A casual question about the Nirav Modi episode recently nudged me to revisit the notes I had compiled seven years ago—notes that captured the anatomy of the massive fraud unearthed at Punjab National Bank in January 2018. I had used this case extensively in my corporate governance lectures as a telling example of governance failure […]
The Rise and Fall of Nirav Modi: Glamour & Greed Read More »
On March 10, 2025, IndusInd Bank—a well-known private bank in India—made a shocking announcement. It had been quietly accumulating financial losses for years, and only now, under pressure from a new Reserve Bank of India (RBI) directive, was it telling the public. The total hit? Nearly Rs 1,960 crore in losses, and a significant fall
What Went Wrong at IndusInd Bank? Derivatives Accounting Mess and Insider Trading Read More »
On April 15, 2025, the Securities and Exchange Board of India (SEBI) issued a scathing interim order against Gensol Engineering Limited (GEL), alleging serious governance failures: diversion of company funds for personal gain, falsification of documents, misleading disclosures, manipulation of share prices, and a systemic breakdown of internal controls. These findings stem from an investigation
Gensol Engineering and the SEBI Order: A Wake-Up Call for Corporate Governance Read More »
