Contents
Foreword vii
About the Author ix
Chapter 1 Corporate Frauds and the
Macroeconomic Environment in India 1
Shell Companies and Accommodation Entry
Operators 4
Abuse of the Participatory Note 5
Nature of Real Estate Transactions 6
Hawala 6
The Impact of Corporate Frauds 7
Chapter 2 Financial Statement Frauds 11
Financial Statement Frauds to Induce Banks
and Financial Institutions 12
‘Purchase’ of Shares at High Premium 13
Transferring Shares to Subsidiaries at an
Inated Value 13
Over-valuation of Long Term Investments 14
Inating Turnover 16
Financial Statement Frauds to Retain Controlling
Stake 17
Financial Statement Frauds to Obtain Monetary
Incentives 18
Financial Statement Frauds to Obtain Undue
Benets 20