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Latest Articles


How My Client Got Scammed by a Transporter Pretending to Be VRL Logistics

CA, CS, CMA : A client was scammed by a fraudster posing as VRL Logistics. Learn how to spot and avoid such scams to protect your business from ...

August 29, 2024 2349 Views 0 comment Print

Fraudulent Financial Reporting

CA, CS, CMA : Explore fraudulent financial reporting, its impact on stakeholders, methods of detection, and prevention strategies....

June 19, 2024 573 Views 0 comment Print

Shedding Light on Tax Manipulation: Understanding Fraud & Evasion Strategies

Income Tax : In India, tax manipulation is a serious topic that involves both tax evasion and tax avoidance. Tax evasion is a criminal activity...

May 24, 2024 3123 Views 1 comment Print

Karvy Demat Scam

Finance : Delve into the intricate details of the Karvy Demat Scam, from its genesis to repercussions. Explore the role of regulators, audit...

April 23, 2024 6273 Views 0 comment Print

Bank Fraud Lessons: Influencing Today’s Audits -I

Finance : Discover real-life bank fraud cases involving misappropriation of funds, forgery, and cyber fraud. Learn valuable insights to prev...

March 16, 2024 1470 Views 0 comment Print


Latest News


SFIO Probes EV Manufacturers for FAME-II Subsidy Fraud

Corporate Law : SFIO investigates three EV companies for Rs. 297 crore subsidy fraud under FAME-II. Alleged violations include importing restricte...

December 6, 2024 396 Views 0 comment Print

SFIO Actions on Corporate Frauds in India

Corporate Law : SFIO investigates 36 corporate fraud cases in the past 3 years, with 41 cases filed and 25 convictions. MRAU enhances fraud detect...

December 6, 2024 246 Views 0 comment Print

Beware of Fraudulent Emails: Delhi Police Cyber Crime & CEIB Warn Public

Corporate Law : Delhi Police Cyber Crime & CEIB warn against fake emails alleging child pornography & cyber crimes. Stay vigilant & report any sus...

July 4, 2024 2403 Views 1 comment Print

Indian Cyber Crime Coordination Centre (I4C): Alert on Counterfeit Emails

Corporate Law : An urgent alert from Indian Cyber Crime Coordination Centre (I4C) about counterfeit emails impersonating its CEO. Learn how to rec...

September 4, 2023 11031 Views 0 comment Print

SFIO investigating affairs of Sahara India Group companies: Govt

Company Law : GOVERNMENT OF INDIA MINISTRY OF CORPORATE AFFAIRS LOK SABHA UN-STARRED QUESTION NO. 1282 ANSWERED ON MONDAY, JULY 25, 2022/ SRAVAN...

August 4, 2022 1482 Views 0 comment Print


Latest Judiciary


ITAT Remands Matter to AO: Fake Document Preparation & Unauthorized ITR Upload by CA

Income Tax : Delhi High Court has directed readjudication in the case of Praveen Bansal Vs ITO, stating that the assessment order under Section...

June 15, 2023 7491 Views 0 comment Print

HC denies bail in fraud of 3 crore by Fabrication of GST Number & Firm name

Goods and Services Tax : Supreme Court's ruling in Sheetal Mittal vs. State of Rajasthan, where anticipatory bail was denied due to fabricated GST number a...

June 8, 2023 3354 Views 0 comment Print

HC directs blocking of website https://india-mart.co for fraudulent activities

Corporate Law : HC held that domain name https://india-mart.co/ shall be immediately blocked. MeitY/DoT to issue blocking orders within 24 hours f...

September 20, 2022 1098 Views 0 comment Print

HC grant Bail to CA in case of alleged negligence in stock audit & Fraud

CA, CS, CMA : Since the ex-promoters/directors and similarly situated chartered accountants have been granted bail, there is no reason why the A...

July 16, 2022 6651 Views 0 comment Print

CA and others convicted for Cheating Income Tax Department

CA, CS, CMA : CBI Vs. Devendra Chaturvedi (Special Court for CBI at Greater Bombay) In nutshell, it is the allegation against accused that they ...

December 20, 2019 5019 Views 2 comments Print


Latest Notifications


NFRA Circular on Statutory Auditors’ Responsibilities in Reporting Fraud in a Company

Company Law : NFRA issued a circular highlighting statutory auditors' obligations to report fraud in accordance with Companies Act, 2013. Circu...

