Sfio

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Sfio - Total results - 103
Bombay HC quashes prosecution against 2 former IL&FS audit firms; says SFIO complaint filed before special court bad in law
Business

Bombay HC quashes prosecution against 2 former IL&FS audit firms; says SFIO complaint filed before special court bad in law

In June last year, the ministry of corporate affairs had moved the NCLT against BSR and some of the then external auditors of IL&FS alleging professional misconduct.

SFIO makes arrests in Rs 6,500 cr worth accounting fraud at Rotomac, Frost International
Business

SFIO makes arrests in Rs 6,500 cr worth accounting fraud at Rotomac, Frost International

The Serious Fraud Investigation Office (SFIO) has arrested at least three individuals in connection with alleged accounting fraud worth Rs 6,500 crore at Rotomac group of companies and Frost International Ltd, according to official sources

Relief for Gautam Thapar: NCLT terms Vaish report on CG Power as 'bogus', says it will rely on independent or govt agency report
Business

Relief for Gautam Thapar: NCLT terms Vaish report on CG Power as 'bogus', says it will rely on independent or govt agency report

CG Power's board sacked Thapar after Vaish Associates' audit report, which itself is based on as many as 23 disclaimers, claimed that Thapar swindled Rs 3,000 crore from CG Power

Political, regulatory pressure on corporate governance impacting risk taking by firms: HDFC CEO Keki Mistry
Business

Political, regulatory pressure on corporate governance impacting risk taking by firms: HDFC CEO Keki Mistry

Company boards are operating under increased "political and regulatory" pressure to improve their governance standards, and the resultant risk averseness is a prime reason for the growth slowdown, HDFC's Chief Executive Keki Mistry said on Wednesday

SFIO begins probe into alleged irregularities at CG Power and Industrial Solutions, 15 group firms
Business

SFIO begins probe into alleged irregularities at CG Power and Industrial Solutions, 15 group firms

The Serious Fraud Investigation Office (SFIO) has started probe into the alleged irregularities at CG Power and Industrial Solutions Ltd and its 15 group companies

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.

Jet Airways crisis: Naresh Goyal, debt-laden airline come under SFIO investigation for fund diversion
Business

Jet Airways crisis: Naresh Goyal, debt-laden airline come under SFIO investigation for fund diversion

In July this year, the government had ordered an investigation into the alleged mismanagement of funds at Jet Airways, which halted operations in April this year after running out of cash.

Govt orders SFIO probe against crisis-hit DHFL after finding instances of suspected fund diversions
Business

Govt orders SFIO probe against crisis-hit DHFL after finding instances of suspected fund diversions

The government has ordered an SFIO probe into alleged financial irregularities at mortgage lender DHFL after finding instances of suspected fund diversions, according to a source

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 crisis deepens: Govt likely to order SFIO probe into mortgage firm's financial irregularties
Business

DHFL crisis deepens: Govt likely to order SFIO probe into mortgage firm's financial irregularties

The government is likely to order an SFIO probe on the financial irregularities at troubled mortgage firm DHFL soon, an official said

Religare fraud case: Delhi court grants 4-day custodial interrogation of Singh brothers, 3 others
Business

Religare fraud case: Delhi court grants 4-day custodial interrogation of Singh brothers, 3 others

Former Fortis Healthcare promoters Malvinder Singh, his brother Shivinder Mohan Singh and three others, arrested for allegedly misappropriating funds of Religare Finvest Ltd (RFL) and causing it losses of Rs 2,397 crore, were produced before a Delhi court on Friday

Bhushan Power buyout: NCLAT to hear probe agencies over JSW Steel's plea seeking protection from investigation against BPSL
Business

Bhushan Power buyout: NCLAT to hear probe agencies over JSW Steel's plea seeking protection from investigation against BPSL

The NCLAT also said it will decide over the payment of Rs 19,350 crore by JSW Steel to the Committee of Creditors of Bhushan Power and Steel on the next date of hearing.

Supreme Court sets aside Delhi HC order granting bail to ex-CFO of Bhushan Steel
Business

Supreme Court sets aside Delhi HC order granting bail to ex-CFO of Bhushan Steel

Johari was arrested by the SFIO on May 2 for alleged fraudulent activities, including filing false documents with various banks

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.

If Jet Airways founder Naresh Goyal wants to go abroad, he should first deposit Rs 18,000 cr as guarantee: Delhi HC
Business

If Jet Airways founder Naresh Goyal wants to go abroad, he should first deposit Rs 18,000 cr as guarantee: Delhi HC

He added that Goyal wanted to go to Dubai and London for the purpose of arranging funds for the Jet group which was facing financial crisis.

DRT directs Nirav Modi, aides to pay over Rs 7,200 cr to PNB and others, recovery officials to initiate further action
Business

DRT directs Nirav Modi, aides to pay over Rs 7,200 cr to PNB and others, recovery officials to initiate further action

In another order in the suit filed by the consortium of banks, the presiding officer directed Modi and others to pay Rs 232 crore to the applicant banks with the 16.20 percent interest from 27 July, 2018.

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning
Business

Jet Airways crisis: Govt orders SFIO probe into alleged mismanagement of funds, summons Naresh Goyal for questioning

The SFIO order refers to alleged siphoning of funds and unspecified financial irregularities at Jet Airways

DHFL promoters come smelling of roses vis-a-vis Jet Airways' by cleaning up the mess themselves
Business

DHFL promoters come smelling of roses vis-a-vis Jet Airways' by cleaning up the mess themselves

Despite being one up dubiously in the matter of outstanding over IL&FS whose dues are estimated to be Rs 91,000 crore, DHFL has agreed to set its house in order.

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: Ex-CEO of NBFC arm helped Fitch official buy villa, says report; rating agency investigating matter
Business

IL&FS scam: Ex-CEO of NBFC arm helped Fitch official buy villa, says report; rating agency investigating matter

The massive scam came to light last year after various IL&FS group entities defaulted on debt repayments. The group owed more than Rs 90,000 crore as of March 2018.