The Serious Fraud and Investigation Office (SFIO) has sent summons to ICICI Bank Ltd and Axis Bank Ltd, seeking explanation about loans given to Gitanjali Gems Ltd in connection with the Punjab...
Mar 06, 2018
Price Waterhouse (PW) has petitioned the Securities Appellate Tribunal (SAT) against Sebi's order barring firms in its network from auditing listed entities for two years. “We have moved SAT...
Jan 18, 2018
Sebi is looking at whether Tata Sons’ plan of becoming a private limited company from a public one would impact shareholders, especially minority shareholders of listed Tata entities that own...
Jan 17, 2018
The Income Tax Department has attached more than 900 properties worth about Rs 35 billion under the Prohibition of Benami Property Transactions Act, which came into force on November 1, 2016. The...
Jan 12, 2018
The Ministry of Corporate Affairs (MCA) has asked the Serious Fraud Investigation Office (SFIO) to probe 57 suspected shell companies based on reports by regional directors of the office of the...
Jan 03, 2018
Financial Year 2017-18 may well go down in India’s history as the period when the Government of India took some bold and drastic steps in its endeavour to overhaul the legal system in the country....
Dec 28, 2017
The IT department has served notices to more than 50 people named on the list of secret Swiss accounts with HSBC Geneva, informing them about the date of hearing of their cases. The Income-...
Dec 04, 2017
The government might next make Aadhaar linkage with property transactions mandatory. Union Housing Minister Hardeep Puri has said that he has no doubt the linkage would happen. Puri said...
Nov 22, 2017
News of class action litigation seems to have got a new lease of life with Indian companies being sued in the United States, primarily under securities laws there. Class action suits against Indian...
Nov 09, 2017
Today, the ascent of a shadow economy is no surprise. In fact, this system has existed since the very inception of the term ‘economy’. What’s surprising is how shadow economies are mushrooming...
Oct 30, 2017
Business can be carried in various forms and structures in India. These structures include sole proprietorships, general partnerships, limited partnerships, limited companies, unlimited companies and...
Jul 27, 2017
The whole point and principal behind arbitration is that the Arbitral Tribunal (“AT”) must act fairly and without any partiality while formulating the final award. However, does this come at the cost...
Jul 26, 2017
The Government of India (GoI) had set up a Companies Law Committee (the Committee) in June 2015 to examine the need for further amendments in Companies Act, 2013 (Co-Act 2013). The Committee invited...
Jul 26, 2017
In the last decade, the frequency of corporate frauds and governance failures that have dotted the global corporate map have witnessed comparably vigorous efforts of improving corporate gov...
May 16, 2017
A fraud involving more than Rs 1000 crore is being investigated by the CBI at Syndicate Bank. The alleged fraud is said to include fake bills and providing overdraft limits against non-existent...
Mar 08, 2016
Consider what happens when a ship that is expecting to dock at a Jordanian port decides to abscond when faced with hurdles? It is finally discovered in the waters, off Alexandria a month later. “We...
Oct 07, 2015