...* Adonis Projects, Nahan Properties, Aska Projects, Volga Properties, Azare Properties & Hudson Properties were acquired by Unitech. Unitech Infrastructure and Unitech Builders & Estates were already subsidiaries of Unitech Group. So in 2008 Unitech had 22 2G licenses. Later in the same year Norway based company Telenor bought majority stake in the telecom company from the Unitech Group. Now it offers services under Uninor brand holding 22 pan India licences. * Operates under brand name Videocon Telecommunications Limited- 21 2G licenses * Loop telecom-21 2G licenses * Shyam Telelink Limited & Shyani Telelink Limited operate together with their combined 21 licenses. During late 2008 Russia based group Sistema bought majority stake in the telecom company and now they operate under brand name MTS India * In 2008, Swan Telecom (15 2g licence) merged itself with Allianz Infratech (P) Ltd. During late 2008 Abu Dhabi's Etisalat bought about 45 percent of the company and renamed it to Etisalat DB Telecom. * Idea Cellular bought Spice Communications Ltd. in 2008 for an amount of 2,700 crore (US$488.7 million). So out of 122 spectrum licenses sold in 2008 Idea Cellular owns 13 licenses. However of the 13 licenses, only 7 of the licenses are in use by the company and the rest are overlapping licenses. * In January 2009, Bahrain Telecommunications signed a deal with S Tel to buy 49% shares in S Tel for $225 million. C Sivasankaran owns the remaining (51%)...
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...490 Employee travel A tax and NICs guide for employers This guide sets out HM Revenue & Customs (HMRC) approach in applying the legislation on employee travel. The guide itself has no binding force in law and does not affect any right of appeal by either party. Contents Chapter 1 – Introduction 1.3 1.7 1.8 1.9 Overview The basis of tax relief for employee travel and subsistence Some outline examples National Insurance contributions 4 4 5 5 6 7 7 8 8 9 9 10 10 11 11 12 15 15 16 16 17 18 19 20 21 21 23 23 24 25 26 26 27 28 31 31 31 32 32 33 34 34 35 36 36 36 37 Page 2 Chapter 2 – Whether or not travel qualifies for relief 2.5 2.7 2.9 2.10 2.11 Travel in the performance of the employee’s duties Travel to a place where attendance is in the performance of duties Travel between employments Travel between separate employers within a group Joint projects Chapter 3 – Ordinary commuting and private travel 3.2 3.9 3.10 3.11 3.12 3.16 3.17 3.18 3.19 3.20 3.23 3.25 3.28 3.31 3.33 3.38 3.39 3.40 3.42 What is ordinary commuting? Permanent workplace Regular attendance at a workplace Limited duration – the 24-month rule Breaks in attendance No requirement to return to a permanent workplace Fixed-term appointments Agency workers People with more than one workplace at the same time Attendance for a temporary purpose Depots and similar bases Employees who work at home Private travel Duties defined by reference to a particular area When a workplace ceases to be a permanent workplace...
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...Satyam Likely To Exist Post Scam : Gartner Study 3,300 views Although several companies are trying to have a bite into Satyam Computers, according to Gartner study, the company is likely to exist in its current form. It is expected to discontinue some of its businesses, service lines or cease to exist in certain geographies by 2010. The study indicated that even the name Satyam may not be around by that time, as the company is expected to undergo a complete change, in ownership and organizationally. Satyam’s ability to sign on new clients during 2009 has significantly diminished, says the study. ‘‘In addition, it will be challenged to invest in client engagements, staff developments or R&D, all critical elements for IT services,’’ said Gartner’s V-P for research, Frances Karamouzis. Read more Posted by Satyam Fraud News Reporter on Sunday, February 1, 2009 at 7:46 am Filed under Impact Of Satyam Scam On Indian Economy Ex-Satyam Director Resigns From Sasken Board 1,536 views Serial entrepreneur and NewPath Ventures co-founder Vinod K Dham resigned from the board of Sasken Communications as an independent director, a top official of the communications solutions provider said on Monday. “Yes, Dham has resigned as a director of the company from the board on January 17,” Sasken chairman and managing director Rajiv C. Mody told IANS but declined to elaborate. “We will inform you later, as we are busy with investors and analysts in a conference call on our third quarter...
