Government needs internal system to settle disputes with private companies
Posted Date : 24-Apr-2013 , 09:52:55 pm | Posted By CASANSAAR
Planning Commission Deputy Chairman Montek Singh Ahluwalia today pitched for an internal system by government for settling disputes with private sector players to improve business climate in the country. "Government should set up internal mechanism (for settling dispute...
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Corporate Law |
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Women Empowerment - Archana Bhargava appointed as CMD of United Bank of India
Posted Date : 24-Apr-2013 , 06:51:12 pm | Posted By CASANSAAR
The Centre has appointed Archana Bhargava as Chairman & Managing Director of United Bank of India, a public sector lender.
Prior to this appointment, Bhargava was an Executive Director at Canara Bank (since April 1, 2011).
She has assumed charge of her new posting on Tuesday at...
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Banking |
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No application yet to RBI for setting up new pvt banks: Govt
Posted Date : 24-Apr-2013 , 08:40:13 am | Posted By CASANSAAR
The Reserve Bank has not yet received any application for the setting up of more private sector banks under the new licensing norms released in February, Parliament was informed today.
RBI had invited applications two months ago and the last date is July 1, 2013.
"RBI has informed that as on date ...
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RBI |
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Listed cos must comply with Sebi's public-holding norms: FM
Posted Date : 24-Apr-2013 , 08:37:35 am | Posted By CASANSAAR
Finance minister P Chidambaram on Tuesday said listed companies must comply with the Securities and Exchange Board of India's (Sebi) minimum public shareholding requirement as enough time has been given to them by the market regulator.
"Companies have been given enough time...(they) should ...
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SEBI |
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I-T Assessees stumped by adjustment notice of tax arrears with refund amount
Posted Date : 23-Apr-2013 , 09:58:09 pm | Posted By CASANSAAR
Please refer to the return of income filed by you for PAN AXXXXXXXXA for Assessment Year 2012-13...The refund determined in this proceeding is being adjusted against the outstanding demands....''
In the last few months, several taxpayers have received similarly worded notices from the I-T Departmen...
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Category :
Income Tax |
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SEBI starts fresh probe into fund-raising activities of Saradha group
Posted Date : 23-Apr-2013 , 09:19:22 pm | Posted By CASANSAAR
The Securities and Exchange Board of India, SEBI, has begun a fresh probe into the fund-raising activities of the Kolkata-based Saradha group.The capital market regulator is looking into whether its Collective Investment Scheme (CIS) regulations were violated while raising funds from the public, a s...
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SEBI |
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Taxman calls on Microsoft India for understating income
Posted Date : 23-Apr-2013 , 09:00:20 pm | Posted By CASANSAAR
After Nokia and Royal Dutch Shell, the Income Tax (I-T) department has sent a demand notice to software giant Microsoft’s Indian arm, which said it has challenged the same.
I-T department reportedly sent notice to Microsoft seeking details of its income from Indian operations for four...
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Income Tax |
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Chris Gayle scores fastest century in cricket history during IPL game
Posted Date : 23-Apr-2013 , 06:38:38 pm | Posted By CASANSAAR
Chris Gayle has set a new record for the fastest century in the history of professional cricket with an astonishing ton off just 30 balls for the Royal Challengers Bangalore in the Indian Premier League, then went on to make the highest score ever seen in Twenty20, ending unbeaten with 175 off ...
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General |
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Punjab govt to launch online VAT refund system
Posted Date : 23-Apr-2013 , 08:56:05 am | Posted By CASANSAAR
The Punjab government will launch an online VAT refund system for traders and industrialists, Deputy Chief Minister Sukhbir Singh Badal today said.
Speaking at a meeting with industry delegation from Ludhiana here, Badal asserted that the functioning of state excise and taxation department ...
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VAT |
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Career Opportunities At Institute Of Company Secretaries Of India - Apply online from 24th April 2013
Posted Date : 23-Apr-2013 , 08:52:20 am | Posted By CASANSAAR
The ICSI, a premier professional body constituted under an Act of Parliament, invites applications for the following posts at its headquarters, Regional offices and Chapter offices across India :-
Name of the Post
Pay Band & Grade Pay(Rs.)
Max. Age(as on 01.04.2013)
Total No...
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Income Tax |
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Saket Modi, The 22 Yr Old Who Saves RBI From Deadly Hackers
Posted Date : 23-Apr-2013 , 08:38:36 am | Posted By CASANSAAR
This story of a 22 year old who fabricated his skills and talents for the goodwill of Indian government is truly an inspiring one. So, what is the ‘so’ inspiring part? Well, it’s quite not that common where you get to see a young lad (that too a 22 year old) become the ‘India...
