Stay updated with the latest audit news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on audit topics.
Mumbai, April 2: Following recent gas leakage and fire incidents at Lokmanya Tilak Municipal General Hospital (Sion Hospital), the civic administration has initiated a comprehensive safety review across the facility. The hospital administration has decided to conduct a detailed audit of all electrical equipment and fire safety systems to assess the hospital's preparedness in handling emergencies. Recent incidents trigger safety review According to officials, the first incident occurred on Mar ...Read More >
New Delhi [India], April 2 (ANI): Rajesh Kumar has assumed charge as Director (Finance) at REC Limited on April 2. On March 25, the Appointments Committee of the Cabinet (ACC) approved the proposal from the Ministry of Power for the appointment of Rajesh Kumar as Director (Finance) at REC Limited for a period of five years. Also Read | Mock Drill on Hostile Attack in Delhi at 8 PM Today? Here's the Fact Check of the Viral Notice. Rajesh Kumar is a seasoned finance professional who brings over ...Read More >
New Delhi: India has tightened rules for the sale and deployment of internet-connected CCTV cameras, mandating government certification under security and quality norms, in a move aimed at addressing cybersecurity concerns and reducing risks from unverified surveillance equipment. The requirements, notified by the Ministry of Electronics and Information Technology (MeitY), make it mandatory for internet-enabled CCTV cameras to undergo testing and certification under the Standardisation Testing ...Read More >
New Delhi, Apr 1 (UNI) The PHD Chamber of Commerce and Industry (PHDCCI) has proposed a series of risk-based regulatory reforms aimed at easing compliance burdens in India's heavy industries sector, highlighting multiple structural bottlenecks that impact efficiency and growth. In its recommendations to the competent authority, the chamber pointed out that companies currently face duplication in corporate filings, with multiple annual forms such as MGT-7 and AOC-4 requiring overlapping disclosu ...Read More >
Congress leader Rahul Gandhi on Thursday flagged deficiencies within the Ex-Servicemen Contributory Health Scheme (ECHS) and said the government should, at the very least, accord respect and support to the brave armed forces personnel who sacrifice everything for the country. Gandhi said that a few days ago, he met ex-servicemen who were injured in the line of duty while defending the nation at the 'Jansansad'. "They highlighted serious deficiencies within the Ex-Servicemen Contributory Health ...Read More >
New Delhi, Apr 2 (PTI) Congress leader Rahul Gandhi on Thursday flagged deficiencies within the Ex-Servicemen Contributory Health Scheme (ECHS) and said the government should, at the very least, accord respect and support to the brave armed forces personnel who sacrifice everything for the country. Gandhi said that a few days ago, he met ex-servicemen who were injured in the line of duty while defending the nation at the 'Jansansad'. "They highlighted serious deficiencies within the Ex-Service ...Read More >
New Delhi: Delhi power minister Ashish Sood on Monday indicated that the government was examining ways to avoid residents having to pay higher electricity bills even as the Delhi Electricity Regulatory Commission (DERC) continued deliberations to finalise a plan for liquidating regulatory asset dues totalling over ₹38,000 crore, following directions from the Supreme Court. "The Delhi government will not allow the burden of increased power tariffs to fall on customers," Sood said. Officials, on ...Read More >
Anil Ambani and Reliance Communications are under renewed scrutiny as the CBI launches a fresh investigation into allegations of a Rs 3,750 crore fraud against the Life Insurance Corporation (LIC) involving Non Convertible Debentures. Photograph: Prashant Waydande/ReutersKey PointsThe CBI has filed a new case against Anil Ambani and Reliance Communications for allegedly defrauding LIC of Rs 3,750 crore.The case involves alleged conspiracy, cheating, misappropriation, and violations of the Preve ...Read More >
NEW DELHI: Comptroller and Auditor General (CAG) has raised questions on the condition of the new Indian embassy building in Beijing - how it turned into an "uninhabitable" place, "extremely dilapidated, within a few years of renovation and despite incurring expenditure on a comprehensive annual maintenance contract (AMC).The embassy had shifted its offices and residential quarters for 16 senior officials to a new, renovated building premises in Jan 2012 from the old chancery premises that were ...Read More >
NEW DELHI: The Central Bureau of Investigation (CBI) has filed a fresh FIR against Anil Ambani and Reliance Communications, besides some yet-to-be-identified bank officials, on an LIC complaint alleging wrongful loss of Rs 3,750 crore.The case was registered on April 1 for offences of conspiracy, cheating, misappropriation and offences under the Prevention of Corruption Act."It has been alleged that the LIC was fraudulently induced to subscribe to Non Convertible Debentures (NCDs) worth Rs 4,500 ...Read More >
