Comverse backdating

However, as promptly is not defined, this can be interpreted loosely.

How could an Indian company misuse this facility Say, the share price of a company say is Rs 100 on August 1. The firm can backdate its compensation committee meeting to August 2, use the price of August 1 as prescribed by Sebi, and grant options at Rs 100. The exchange is unlikely to question this, and even if it does, the firm can plea oversight, especially as no time limit is prescribed.

It is a securities fraud if one falsifies books and records.

It is a securities fraud if one presents financial statements that dont comply with accepted accounting principles.

How widesp-read is the practice of backdating There are no clear answers as of now.

However, a recent study by Indiana University's business school estimates that 18.9% of unscheduled gr-ants to top executives from 1996 to 2005 were backdated or manipulated.

What is the extent of such misuse in India For one, stock options are popular here too; firm data filed with NSE reveals that during May and June 2006, as many as 55 companies granted options valued at over Rs 360 crore.Millions of Americans hold stock options, including top CEOs.Why else would Apple CEO Steve Jobs, Yahoo CEO Terry Semel, and Google CEO Eric Schmidt ask for

What is the extent of such misuse in India For one, stock options are popular here too; firm data filed with NSE reveals that during May and June 2006, as many as 55 companies granted options valued at over Rs 360 crore.

Millions of Americans hold stock options, including top CEOs.

Why else would Apple CEO Steve Jobs, Yahoo CEO Terry Semel, and Google CEO Eric Schmidt ask for $1 in salary The fair value of options awarded by S&P 500 firms alone in 2000 was a staggering $104 billion.

It estimates that as many as 2,270 firms, or 29.2% of the sample, manipulated grants to top executives. The fraud is that these cases have not included full disclosure to shareholders, payment of extra applicable taxes, and earnings statements that reflect the modified grant dates.

Why did the Sarbanes-Oxley (SOX) law not change things After SOX took effect in August 2002, companies were to report stock option grants within two days.

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What is the extent of such misuse in India For one, stock options are popular here too; firm data filed with NSE reveals that during May and June 2006, as many as 55 companies granted options valued at over Rs 360 crore.Millions of Americans hold stock options, including top CEOs.Why else would Apple CEO Steve Jobs, Yahoo CEO Terry Semel, and Google CEO Eric Schmidt ask for $1 in salary The fair value of options awarded by S&P 500 firms alone in 2000 was a staggering $104 billion.It estimates that as many as 2,270 firms, or 29.2% of the sample, manipulated grants to top executives. The fraud is that these cases have not included full disclosure to shareholders, payment of extra applicable taxes, and earnings statements that reflect the modified grant dates.Why did the Sarbanes-Oxley (SOX) law not change things After SOX took effect in August 2002, companies were to report stock option grants within two days.

in salary The fair value of options awarded by S&P 500 firms alone in 2000 was a staggering 4 billion.It estimates that as many as 2,270 firms, or 29.2% of the sample, manipulated grants to top executives. The fraud is that these cases have not included full disclosure to shareholders, payment of extra applicable taxes, and earnings statements that reflect the modified grant dates.Why did the Sarbanes-Oxley (SOX) law not change things After SOX took effect in August 2002, companies were to report stock option grants within two days.

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That made backdating more difficult and it was believed this would curb the malpractice.

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