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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The 2G spectrum scam involved officials in the government of India illegally undercharging mobile telephony companies for frequency allocation licenses‚ which they would use to create 2G subscriptions for cell phones. According to a report submitted by the Comptroller and Auditor General based on money collected from 2G licenses‚ the loss to the exchequer was 176‚379 crore (US$38.27 billion) . The issuing of the 2G licenses occurred in 2008‚ but the scam came to public notice when
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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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A FINAL PROJECT REPORT ON “ROLE OF SALES PROMOTION ON FMCG” A Finaland Project report submitted in Partial Fulfillment of award of MMS/MBA Degree PROJECT GUIDE: PROF. RAJENDRA SIR SUBMITTED BY: HITESH NARAINI (R.NO-41) SUBMITTED TO: MIM H &GHM INSTITUTE OF MANAGEMENT ULHASNAGAR ( MUMBAI ) This is to certify that Mr. HITESH NARAINI the student of MMS/MBA 2nd year of H & GHM. Institute of ‚ Ulhasnagar ( Mumbai ) have completed
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Enron and its Associates Used Questionable Accounting Practices Clearly‚ there have been cases where management knowingly deceived the auditors. Then there seem to be other instances where the accounting treatment envelope was pushed just a bit too far. In the case of Enron‚ David B. Duncan‚ the former Andersen partner in charge of the Enron audit who was the government’s chief witness in the trial against Arthur Andersen‚ stood behind the decisions that resulted in the widespread use of off-balance
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THE HARSHAD MEHTA SCAM INTRODUCTION: Harshad Shantilal Mehta was born in a Gujarati Jain family of modest means. His early childhood was spent in Mumbai (Kandivali) where his father was a small-time businessman. After completing his secondary education Harshad left for Bombay. While doing odd jobs he joined Lala Lajpat Rai College for a Bachelor’s degree in Commerce. After completing his graduation‚ Harshad Mehta started his working life as an employee of the New India Assurance Company. During
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