Colgate Scam is the recent coal scandal that happened in the country due to poor allocation of coal blocks. This scam is also called the “Mother of all scams’. CAG report shows that private companies had gain around Rs 1.86 lakh crore from coal blocks that were allocated to them on nomination basis instead of competitive bidding‚ which amounted to the loss to national exchequer.194 coal blocks were not auctioned between 2004 and 2011 which causes these huge losses. The losses occurred in a way that
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Introduction - ethics 4 2 Business Ethics 4 3 Overview of Issues in Business Ethics 5 4 Satyam 8 5 Controversies 9 6 Details of Satyam Scam 10 7 Analysis 13 8 Conclusion 15 Ethics. Ethics is a branch of philosophy which seeks to address questions about morality‚ such as how a moral outcome can be achieved in a specific situation
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Coal allocation scam or Coalgate‚[1] as referred by the media‚ is a political scandal concerning the Indian government’s allocation of the nation’s coal deposits to public sector entities (PSEs) and private companies. In a draft report issued in March 2012‚ the Comptroller and Auditor General of India (CAG) office accused the Government of India of allocating coal blocks in an inefficient manner during the period 2004-2009. Over the Summer of 2012‚ the opposition BJP lodged a complaint resulting
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The social relevance of phishing scams in a global era: From present to future TABLE OF CONTENT TABLE OF CONTENT 2 ABSTRACT 3 INTRODUCTION 4 Six common ways about phishing scams 5 POTENTIAL SOCIAL IMPACTS 6 IMPACT ON PEOPLE 7 CONCLUSION 8 REFERENCE LIST 9 ABSTRACT Because of the development of technology‚ people are using email more and more often than before to purchasing‚ online-banking. etc. There are lots of emails are used actively in users communication‚ users must
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Reebok scam Rs 870 crore corporate fraud in the operation of Reebok India have detected a systemic "mismanagement" in the business planning and running of the company reportedly done by some of its officials and employees. "The governance and operations in the company were mismanaged. The bills were inflated and not recorded correctly. So‚ the probe clearly indicates that it was not a corporate scam in the apparel manufacturing firm but it was non-adherence to the rules and guidelines of business
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various lucrative investment schemes over a period of 4-5 years. The chief financial regulatory bodies like SEBI and RBI failed to sense the possibility of any fraud involved in the rosy schemes. The doubts began to roll in 1995-96 following which the scam came in light. CRB Group Bhansali was born in a jute trader’s house in Calcutta. After obtaining a degree in commerce‚ Bhansali became Chartered Accountant in 1980. In the same year‚ he started a financial consultancy firm‚ CRB Consultancy.
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Satyam scam Satyam Computers services limited was a consulting and an Information Technology (IT) services company founded by Mr. Ramalingam Raju in 1988. The company offers information technology (IT) services spanning various sectors‚ and is listed on NSE‚ BSE‚ the New York Stock Exchange and Euronext. It was India’s fourth largest company in India’s IT industry‚ offering a variety of IT services to many types of businesses. Its’ networks spanned from 46 countries‚ across 6 continents and employing
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Corporate Governance at SATYAM | | Submitted to-Prof. Rajan Mani | Submitted by- Khushbu Gumber | Shivi Singh | Siddharth Talokar Vikrant Shinde | 9/26/2011 | | Table of Contents Content | Pg. No. | Company Background
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a letter he wrote to the company’s board of directors (Ramachandran‚ 2009). This report is going to focus on‚ an overview of the events that happened in Satyam‚ its consequences on Satyam’s stakeholders‚ the auditors involved and their role in the scam and the current situation of those responsible for the fraud. OVERVIEW OF EVENTS IN SATYAM FROM 1987-2009 Raju formed Satyam in 1987 in Hyderabad‚ India with fewer than 20 employees which then became one of India’s biggest IT services firm (Atesci
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THE HISTORY OF THE PRIORITY DEVELOPMENT ASSISTAANCE FUND(PDAF)/PORK BARREL • The term pork barrel politics usually refers to spending which is intended to benefit constituents of a politician in return for their political support‚ either in the form of campaign contributions or votes. In the popular 1863 story "The Children of the Public"‚ Edward Everett Hale used the term pork barrel as a homely metaphor for any form of public spending to the citizenry. After the American Civil War‚ however‚
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