The cardinal reality is that independent directors in India are not truly independent. More than a test of the job knowledge, boards should have independent directors who are socially responsible.
Does the audit industry consider its responsibility towards a company’s stakeholders while writing out scripted audit reports? There needs to be a systemic focus on improving audit quality standards.
SAT ruling is a clear reminder that institutions here have still not been clearly defined with regard to their power.
The homebuyers’ proposal also calls for ring fencing the project against any old legal liabilities. It has been proposed that to make the projects viable for participation from new private sector developers RERA and other delay liabilities for default of the builder to the buyers be extinguished and timelines for delivery be reset.
It’s time to crack down hard on errant auditors
This is the first time the NCLT has banned an auditor in such a fashion.
Major accounting frauds typically come to light when liquidity tightens. Given the over 2% point jump in money market rates in India in the 12 months to September the probability of major accounting fraud coming to light in the Indian stock market is growing.
Currently out on bail, Raju continues to use his once celebrated entrepreneurial skills to mentor his sons and oversee family businesses.
The stated reasons for independent directors exiting boards are mostly the inability to commit quality time to the affairs of the company. Was so much time needed to come to the conclusion of the inability to commit quality time?
There are boards in and outside India that do not understand their role, says former SEBI chief M Damodaran.
The latest SEBI ruling, pertaining to insider trading and fraudulent activities, has been passed after the Securities Appellate Tribunal (SAT) directed it to pass a fresh order in the matter.
The number of stock scams is on the rise. Will something like a forensic financial analyst be a thing of the future in the markets? Will this be a lucrative career path?
Although the Union Cabinet has given the nod to establish a separate regulator for CAs, it seems like SEBI still wants to regulate auditors.
On Wednesday, Sebi found Price Waterhouse guilty in the multi-crore Satyam scam, and barred its network entities from issuing audit certificates to any listed company in India for two years.
Finding PW guilty in the multi-crore Satyam scam, SEBI has barred its network entities from issuing audit certificates to any listed company in India for two years.
Since the Satyam scam broke out, substantial changes have been made with respect to corporate governance in India
The markets regulator is cross-examining PwC officials involved in the case and the delay is due to their non-availability
In a letter sent to the Prime Minister recently, Fight for RERA, a pan India homebuyers forum, said that “a committee be formed to come up with a Satyam Computer-like solution to provide reprieve to homebuyers whose life-time savings are stuck in unfinished projects. Time is of the essence and any delay would leave homebuyers in a lurch permanently since there will be nothing left in the companies to complete the projects.”
"There will be no repetition of Satyam or 2G... those types of things. Those things are unlikely to happen if the court is sincerely implemented," he said here at an event organized by FICCI on 'Insolvency and Bankruptcy Code 2016'.
Satyam‘s Settlement Payments To Aberdeen Not Income
In a fresh order in the nearly seven-year old Satyam scam case, regulator SEBI on Thursday asked 10 entities linked to the main accused B Ramalinga Raju -- including his mother, brother and son -- to disgorge over Rs 1,800 crore worth of illegal gains made by them.
Hyderabad is moving towards smarter healthcare. The city will soon see the launch of Call Health, a healthcare services aggregator which is promoting itself as an online supermarket of healthcare services. The venture is promoted by Sandya Raju, Ramalinga Raju's daughter in law.
All the 10 people including B Ramalinga Raju and his brother B Rama Raju have been granted bail in the multi-crore Satyam Computer Services Ltd (SCSL) accounting fraud case.
Amit Tandon, Founder, IiAS, says waiting six years for a judgement for a self confessed crime is an incredibly long wait.
Here‘s a complete recap of what really happened at Satyam, which led to the downfall of one of India Inc's poster boy Ramalinga Raju and nine others.