“Some would call it strange for the same auditor to audit competing banks in the same year. What is even more unusual is that the accounts certified of both the banks by the same, individual statutory auditor have been found misleading by the statutory regulator,” Hazari had written in one of his columns for The Wire.
“Q1 FY20 is expected to be poor on account of stressed loans slipping to NPAs,” says Hazari.
NEW DELHI — Prime Minister Narendra Modi's unhealthy obsession with the World Bank's Doing Business ranking hijacked India's reform agenda over the course of the Bharatiya Janata Party (BJP) government's four-year tenure, according to hundreds of pages of meeting minutes, interviews with key players and official correspondence reviewed by HuffPost India. The documents...
Source : SIFY Author : Finance Desk Last Updated: Tue, Feb 18th, 2020, 15:27:53 hrs India's most trusted, rich, and successful banker - Uday Kotak is alleged to have made gains of Rs 23,000 crores. The allegation has been made by financial analyst Hemindra Hazari,...
Last Updated : Apr 15, 2019 04:28 PM IST | Source: Moneycontrol.com By proposing the use of perpetual non-cumulative preference shares to cut promoter holding, Kotak, the promoter, is guilty of not complying with the spirit of the law. So...
Worried customers have been queuing to withdraw money from India's Yes Bank after the country's central bank seized control of the troubled lender. The Reserve Bank of India (RBI) said it wanted to "quickly restore depositors' confidence" in the bank. Depositors...
While the media was occupied with the government’s sudden move to replace the board of Infrastructure Leasing and Financial Services (IL&FS), another drama was playing out at the swanky headquarters of the firm.  The Serious Frauds Investigation Office (SFIO) was primed to spring into action, even as the...
"He should have resigned earlier [if he was peeved]…. You can’t be like an independent commentator in position of office and make statements which are destabilising,” Hazari told Forbes India.