NEW DELHI: The Central Bureau of Investigation (CBI) has registered a yet another case against industrialist Anil Ambani of Reliance Communications Ltd and others based on allegations of causing wrongful loss of Rs 3750 crores to Life Insurance Corporation of India Ltd, the agency said. The FIR names Reliance Communications, Ambani, the then non-executive chairman and unknown public servants, accusing them of criminal conspiracy, cheating, and criminal breach of trust. Ambani is facing multiple ...Read More >
Mumbai: The Central Bureau of Investigation (CBI) has registered a case on Wednesday against M/s. Reliance Communications Ltd, Anil Ambani, unknown public servants and unknown others on allegations of causing wrongful loss of Rs 3750 crores to Life Insurance Corporation (LIC) of India. Case Filed on Complaint from LIC Regional Manager According to the CBI, the case has been registered on the basis of a complaint received from M.K. Tejan, regional manager, LIC of India Ltd. for offences of crim ...Read More >
Comptroller and Auditor General (CAG) report, tabled by chief minister Sukhvinder Singh Sukhu for the financial year 2024-25 pointed out that state's total debt and liabilities crossed the ₹1 lakh crore mark for the first time. Emphasising on the urgent need for stronger monitoring systems, timely compliance, and reforms to ensure financial discipline and effective governance in the state, the report reveals that the overall liabilities of the state stood at ₹1,04,410 crore as on March 31, 2 ...Read More >
Mumbai: Central Bureau of Investigation has registered a case on 1st April, 2026 against M/s. Reliance Communications Ltd, Shri Anil Dhirajlal Ambani, Unknown Public Servants and Unknown others on allegations of causing wrongful loss of Rs. 3750 crores to Life Insurance Corporation (LIC) of India. The case has been registered on the basis of a complaint dated received from Life Insurance Corporation of India Ltd. for offences of conspiracy, cheating, misappropriation and offences under preventio ...Read More >
Overcrowding, congested living conditions, inadequate bathing spaces, not enough guards and a lack of essential security equipment were among key issues in Odisha's prisons, a report by the Comptroller and Auditor General (CAG). The report, tabled in the state Assembly on Tuesday, said that as many as 31 of 87 jails in Odisha were overcrowded. "Availability of less space per inmate led to congested living conditions for the prisoners. Such prisoners were deprived of the standard requisite space ...Read More >
New Delhi: VerSe Innovation has appointed P R Ramesh as an independent director on its board and named him chair of the audit committee, as the company looks to strengthen governance ahead of its next phase of growth. VerSe is the parent company of Dailyhunt, Josh, Magzter and NexVerse.ai. The company said Ramesh is a chartered accountant with more than 40 years of experience in financial oversight, corporate governance, regulatory advisory and board leadership. He is the former chairman of De ...Read More >
New Delhi [India], April 1 (ANI): Congress MP Karti Chidambaram on Wednesday launched a sharp critique at Centre, accusing it of "weaponising" laws in order to "stifle opposing voices of civil society." Speaking to ANI, Chidambaram stressed that just like PMLA, the government wills to "weaponise" FCRA, which will have a chilling effect on the NGOs. "This government is prone to weaponising the laws to stifle opposing voices of civil society. The way they weaponised the PMLA, they are attempting ...Read More >
Bhubaneswar: The Comptroller and Auditor General (CAG) has criticised the Odisha government for serious lapses in revenue realisation and financial management, leading to non-remittance of over Rs 5,000 crore. According to its latest State Finances Audit Report for 2024-25, which was tabled in the Odisha Legislative Assembly, 27 profit-making State PSUs failed to remit dividends totalling Rs 5,146.76 crore, in clear violation of the state's dividend policy. The Finance Department did not even r ...Read More >
BHUBANESWAR: The state-run Odisha Mining Corporation (OMC) has paid a staggering Rs 4,364.15 crore as penalty for excess and unauthorised mineral production, raising serious concerns over compliance with statutory regulations and internal controls. The penalties were imposed for violation of environmental and mining laws, including the Environment Protection Act, Forest Conservation Act and provisions governing mining plans and clearances. The issue assumes significance in light of the Supreme ...Read More >
The Punjab government has approved industrial reforms to simplify converting leasehold industrial plots and sheds into freehold. Cabinet Minister Sanjeev Arora said the conversion fee is set at 5 per cent, with a one-time stamp duty exemption for conversions completed by 30 April 2026. Measures also streamline documentation and post-allotment services. The Punjab government cleared a set of industrial reforms that changed how industrial plots and sheds were managed. Cabinet Minister Sanjeev Aro ...Read More >