June 26, 2023 10668 Views 0 comment Print

RBI advisory on Cyber Threats and Frauds

Fema / RBI : Fraudsters attempt to get confidential details like user id, login / transaction password, OTP (one time password), debit / credit...

January 28, 2022 768 Views 0 comment Print

OBC warns Concurrent Auditors to duly Verify all Outward SWIFT messages

Fema / RBI : It is reiterated that all Concurrent Auditors are required to:- To cross verify that all outbound SWIFT messages vis-a-vis their c...

February 19, 2018 24168 Views 0 comment Print

No instructed PNB to meet its commitments under LOU: RBI

Fema / RBI : There have been reports in the media that in the wake of fraud involving a sum of USD 1.77 billion that has surfaced in Punjab Nat...

February 16, 2018 10164 Views 3 comments Print


Ramalinga Raju under lens for capital gains tax fraud

January 27, 2009 381 Views 0 comment Print

The tax authorities are taking a hard look at how the disgraced promoter of Satyam Computer Services, B Ramalinga Raju, used money raised through pledging of shares. The move will enable the income-tax department to trace some of the undisclosed income of Mr Raju, his family members and their investment firms—an exercise that is distinctly […]

A.P. Police claims the two Price Waterhouse executives confessed

January 27, 2009 264 Views 0 comment Print

The Andhra Pradesh Police claims the two Price Waterhouse executives arrested in relation to the Satyam case have confessed, continuing the trend seen thus far with the police claiming significant success  in getting almost everyone arrested in the case to sing.

Satyam Computers had Rs 3,319 cr bank FDs till 30th September 2008

January 25, 2009 372 Views 0 comment Print

As government sleuths dig deep into the Satyam quagmire, they have been able to find some of the missing pieces to this sordid jigsaw puzzle. Simultaneously , they have also come up with some new revelations that add to the mystery. Here’s the latest poser: Was Satyam flush with funds in excess of Rs 3,500 […]

Frauds can not be stopped by a defined audit process

January 22, 2009 300 Views 0 comment Print

The Big Four accounting firms are reputed to have strong process controls. How then could one such firm have failed to detect such a multi-year scam as is getting unravelled in Satyam? “There is a co-relation between the size of audit firms and the size of companies, and hence all large corporate frauds involve big […]

The Satyam scandal continues to reverberate, with a host of competing

January 22, 2009 339 Views 0 comment Print

The Satyam scandal continues to reverberate, with a host of competing companies aiming to pick up some U.S. business and some big firms facing questions about why they did business with the Indian outsourcer.

Satyam Fiasco will be probed by ICAI High Level Committee- K Raghu

January 21, 2009 387 Views 0 comment Print

Institute of Chartered Accountants of India (ICAI) has formed a six- member high level team to go into the Satyam Computer Services fiasco that has drawn international attention, informed ICAI central committee member K Raghu.

Satyamgate – Investigators need to look deeper into associate Cos and subsidiaries

January 21, 2009 453 Views 0 comment Print

THE Ministry of Corporate Affairs has ordered an inspection of the accounts of Satyam Computer Services Ltd. under Section 209A of the Companies Act that brings in its ambit the subsidiaries too. The Ministry has also ordered serious frauds investigation under Section 235 of the Act.

SFIO will investigate Satyam Fraud Case

January 16, 2009 285 Views 0 comment Print

The ministry of corporate affairs ordered investigation into the Satyam scandal by the Serious Frauds Investigation Office (SFIO), a multi-functional investigating agency that has representations from the ministry of home affairs, Enforcement Directorate and the Intelligence department.

How Satyam May have Inflated Cash & Bank Balance

January 15, 2009 462 Views 0 comment Print

We all are still in disbelief mood as far as cash & bank balance fraud is concerned. Although there is no confirmed news, but the information gathered from some of sources of the investigating agencies (ICAI, SEBI etc.) are as under:

Export fraud – Action against Customs Officers – Notice to be issued within three months, Commissioner correct in dropping proceedings against Officer

December 18, 2007 2963 Views 0 comment Print

M/s. Pashupathi Traders, Secunderabad, filed 8 Shipping Bills, all dated 03rd January, 2001 declaring the goods exported by them as “NAPROXEN” under the DEPB Scheme. The goods were stuffed after examination by the customs at ICD Hyderabad for export to UAE via Nhava Sheva port. The DRI Officers intercepted two consignments of cargo in two containers cleared through Hyderabad ICD for detailed examination including the above consignment, which was lying at Nhava Sheva docks for shipment to UAE. On examination, it was found that the material was not Naproxen.

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