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Rejecting allegations of impropriety about its transactions related to the Indian Premier League, World Sports Group (WSG) today said it has not used funds received in connection with the IPL broadcast rights for “inappropriate or unlawful activities”.
The core Group on IFRS constituted by the Ministry of Corporate Affairs, Government of India and the International Financial Reporting Standards Council of Japan here today jointly agreed to initiate the process of mutual dialogue and collaborate on a common platform on various economic and corporate regulation related issues including convergence of Accounting Standards with IFRS.
The Central Vigilance Commission disposed of 784 cases during February 2010 referred to it for advice. The Commission advised imposition of major penalty against 170 officers including 47 from M/o Railways, 20 from MCD, 16 from Bharat Petroleum Corpn. Ltd., 10 from Bharat Coking Coal Ltd., 7 from Canara Bank, 6 each from Vijaya Bank, Bharat Heavy Electricals Ltd. and Northern Coalfields Ltd., 4 from Punjab National Bank,
Embattled IPL Commissioner Lalit Modi today urged the BCCI to give him just five days to prepare answer for all the questions in lieu of his five year long services and he is unlikely to move court against IPL’s governing council meet on April 26.
Auditors are less likely to find manipulated earnings when management directs their attention away from areas of financial statements that contain errors. Distraction and deception go hand in hand, whether in a magic act or at a dishonest company. Sam Antar, the ex-CFO of electronics retailer Crazy Eddie, kept auditors away from the company’s fraudulent practices in the 1980s in part by having his staff distract them with constant small talk and invitations to coffee and lunch.
Teaser home loan rates, which entice borrowers with a low fixed rate initially and then move to a floating rate, are a matter regulatory concern and may impact financial stability of the lenders, Parliament was informed on Friday.
The resignation of Shashi Tharoor as minister of state for external affairs has striking similarity with another incident 18 years ago when Home Minister P Chidambaram had stepped down from the commerce ministry. The issue then involved alleged investments by Chidambaram’s wife Nalini in the scam-tainted Fairgrowth Financial Services that had been promoted by banker Bilgi Ratnakar,
UP chief minister and BSP chief Mayawati on Wednesday accused the Centre and CBI of harbouring a caste bais against her and sought parity in treatment with RJD head Lalu Prasad and SP supremo Mulayam Singh Yadav in matters relating to disproportionate asset cases.
Goldman Sachs Group Inc.’s November 2006 announcement of Rajat Kumar Gupta’s election to its board brimmed with the India native’s achievements: worldwide managing director of McKinsey & Co.; special adviser to the Secretary- General of the United Nations on management reform, co-chairman of the American India Foundation charity, whose honorary chair is former President Bill Clinton.
Investors spend time on their investments, mostly on the selection of options for their portfolio. However, little attention is paid to another area of equal importance, the paperwork related to the investment. Inadequate attention to this area can lead to a situation where the entire investment is stalled. The several details that need completing can range from just completing the nomination form in the investment to ensuring the bank account details are given to the investing institution.