Financial scam and financial
irregularities In India
In India there are are you scams and corruption cases r came to
limelight
Vijay mallya, Nirav Modi and
Mehul Choksi are examples and after that they are many examples where banks are
simply fooled and loan is withdrawn
Bankruptcy cases & laws has
revealed so many things
In forensic audit it is
revealed that there is a scam of 1 lakh crore rupees after University 200
companies this amount is reached these companies are respect of an divergent
banks help is taken for the fund divergent
Corruption and other
wrongdoings and illegal things are also reported
Reserve Bank has suggested to
investigate few companies and in many of them irregularity has observed
So serious fraud investigation
office is investigating these cases
so serious action will be taken
against those officials who are involved in this illegal and corruption cases
Corporate ministry is
responsible for implementing good laws implementing in corporate sector
Corporate is facing insolvency
regulation
Now you should know what is
forensic audit
Forensic audit should be done
to find out financial information about the company
If there is any problem in
financial transactions forensic audit is the tool to reveal that
Forensic report can be treated
as
Clue for evidence in corruption
cases and scams
Because of forensic report JP
infratech and bhushan steel identify as a victim of financial fraud and cases
of financial irregularity was found
Nclt national Company law
tribunal will decide to go for financial audit for financial report
In 2016 corporate
insolvency resolution was enacted and implemented from 2016 December
Till 2018 December 1484 cases
of of financial irregularities found under the IBC e and same to you take some
action and investigation
They are yet to be solved
or resolve
It is not good that every now
and then corporate financial irregularities for financial scam will affect the
growth of industry
In India or in the country
financial sentiments are hampered
strict decision to be made and
implemented executed to stop this camps financial irregularities financial scam
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