indiansproblems

 Based upon today's news, SEBI has imposed penalty of INR 1 Crore each on ICRA and CARE for their procrastinating and lethargic approach on assigning good rating to IL&FS in spite of poor financial results. The forensic Audit had ripped off the financial results of IL&FS in 2018-19. It was revealed that rating agencies did not perform at their best and such ratings misled the investors badly.  https://economictimes.indiatimes.com/markets/stocks/news/ilfs-case-sebi-raises-penalty-to-rs-1-cr-each-on-icra-care/articleshow/78259291.cms#:~:text=New%20Delhi%3A%20Markets%20regulator%20Sebi,non%2Dconvertible%20debentures%20of%20IL%26FS. So far, SEBI imposes penalty of INR 1 Crores only. It did the same on RCom also. Now rating agencies will increase their fees by INR 1 crores and again assign the same rating to all the poor performing company. The penalty should be like that the company will always keep in mind the poor performance. Assigning incorrect rating on account of gross ne

 An act to deceit others is quite common among human beings. Most of the act of deceits are very frequent and common among us. Whether we accept it or not, we must have committed smaller or bigger frauds. An employee who claims higher amount of reimbursement of expenses from his employer than he actually incurred is a common type of fraud. There are hundreds of common frauds in today's world and some of the examples are:  1. A dishonest dealer defrauds by false balance in buying as well in selling his goods.  2. Selling low quality cloth at a higher price by misrepresenting the customers. In one of the popular Indian Hotels, a shopkeeper was selling Italian Bags for INR 10k. One of the customers purchased a ladies bag at INR 10k and after some suspicion the customer reported police that she was misrepresented by the seller that bags are imported from Italy. After investigation and interrogation it was observed by police that such bags were not imported and they were manufactured i

Frauds are an outcome of deception and manipulation by human beings. Frauds always existed, but in recent times, it has grown exponentially and further, it has increased in variety and dimension. Fraud is an act to deceive others. A gross misrepresentation may also tantamount to fraud, although the laws of contracts have differentiated the term misrepresentation and fraud.  If a person tries to obtain money, asset or anything which belongs to others through unfair means, such act may be termed as fraud. An employee of a shop offers an item worth INR (Indian National Rupee) 5000 at a price of  INR 2000 to a customer without informing the owner of the shop and pockets all or part of INR 2000 without proper accounting, the act is nothing but fraud as the employee pocketed the money which belong to his employer. This is just a small example. On glancing through newspapers, magazines and news channels we come across with various instances where a person or a group of person defraud hundreds