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...https://www.youtube.com/watch?v=jnRmmDiz5aY https://www.youtube.com/watch?v=bauzUSu2v5k http://www.thehindu.com/specials/timelines/satyam-scandal-who-what-and-when/article7084878.ece http://cbi.nic.in/fromarchives/satyam/satyam.php http://www.dnaindia.com/money/report-all-that-you-need-to-know-about-the-satyam-scam-2067138 https://en.wikipedia.org/wiki/Satyam_scandal http://www.hindustantimes.com/business/satyam-scam-all-you-need-to-know-about-india-s-biggest-accounting-fraud/story-YTfHTZy9K6NvsW8PxIEEYL.html http://www.business-standard.com/article/economy-policy/in-case-of-satyam-issue-is-not-just-about-money-but-biz-ethics-109051100040_1.html http://rammallar.blogspot.in/2013/04/satyam-scam-is-it-failure-of-business.html http://www.termpaperwarehouse.com/essay-on/Satyam-Scam-And-Ethics/198522 http://www.researchgate.net/publication/271133751_CORPORATE_ACCOUNTING_SCANDAL_AT_SATYAM_A_CASE_STUDY_OF_INDIA'S_ENRON (point 5) http://www.scirp.org/journal/PaperDownload.aspx?paperID=30220 https://www.scribd.com/doc/73590653/Satyam-Fraud-Ethical-Corporate-Governance (page 9 onwards imp) http://knowledge.wharton.upenn.edu/article/scandal-at-satyam-truth-lies-and-corporate-governance/ The Satyam Computer Services scandal is a corporate scandal that worked in India in 2009 where chairman Ramalinga Raju confessed that the company's accounts had been falsified. The Global corporate community was shocked and scandalised when the chairman of Satyam, Ramalinga Raju resigned on 7 January 2009...
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...Keylogger Scam 2 The word "Key Logger" is also called "KeyLogging". The Keystroke logging is used to track user's key stroke during software development. The typical use of this tool is to increase efficiency of employee in data entry or word processing related work. The tool is also used in software development and for monitoring activities on computers under surveillance or used by government agencies monitoring criminals or parties interested in decoding passwords for computer networks. In order to be able to tell if you have key logger spyware on your computer, you need to know what it is and understand how it works. This spyware is an invisible software program that is used by identity thieves to track your activity online. Unfortunately, it is nearly impossible to know if you have this software on your computer and it does not matter how careful you are, you will never be able to tell if your information personal information is being recorded. This is scary since those who use key logger spyware are usually after your bank account passwords and credit card numbers. The recording of key strokes on keyboard can be done either by software or hardware. The hardware attachment comes portable which can be attached to keyboard for recording. There are some keyboards, which has it already built-in. On software side key logging can be written as software program and then downloaded on computer or computer network, this program secretly records user's...
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...Scandal “. This crisis identified in the year 2012 and it has been took place from the year 2010 and finally disclosed in 2012. To learn lesson from this incident and prevent further recurrence, study in depth of this crisis is very important. Background: A central bank probe found that Sonali Bank high-ups, including a deputy managing director, a general manager and the branch manager, were directly involved in the scam. The amount embezzled by the six entities is equivalent to almost 15 percent of the total estimated cost of the $2.9 billion Padma bridge project. Of Tk. 3,547 crore, Hallmark Group alone took away Tk. 2,686.14 crore, T and Brothers Tk. 609.69 crore, Paragon Group Tk. 146.60 crore, Nakshi Knit Tk. 66.36 crore, DN Sports Tk. 33.25 crore and Khanjahan Ali Tk. 4.96 crore. Of the six borrowers, Hallmark has been found to be the biggest fraudster. Analysis and Research: Bangladesh experienced the biggest financial scam in the year 2012 which is commonly known as the “Hallmark-Sonali Bank Loan Scandal “. To understand, analyze and research this scam in depth, let’s look for the answer of the following questions: . What happened? . How did it happen? . Why wasn’t the malpractice prevented or discovered sooner? . What has been the fall out? . Is it Hallmark’s success or failure of Sonali bank? The first question is: What happened? In May 2012, a report from the Bangladesh Bank revealed that, the Ruposhi Bangla Hotel Branch of the state-owned Sonali...
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...CYBER SCAM AND ITS EFFECTS November 27, 2011 SUBMITTED BY: FETALVER, FRANCIS VIOLETA, ROGENE CRIS SUBMITTED TO: MRS. MARY GRACE P. ALFANTA I Introduction Background of the Study Experts and law-enforcement officials who track Internet crime say scams have intensified in the past six months, as fraudsters take advantage of economic confusion and anxiety to target both consumers and businesses. Thieves are sending out phony emails and putting up fake Web sites pretending to be banks, mortgage-service providers or even government agencies like the Federal Bureau of Investigation or the Federal Deposit Insurance Corp. Cell phones and Internet-based phone services have also been used to seek out victims. The object: to drain customer accounts of money or to gain information for identity theft. Most scams are done by e-mail (Spam). They entice users to give them critical information like usernames, passwords, credit card information, or other types of account information. Most of these e-mails can easily be identified as fraudulent, by identifying a couple of general characteristics. If someone pretending to represent a company or organization contact you by e-mail to supply them with usernames, passwords or other critical information by e-mail, then you can be certain it’s fraudulent. Today we have something we call SSL (Secure Socket Layer). E-mail is one of the most un-secure methods to send user information and passwords. Most organizations...
