“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.
SEBI’s imposition of a measly fine on the veteran banker raises questions on how regulators let companies and their promoters get away with serious violations.
Jayshree P. Upadhyay
Mumbai 15 March 2021
Shares of Zomato, Paytm parent One 97 Communications Ltd and Nykaa owner FSN E-Commerce Venture have fallen to their lowest levels since listing.
MarketEdited by Prashun TalukdarUpdated: January 24, 2022 1:30 pm IST
New Delhi: Shares of Zomato, Paytm parent One 97 Communications Ltd and Nykaa owner FSN E-Commerce Venture have fallen...
The Bombay High Court on Monday declined Kotak Mahindra Bank’s plea for a stay on the Reserve Bank of India (RBI)’s December 31 deadline to reduce its promoter stake holding.
This, in effect, would mean that the private sector lender has a little more than 10 days to lower its...
Independent banking expert Hemindra Hazari, who has studied the governance of banks in India extensively, says that he was “not surprised” that all these events have come to light in recent months, post Puri’s retirement. “Puri was so focussed on achieving targets and getting the ladoo in each business line that compliance took a backseat under his leadership,” Hazari says. Jagdishan is firmly trying to correct this while not compromising on growth. “Jagdishan is doing an honest job.’
BY SALIL PANCHAL, Forbes India Staff 6 min read PUBLISHED: Dec 27, 2021 11:16:26 AM IST UPDATED: Dec 27, 2021 11:55:49 AM IST
With the sudden exit of its veteran chief executive and no clarity on RBI's stern intervention, the bank's new business strategy is unclear, say analysts
“RBL has been unable to provide clarity...
Moneylife Digital Team10 January 2020
Uttam Prakash Agarwal, an independent director and chairman of the audit committee of the board of Yes Bank has resigned, while making certain observations on the governance of the bank. While confirming the resignation, Yes Bank has said, its board was scheduled to review...
By Nupur Acharya and P R Sanjai June 15, 2021, 10:06 AM GMT+5:30 Updated on June 15, 2021, 5:00 PM GMT+5:30
Confusion over three Mauritius-based funds that whipsawed shares of companies controlled by Indian billionaire Gautam Adani this week has underscored a deeper risk for investors in such stocks owned by opaque entities.
Shares of Adani’s...
