Day: September 19, 2015

The Serious Fraud Investigation Office or SFIO is probing alleged mismanagement of over Rs 8,000 crore of funds since 2005, when liquor baron Vijay Mallya’s UB Group-controlled Kingfisher Airlines and United Spirits

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United Spirits Falls on Inquiry Over Vijay Mallya’s Kingfisher Airlines
NDTV
16 September 2015
United Spirits shares traded down for a second consecutive session, falling as much as 1.6 per cent against 0.8 per cent gain in the broader markets on Wednesday. Traders attributed the selling in United Spirits – India’s biggest liquor company- to the ongoing investigation in former group firm Kingfisher Airlines over alleged diversion of funds.

The Serious Fraud Investigation Office or SFIO is probing alleged mismanagement of over Rs 8,000 crore of funds since 2005, when liquor baron Vijay Mallya‘s UB Group-controlled Kingfisher Airlines and United Spirits, according to media reports. Continue reading →

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Pressure to show a profit led to Toshiba’s accounting scandal; Toshiba auditors say being investigated by Japan regulators

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http://www.japantimes.co.jp/news/2015/09/18/business/corporate-business/pressure-to-show-a-profit-led-to-toshibas-accounting-scandal/#.Vf05ovmqpBc

Pressure to show a profit led to Toshiba’s accounting scandal

BY KAZUAKI NAGATA

STAFF WRITER

SEP 18, 2015

Manufacturing giant Toshiba Corp.’s president and seven other directors were forced to resign when an investigation revealed in July that the firm had doctored the books and had padded its profits over the past seven years to the tune of hundreds of billions of yen. The case is one of Japan’s biggest corporate scandals in years. The 140-year-old company is set to make a fresh start on Sept. 30 when it holds an emergency shareholder meeting to approve a new management team. But what was going on with Toshiba and why was it inflating its profits? Here are some questions and answers about Toshiba’s accounting problems. Continue reading →

Will YuuZoo’s new funding deal wreck its share price?

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http://www.businesstimes.com.sg/opinion/will-yuuzoos-new-funding-deal-wreck-its-share-price

Will YuuZoo’s new funding deal wreck its share price?

anita gabriel

18 September 2015

Business Times Singapore

IT may come across as a simple deal, but YuuZoo Corp’s recently announced S$30 million funding facility from US-based fund GEM Global is by no means heartening for investors saddled by the anaemic showing of its stock since its debut on the Singapore Exchange a year ago. Continue reading →