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...The 10-Billion Pork Barrel Scam The Priority Development Assistance Fund (PDAF) more commonly known as Pork Barrel is a budgetary allocation that is given to the House of Representatives and the senate from 2006. ₱70 Million for each of the congressmen and ₱200 Million for each of the senators. This fund should be used for financial assistance in development projects which the senate and congressmen would sponsor. However, on August 2013 a public outrage have blasted after whistleblower Benhur Luy have alleged that Janet Lim-Napoles, a Filipino-born Chinese woman was behind the P10 billion scam that also involved several senators and congressmen. They have allocated their PDAF to ghost projects which were “implemented” through Napoles’s companies but have produced no tangible output. Napoles, who specialized in trading agricultural products, frequently used the procurement of agricultural inputs in the propagation of the scam. Either her employees would write to legislators requesting for funds for the implementation of a particular project (e.g. farm inputs), or a legislator would indicate to the DBM a particular recipient agency for his or her PDAF funds that would be pre-selected by Napoles. Once received, this is forwarded to the DBM, which would then issue a Special Allotment Release Order (SARO) indicating the amount deducted from the legislator's PDAF allocation, and later a Notice of Cash Allocation (NCA) given to the recipient agency. The NCA would then be deposited...
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...2G Scam an UPDATE From the time allegations of misappropriation during the bidding for allocation of 2G spectrum surfaced, till Telecom Minister A Raja's ouster, high drama charged both politics in Delhi and Tamil Nadu. So what exactly is the Spectrum Scam that led to all this? WHAT IS SPECTRUM SCAM? • 2G licenses issued to private telecom players at throwaway prices in 2008 • CAG: Spectrum scam has cost the government Rs. 1.76 lakh crore • CAG: Rules and procedures flouted while issuing licenses WHAT ARE THE CHARGES ON FORMER TELECOM MINISTER A RAJA? CHEAP TELECOM LICENSES • Entry fee for spectrum licenses in 2008 pegged at 2001 prices • Mobile subscriber base had shot up to 350 million in 2008 from 4 million in 2001 NO PROCEDURES FOLLOWED • Rules changed after the game had begun • Cut-off date for applications advanced by a week • Licenses issued on a first-come-first-served basis • No proper auction process followed, no bids invited • Raja ignored advice of TRAI, Law Ministry, Finance Ministry • TRAI had recommended auctioning of spectrum at market rates FAVOURITISM, CORPORATES ENCASH PREMIUM • Unitech, Swan Telecom got licenses without any prior telecom experience • Swan Telecom given license even though it did not meet eligibility criteria • Swan got license for Rs. 1537 crore, sold 45% stake to Etisalat for Rs. 4200 crore • Unitech Wireless got license for Rs. 1661 crore, sold 60% stake for Rs...
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...------------------------------------------------- Ethics and Values in Management Interim Report February 10, 2014 February 10, 2014 Submitted to: Prof. N. R. Govinda Sharma Submitted by: Group C10 Submitted to: Prof. N. R. Govinda Sharma Submitted by: Group C10 Table of Contents Introduction: 2 Ethical Issues Involved 2 1. Not Following Corporate Governance Norms 2 2. Tampering the financial data - 2 3. Misleading the Shareholders Fund- 3 4. Insider trading at Satyam- 4 Ethical Dilemma faced by Ramalinga Raju 4 Theories and Approaches that may be used to resolve dilemma 5 Hosmer’s Six Step Process: 5 Kohlberg Model: 6 Recommendations for Resolving the dilemma 8 Conclusion 9 References 9 Introduction: The Satyam Computer Services’ scandal brought to light the importance of ethics and its relevance to corporate culture. The fraud committed by the founders of satyam is a testament to the fact that “the science of conduct” is swayed in large by human greed, ambition, and hunger for power, money, fame and glory. Scandals to the recent financial crisis have time and again proven that there is a need for good conduct based on strong ethics. we examine the gross negligence of stakeholder concerns and over indulgence of key management on a personal and organizational level in immortal practices for personal benefit. We also assess the implications of ethics in the business...