New Delhi: If you are planning a bank visit on April 1, do not be surprised if branches are shut. Across India, banks remain closed to customers on the first day of the financial year, not because of a festival or public holiday, but due to annual account closing. April 1 marks the beginning of the new financial year in India. However, for banks, it is reserved for closing accounts for the previous financial year (ending March 31) and preparing for a fresh accounting cycle. Why Banks Remain Cl ...Read More >
Accountant general (audit) releasing the CAG reports in Bhubaneswar on Tuesday. The Comptroller and Auditor General (CAG) of India has pulled up the Odisha government for inefficiency in revenue realisation from state public sector undertakings (SPSUs), leading to non-remittance of over Rs 5,000 crore. As per the latest CAG report on state finances for 2024-25, tabled in the Assembly on Tuesday, as many as 27 SPSUs failed to remit Rs 5,146.76 crore in dividends despite reporting profits, in vi ...Read More >
Bhubaneswar: Seven state-run companies and corporations in Odisha posted a combined loss of ₹794.98 crore in the financial year 2022-23, according to a report by the Comptroller and Auditor General of India (CAG) tabled in the Assembly on Tuesday. The audit assessed the financial performance of 29 State Public Sector Enterprises (SPSEs), of which seven entities reported losses during the fiscal. The total loss marks a significant rise from ₹453.11 crore recorded by the same set of entities in 2 ...Read More >
Bhubaneswar, Mar 31 (PTI) Seven Odisha government-run companies and corporations incurred a loss of Rs 794.98 crore during the financial year 2022-23, the CAG said in a report. Comptroller and Auditor General of India (CAG) audited the financial performance of the State Public Sector Enterprises (SPSEs) for the financial year 2022-23 and mentioned its findings in a report, which was laid before the assembly on Tuesday. Of the 29 government companies and corporations audited by the CAG, seven e ...Read More >
Bhubaneswar: Odisha's economy grew at a moderate rate of 11.40 per cent in 2024-25 compared to previous year, with Gross State Domestic Product (GSDP) rising to ₹8.90 lakh crore from ₹5.40 lakh crore in 2020-21, reflecting a compound annual growth rate of 13.30 per cent, according to the Comptroller and Auditor General's (CAG) State Finances Audit Report (Report No. 3 of 2026). Despite the steady economic expansion, the report cautioned that structural weaknesses in revenue mobilisation, expend ...Read More >
PR Ramesh, former chairman of Deloitte India, has joined VerSe Innovation, the parent company of news platforms Dailyhunt and the short-video app Josh, as an independent director, the company said in a statement on Tuesday. Key Responsibilities at VerSe At VerSe, Ramesh will also head the audit committee and will be responsible for overseeing financial reporting, internal controls, risk management, regulatory compliance, and audit functions. Strong Industry Experience He brings extensive exp ...Read More >
A local court on Friday granted seven-day police remand of Rajat Dahra, accused of embezzling ₹70 crore of Panchkula Municipal Corporation (MC) funds. The case, being probed by the State Vigilance and Anti-Corruption Bureau (ACB), Haryana, stems from serious discrepancies flagged in ₹145-crore fixed deposits (FDs) maintained by MC with Kotak Mahindra Bank, Sector 11, Panchkula. After lodging an FIR under the Prevention of Corruption Act and provisions of the Bharatiya Nyaya Sanhita on M ...Read More >
Hubballi: Ina major anti-corruption operation, a Deputy Commissioner (DC) from the Commercial Tax Audit wing has been trapped by the Karnataka Lokayukta for allegedly demanding a bribe in the name of clearing GST dues. The accused officer, Bharat Hegde, was caught following a complaint lodged by a petrol bunk owner, exposing yet another instance of corruption within the tax administration system. According to officials, Bharat Hegde, who was serving as DC in the Commercial Tax Audit division, h ...Read More >
New Delhi, The budget session of the Delhi Assembly concluded with over 15 hours of legislative business, said Speaker Vijender Gupta on Monday, describing it as a "result-oriented engagement" during the proceedings. "The second part of the fourth session of the eighth legislative assembly was held from March 23 to March 27, 2026, comprised four sittings conducted on 23rd, 24th, 25th and 27th March 2026 and concluded with a total working time of 15 hours and 16 minutes," Gupta said. During the ...Read More >
This included Rs 93424,28,68,000 voted by the House for 36 departments and Rs 34342,91,59,000 charged on the consolidated fund Jammu, Mar 27: J&K Legislative Assembly Friday passed the bill authorising the payment and appropriation of Rs 127767,20,27,000 from and out of the consolidated Fund of the Union Territory of J&K for the services of the Financial Year 2026-27 through voice vote. This included Rs 93424,28,68,000 voted by the House for 36 departments and Rs 34342,91,59,000 charged on the ...Read More >
Stay updated with the latest None news, articles, and insights from trusted sources. Explore in-depth coverage and expert analysis on None topics.