The Institute of Chartered Accountants (ICAI) may revise tenure of a company's auditors to deal with audit fraud committed by companies as did by Satyam Computer Services recently. It is also planning to issue guidelines to its members to review periodic record of companies to avoid possibility of alteration in company's balance sheet.

It is to be noted that Price Waterhouse has been associated with Satyam as an auditor for eight years and ICAI recently declined to take any action against it for audit mishandling, blaming management for this fraud.
 

Government may announce bail out package for beleaguered IT giant, Satyam Computer services for salary payout and to avoid large scale lay-offs. The company has 53,000 employees engaged in its various operations and their future is hanging in dark following revelation of largest ever corporate fraud in Indian history by its Chairman, Mr. R. Raju and other executives.
 

New Delhi, Jan. 13 : Union Home Minister P. Chidambaram met Army Chief General Deepak Kapoor, and National Security Guards (NSG) Chief J K Dutt, here today to discuss the progress in the setting up of regional hubs of the NSG.

Chidambaram asked the two chiefs to fasten the process of setting up the NSG regional hubs. He directed the two chiefs to make the proposed centers in Mumbai, Kolkata, Chennai and Hyderabad operational in the first phase.

After the terror attack on Mumbai on November 26, 2008 the Union government decided to set-up NSG hubs in different regions of the country.

New Delhi, Jan. 13 : Mounting pressure on Pakistan to bring the perpetrators of the November 2008 Mumbai terror attacks to book, Britain on Tuesday said that Islamabad has to crackdown on various terrorist groups operating from its soil.

"It is clear that the attacks originated from Pakistan, and Islamabad has to crack down on the militant outfits operating on its soil, such as Lashkar-e-Taiba (LeT) which has been blamed for the Mumbai attacks," Britain Foreign Secretary David Miliband said here today.

New Delhi, Jan 13 : The government today ordered the Serious Fraud Investigation Office (SFIO) to probe the Satyam scandal.

Delhi Cantonment (New Delhi), Jan 13 : Lieutenant General T K Sapru, GOC-in-C, Western Command on Tuesday said that the Pakistani Army is not making any movement along the border.

"Although the Pakistani Army is in action regarding the defensive measures and training, yet they aren''t making any movements along the border. We are always prepared whenever there is any need," said Lieutenant General T K Sapru, Indian Army.

Reviewing the awards investiture parade held at Army Parade Ground, Delhi Cantonment, Lieutenant General Sapru took the salute and presented various gallantry and distinguished service awards to outstanding men-in-uniform.