will determine quantum of action: Govt
Business

IL&FS crisis: Auditors have many questions to answer; gravity of offence will determine quantum of action: Govt

Crisis-hit IL&FS group's debt burden is estimated to be more than Rs 94,000 crore and various entities, including some former officials and auditors, are under the scanner for widespread irregularities and huge loan defaults.

Multi-brand beauty retailer Nykaa raises Rs 100 crore from private equity firm TPG Growth, total valuation at Rs 5,000 crore
Business

Multi-brand beauty retailer Nykaa raises Rs 100 crore from private equity firm TPG Growth, total valuation at Rs 5,000 crore

Nykaa founder and CEO Falguni Nayar has said that the company is looking to push its new initiatives like Nykaa Man and fashion and apparel categories