Citizens' Issues
Citizens Whistle Blowers Forum requests action against PricewaterhouseCoopers
Delhi-based Citizens Whistle Blowers Forum (CWBF) has requested Prime Minister Narendra Modi and Finance Minister Arun Jaitley to take immediate action against PricewaterhouseCoopers India Pvt Ltd (PwC) for allegedly posing threat to national interests.
 
CWBF, in a release says, "A number of highly disconcerting issues involving PwC, which pose serious threat to national interests, safety of investments of common man, result in significant losses to the public exchequer and which expose lack of efficacy of controls in the banking system have come to the notice of the CWBF. Further PwC has been found guilty of criminal acts by the Serious Frauds Investigation Office (SFIO) and by the Special CBI Court. Despite this, PwC is being rewarded with significant government business including those where there are direct conflicts of interest."
 
The Forum is headed by Justice AP Shah, former Chief Justice of Delhi High Court with Senior Advocate Prashant Bhushan as its Member Secretary. Other members of the Forum include Prof Aruna Roy, former Finance Secretary EAS Sarma, Prof Jagdeep Chhokar, Admiral Lara Ramdas and Wajahat Habibullah, former Chief Election Commissioner. 
 
 

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COMMENTS

Vaibhav Dhoka

4 months ago

It is rightly said that Finance minister should have initiated action but our PM said and lashed at ICAI for not taking disciplinary action on erring CAs overlooking PWC where action should have initiated long back.Catching petty CA is no great.

A BANERJEE

4 months ago

As rightly stated in the article and worth quoting: "...PwC has been found guilty of criminal acts by the Serious Frauds Investigation Office (SFIO) and by the Special CBI Court. Despite this, PwC is being rewarded with significant government business including those where there are direct conflicts of interest." It is indeed strange and shocking that a group of eminent citizens should take up the issue with FM who ought to have taken necessary action in this regard on his own. And, this happens during a nationalistic dispensation! Will the PM take this matter up in the interest of the country?

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All of us are familiar with the private sector indulging in sharp practices and taking customers for granted or, worse, taking them for a ride after making rosy promises and stealing their hard-earned money. Such companies are classified as cheats and frauds when they fail to fulfil their obligation to make good their promise. Some of them just vanish into thin air while many others plod...
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Show cause notices to nearly 6,000 NGOs over foreign funds
The government has served show cause notices to nearly 6,000 NGOs for not filing their annual income and expenditure details for three or more years in a violation that may lead to cancellation of their licenses to receive foreign funds.
 
The Union Home Ministry in a circular issued on Monday said the notices have been issued to 5,922 associations because they have failed to upload their annual returns under the Foreign Contribution (Regulation) Act despite being given adequate opportunities to do so.
 
"In spite of sufficient and adequate notice, it has been observed that 5,922 associations have not uploaded their annual returns for the three or more than three years within the stipulated time given in the notice," the circular read.
 
"Such associations have now been issued show cause notice as to why their registration under the Foreign Contribution (Regulation) Act, (FCRA) may not be cancelled under Section 14 of FCRA, 2010, for failure to upload their annual returns from 2010-11 to 2014-15."
 
It said that the associations -- which include educational and missionary trusts, shrine managements -- were given an opportunity by way of a public notice to file their missing annual returns from 2010-11 to 2014-15 within a period of one month time without payment of penalty or compounding fee for non filing of annual returns.
 
"This was followed by regular alerts to the associations but despite all this they didn't upload their annual returns."
 
Associations that receive foreign funds are required to submit their annual return for every financial year beginning on April 1 within nine months of the closure of the financial year.
 
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.

 

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