Over the last four years, the Directorate of Revenue Intelligence, or DRI, which is the investigative arm of the department of revenue in the finance ministry, has levelled allegations of over-invoicing of imports of coal and electricity generation equipment against at least forty of India’s biggest energy companies. The total amount involved in the scandal is an estimated Rs 50,000 crore, or more than eight billion dollars at the current exchange rate.Read more
New Delhi, India - On the morning of February 16, India's second-largest state-run bank, Punjab National Bank (PNB), quietly announced to stock exchange authorities in Mumbai that it has been defrauded of $1.8bn.
But things did not stay quiet. Within minutes, panic had broken out in India's financial markets. Indices tanked, especially bank share prices, as fears grew that the financial scandal was widespread.Read more
An anonymous letter written by a civil servant, addressed to Prime Minister Narendra Modi, has levelled serious allegations against the multinational consulting firm KPMG’s India operations.Read more
PARANJOY GUHA THAKURTA's work experience, spanning over four decades, cuts across different media: print, radio, television and documentary cinema. He is a writer, speaker, anchor, interviewer, teacher and commentator in three languages: English, Bangla and Hindi. His main areas of interest are the working of the political economy and the media in India and the world, on which he has authored/co-authored books and directed/produced documentary films. He teaches and speaks on these subjects. He participates frequently in, and organises, seminars and conferences. He is a regular contributor to publications and websites and frequently appears on the radio and on television channels as an anchor as well as an analyst. Paranjoy served as Editor of the Economic and Political Weekly from April 4, 2016 to July 18, 2017.