7th January‚ Wednesday‚ Satyam Computer Services Chairman B Ramalinga Raju resigns and disappears after confessing to the largest fraud of Rs. 7‚136 crore in Indian corporate history. He admitted to committing a gigantic fraud that shook corporate India and the stock markets to the core. In a letter to the board‚ Raju‚ 54‚ unburdened his conscience and admitted that there was a huge hole in the company’s balance-sheet created by reporting “inflated profits over a period of the last several years
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Corruption through the ranks of the United States Criminal Justice System is detrimental to the ethics of the justice system as a whole. Police corruption is undoubtedly a complex phenomenon which affects all parties within a society. A majority of officers show great control and use their authority responsibly and for the overall good of the community. However‚ there are a few officers and departments who have been engrossed by corruption and abuse their authority‚ highlighting the importance of
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a Civil Society group in the Philippines‚ PDAF Watch‚ “pork barrel funds are those allocated to politicians such as congresspersons and senators‚ to be used‚ based on their decision‚ to fund programs or projects in their districts”. Based on the research‚ the pork barrel system in the Philippines was introduced by the Americans in 1922 and retained in the 1935 Constitution under the Commonwealth government. But in the era of Marcos regime‚ President Ferdinand Marcos abolished the pork barrel and
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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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Corruption Is the Root Cause of Economic Slowdown in India Corruption is omnipresent. From micro-institutions to macro-institution‚ from local to government institutes each operated and continued to exist and flourish with its own set of corruption activities. What should be noted here is that corruption is going to exist as long as planet earth does. There is plausible end to the institution of corruption‚ which though illegal is unconsciously legal‚ especially in developing countries
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Case 3: Harshad Mehta scam: Harshad Mehta was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system‚ Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments‚ triggering a rise in the Sensex. When the scheme was exposed‚ the banks started demanding the money back‚ causing the collapse. He was later charged
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peaceful agitation launched by Anna Hazare‚ his arrest and then the agitation by the people of India. From outside of India‚ I see this as a mass movement just like the one that we had against extension of Reservation quota by Arjun Singh from the same UPA government. And ironically‚ I also see the same kind of resistance being offered by the government to accept the reasonable conditions of the people of India. But at the same time‚ I really wonder whether the agitations going on across the nation are
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A Report On Seminar on Contemporary Issues Titled “------------------- (Title of the Seminar Project) -----------------------” Submitted in partial fulfillment for the Award of degree of Master of Business Administration (MBA) Submitted By Submitted To Name of Student ------------- Dr. Manish
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2G Spectrum Scam The Rs 1‚76‚000 crore loot in telecom by the UPA govt 1) What is spectrum? What is its relation with mobile phone services? Spectrum is airwaves. Each operator is assigned a set of frequencies. In normal basic telephone service‚ a pair of wires is used for communication. But in case of mobile/wireless communications‚ airwaves are used instead of wires. These spectrum/airwaves are licensed by the Government. It is allocated in Mega Hertz (MHz) in telecom licenses. 4.2 MHz is given
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Corruption The word corrupt when used as an adjective literally means "utterly broken".[1] The word was first used by Aristotle and later by Cicero who added the terms bribe and abandonment of good habits.[2] Morris‚[3] a professor of politics‚ corruption is the illegitimate use of public power to benefit a private interest. Economist I. Senior[4] defines corruption as an action to (a) secretly provide (b) a good or a service to a third party (c) so that he or she can influence certain actions which
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