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...Scams on the Internet Charity Rittman Com/150 Dr. Maisah Robinson May 14, 2010 Scams on the Internet Thieves are always finding ways to steal individual’s money or personal information. The Internet, phone and the United States mail service have quickly become preferred methods of perpetrating crimes. These mediums provide predators with a safe platform to run scams with little risk of their identities revealed. Knowledge and education are the keys to confronting these types of crimes. The e-mails have misspellings, poor grammar and run-on-sentences. Please keep in mind that common sense is the best defense concerning cons and scams: if something seems too good to be true, it probably is, and if something does not seem attainable, it probably is not. If anyone receives these bogus e-mails do not reply or click on any links attached to it; attachments may contain codes or viruses that could infect the person computer. The scams now being implemented are too numerous to list, though most are just a different version of scams previously used and found to be successful for these would be successful for these would-be criminals. The tricks and scams are the same just different people doing the same con games. The internet has made it easy to retrieve information, almost an open book to anyone with a computer. Some of the favorite frauds are: • Ponzi schemes promise high returns , early investor only benefit • Affinity fraud use religious...
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...According to Parris, “As a reshipper you will receive packages at your home that are often filled with tech devices such as laptops, iPhones, etc.” “You’ll open these packages, sometimes testing to ensure that they work, and then repackage them and ship them to an overseas location” (Parris, 2016, p.1). The reshippers scam is to scam people who are looking for jobs. In most cases scammers like to concentrate on students, single mother’s, and people below the poverty level. Scammers scam people into actually believing reshipping is an actual job. How does it work? It starts by sending a person an email to their personal email address, asking if they would like to work for a company that is affiliated with the United States Postal Service. Once...
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...now, there are two sides to the argument. The Christian Science Monitor Editorial Board, Davis Leonhardt, John Stossel, and Marty Nemko all wrote articles based on what they feel a current college education is worth. Though they all agree that college is a major issue at the moment, their opinions are different from each other. The Monitor Editorial Board believes that the United States needs college graduates and encourages people to attend college. David Leonhardt points out that college isn't very expensive and that having a degree is better than nothing. John Stossel believes that college is a scam and that you don't have to be a college graduate to be successful in life. Finally, Marty Nemko points out some flaws in the college system that students may face. All of these articles are tied together and have arguments on both sides of the issue on whether college is a scam and if a degree is worth anything. Many people and colleges tell students that people with a college education make more money than just a high school graduate. "Hillary Clinton tells students: 'Graduates from four-year colleges earn nearly twice as much as high school graduates, an estimated $1 million more'" (Stossel). Stossel argues that this is not necessarily true. Stossel believes that who did better in high school would've made more money in the first place anyways. He also goes on and states that students would have had...
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...Ryan Scott Dr. Dunn ENG 100.12 Proposal 11/13/13 Pay for Play? Define Problem: Last year the NCCA signed a 14-year, $10.8 billion dollar contract with CBS and Turner Sports to allow them to broadcast the annual March Madness of college basketball on their channel. The Bowl Championship series of college football also signed a $125 million dollar deal with ESPN (Ford 1). Depending on how deep of a run you make in March Madness or a big win in a highly anticipated BCS bowl game, teams could potentially bring in millions of dollars to their university. But the men and women who are the ones on the field putting their body and wellbeing on the line are the same ones who see absolutely none of that money. How can this even be possible? College athletes, who put in just as much time if not more than an actual job, receive no type of money for the amount of revenue that they bring in. Sure they get an athletic scholarship that pays for most of their schooling but, not for everything outside of that. There is more to college than just books and schoolwork. People still need to buy food, pay bills, gas, and just everyday essentials. When writer William J. Ford asked senior guard Gary Clark from Wake Forest University about the topic he said “At a lot of schools, players come from underprivileged families. I know we are getting a scholarship, but some folks don’t have cash to get something to eat when the school cafeteria is closed, or money to buy a used car,” he continues. “I...
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...Financial Frauds in India The 2G scam Aniruddh Narsimhan - P35114 Disha - P35125 Manu Vatayan – P35149 Mrinalini - P35152 Svethal Bhasin - P35188 2G spectrum scam took place in India in late 2000’s which involved politicians and government officials who tried illegal undercharging mobile telephone companies for frequency allocation licenses, which they would then use to create 2G spectrum subscriptions for mobiles. The entire process of allocation of UAS licences lacked transparency and was undertaken in an arbitrary, unfair and inequitable manner. The Hon'ble Prime Minister had stressed on the need for a fair and transparent allocation of spectrum. Let us understand the intricacies of the scam. What is Spectrum? Radio Frequency Spectrum is the entire range of wavelengths of electromagnetic radiation which is used as carrier of wireless transmission and thus a basic requirement for providing wireless services. It is a finite but non-consumable global natural resource and commands high economic value in the telecommunication sector In simple words , Whenever data is being transferred from one place to another, say Ahmedabad to Mumbai. So, If data was a “truck”, how would you transport it from Ahmedabad to Mumbai ? Obviously through a path. Spectrum is that path. Radio frequency spectrum, i.e., the entire range of wavelengths of electromagnetic radiation, is a finite global natural resource with a high economic value, due to its heavy demand in the telecommunications...
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