Have you faced problems as a Director, banker, auditor, employee, supplier, buyer, shareholder, when you came across fraudulent practices in a company and tried to deal with it?
What would be your recommendations to prevent fraudulent activities in companies?
How do frauds like that of Satyam happen / remain hidden for so long? Fraud details are at...
karmayog.org
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Jan 7, 2009 10:42 am
From: malchand agrawal Satyam is a case which has come to light due to promoters own disclosures as no one else has made this disclosures? But it is fact that...
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Jan 7, 2009 3:44 pm
It is well known that Auditors do play a great fraud role in every scam. Â With out Auditors knowledge and officials in Banks no fraud is possible. in fact...
What has happened in the case of Satyam is actually just a trailer of the larger malaise within Indian system in all walks of life which has come into...
From: Subhash Parakh Just appoint a special team of independent investigators under supervision of Supreme Court to investigate entire working of SEBI. SEBI is...
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Jan 7, 2009 4:14 pm
From: Rajesh Sehgal The way this world works or the status it is in, frauds and sinister plans are part of it. They always have been. Given that I work in the...
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Jan 7, 2009 4:14 pm
From: Subhash Parakh The Partner of audit firm is central council member of ICAI. The firm is also involved with SEBI, RBI and Central Government. So nothing...
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Jan 7, 2009 4:14 pm
From: sandeep trehan We need to stop being greedy.........Corruption need to stop with Government agencies....Law shall be strict & impartial..... These are...
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Jan 7, 2009 4:14 pm
From: Subhash Parakh Due to general degradation of morale in India, this fraud remain undetected officially. Fraud was known to every one, yet every one kept...
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Jan 7, 2009 4:14 pm
From: krishnan venkatesan Reactions to Satyam by leading corporate citizens seem to indicate that this is a one off and Indian companies are well governed and...
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Jan 7, 2009 4:14 pm
From: Satya Vrat Vyas It is a great shame for the country to have a third fraud in stock market in a very short span. Many investors have lost heavily in these...
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Jan 7, 2009 4:21 pm
From: Arun1951 How many investors actually know what they are investing in? How many credit rating agencies are truthful, and NOT compromised? Why did hundred...
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Jan 7, 2009 4:21 pm
From: Vijay Mukhi Dear Vinay We must take up this issue. Independent directors are a joke. SEBI and the BSE have done nothing at all in this area. I have been...
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Jan 7, 2009 5:48 pm
From: "Kalyan" <kalyan@...> In my opinion, the one suggested in the article below: ...
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Jan 7, 2009 6:16 pm
From: "Meenakshi Srinivasan" <amuluvj@...> These frauds happen because you have frauds like Merrill Lynch being the auditors. My brother quit his job of...
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Jan 8, 2009 5:53 am
From: "Jakkula David" <davidjakkula@...> This has been a white color crime. He should be punished and SEBI should take displinary actions. And also check...
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Jan 8, 2009 5:53 am
From: hgpandya Actually the company act needs to be elaborated and accountable too. Any company found having fraud, in the case, the board of directors,...
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Jan 8, 2009 5:53 am
From: R.S.P.Gupta YES this is really UNFORTUNATE. But one serious thing is visible - HOW THIS MUCH (7000 Cr) amount was adjusted when statutory auditor/s has...
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Jan 8, 2009 5:53 am
From: Milap Choraria According to Times of India (online) Indian equities markets were reeling under tremendous selling pressure, after a shocking scam by the...
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Jan 8, 2009 5:53 am
From: subramaniam srinivasan Ref HJHRF-16 Dated 25.2.2008 The Chairman, Members and Board The Institute of Chartered Accountants of India, ICAI Bhawan, ...
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Jan 8, 2009 5:53 am
[but these independent directors were not unremunerated. Krishna Palepu received Rs. 1 crore. I agree that the onus is too great on them considering the time...
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Jan 8, 2009 5:53 am
From: Shiban Raina The solution lies in Ethics.pl see our e-card rgds shiban raina CHAIRMAN FIVE EES sjraina@......
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Jan 8, 2009 5:53 am
Hi All, A penny for your thoughts: We bought land with cash we sent to India being NRE/NRI (s) way back in 1995. We got a good deal 'when in bloom -sell! when...
Dear Shri Vinay Ji, I wish to state as under in response to your Honest questions: 1] This happens when many are in collusion with the miscreants. 2] I...
Uday Prabhu
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Jan 8, 2009 5:57 am
From: Sandeep Jalan The Independent Auditors must be made accountable for their work. It is suffice to say, "A refusal to see the obvious, a failure to...
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Jan 8, 2009 6:01 am
From: "renuka govindaraju" <renuka_govindaraju@...> The Company Law as such all over the world, is a fraud, and it is much so in India particularly. The...
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Jan 8, 2009 6:14 am
Article contributed by - K. Kalyanasundaram First, do no harm - Oct 7th 2008 - From Economist.com Do bosses need their own Hippocratic Oath? ALREADY the...
karmayog - tanya
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Jan 8, 2009 6:53 am
... From: dayal chandrahas To: karmayog.org Sent: Thursday, January 08, 2009 11:44 AM Subject: Re: How to prevent frauds like Satyam's? Vinay, Yes, 1%...
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Jan 8, 2009 6:53 am
From: rajeshd@... The two factors responsible for any such scam and its non-detection for a long period are : 1) Poor analysis, lack of intelligence...
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