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General |
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Sebi allows 47 alternative funds to operate in India
Posted Date : 23-Apr-2013 , 08:33:07 am | Posted By CASANSAAR
Market regulator Sebi has allowed 47 entities to set up AIFs - newly created class of pooled-in investment vehicles for real estate, private equity and hedge funds, over a period of ten months. The 47 Alternative Investment Funds (AIFs) have been registered w...
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SEBI |
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0 | Hits : 307
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Internet sales tax faces US Senate vote, Barack Obama backs
Posted Date : 23-Apr-2013 , 08:25:14 am | Posted By CASANSAAR
A measure that would empower US states to require out-of-state retailers to collect online sales tax won backing from President Barack Obama on Monday and is expected to pass a legislative test vote in the Senate later this evening. The bill will be the subject of a procedur...
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Category :
International Business |
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Provision for Corporate Social Responsibility
Posted Date : 22-Apr-2013 , 09:02:53 pm | Posted By CASANSAAR
Under Companies Act, 1956 there is no provision for Corporate Social Responsibility (CSR) but the Companies Bill, 2012 incorporates a provision of CSR under Clause 135.
This Clause states that every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1,000 crore or more o...
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Corporate Law |
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Monetary Ceilings of Salaries for the Corporate Sector including CEOS and CFOS
Posted Date : 22-Apr-2013 , 09:00:33 pm | Posted By CASANSAAR
There are no monetary ceilings of salaries laid down in the Companies Act,1956 for personnel serving in the corporate sector including CEOs, CFOs and Directors thereof.
Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate...
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Category :
Corporate Law |
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Bride leaves wedding to report on earthquake in China
Posted Date : 22-Apr-2013 , 02:19:41 pm | Posted By CASANSAAR
Dedicated reporter Chen Ying didn’t let her wedding day get in the way of reporting a major news story. She was having her make-up put on at a photographic studio just before her ceremony when a devastating 6.6 magnitude earthquake struck the city of Ya’an.
After a qui...
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Category :
International Business |
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Panel rejects RBI offer to limit FII investment in sec mkt
Posted Date : 22-Apr-2013 , 09:16:09 am | Posted By CASANSAAR
A government committee has turned down an RBI proposal to limit FII investments in the secondary market, considering the significant role foreign investments can play in propping up the economy.
"The suggestion made by the RBI of limiting FII investments to secondary market was discussed. I...
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Shares & Stock |
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RIP Shakuntala Devi: Math genius who once had to drop out of school because her parents couldn't afford fee of Rs 2
Posted Date : 21-Apr-2013 , 08:35:21 pm | Posted By CASANSAAR
World-renowned mathematical wizard and astrologer, aptly known as the Human Computer born in Namma Bengaluru, Shakuntala Devi passed away in a private hospital in the city on Sunday.
She was admitted to the hospital two weeks ago due to respiratory and heart related problems. She died of ca...
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General |
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FinMin asks banks to get ready for 2nd phase of DBT scheme
Posted Date : 21-Apr-2013 , 07:40:10 pm | Posted By CASANSAAR
With government set to launch the second phase of Direct Benefit Transfer(DBT) scheme, Finance Ministry has asked PSU banks to put in place robust automated systems to ensure that the beneficiaries list does not undergo any changes. "All banks...need to have robust automated syst...
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Banking |
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Sebi, other agencies to join forces against investment frauds
Posted Date : 21-Apr-2013 , 07:38:03 pm | Posted By CASANSAAR
Amid a countrywide proliferation of fraud investment schemes, markets watchdog Sebi is joining forces with other agencies, including RBI, SFIO, Enforcement Directorate and state police departments, to tackle the menace. A large number of fraudulent schemes have come to the f...
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Category :
SEBI |
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Listed companies top in terms of pending investor complaints
Posted Date : 21-Apr-2013 , 07:36:23 pm | Posted By CASANSAAR
About two dozen companies, including state-run giants like ONGC and Coal India, had investor complaints pending against them for more than two months at the end of last fiscal, as per Sebi data.The latest data available with Sebi Complaints Redress System (SCORES) shows that a to...
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Category :
Corporate Law |
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Banks Will Now Be Fined Rs 1 Cr For Violating Every Single Norm
Posted Date : 20-Apr-2013 , 04:55:46 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) will now be able slap a penalty of Rs 1 crore on banks if they breach a single norm. If more than one norm is breached, then the fine will be multiples of Rs 1 crore. Earlier, the fine was Rs 5 lakh for a single violation.
The new norm came into effect after Section ...
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Banking |
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Company secretaries quit as firms grapple with governance lapses
Posted Date : 20-Apr-2013 , 10:19:03 am | Posted By CASANSAAR
Most of them are quintessential backroom boys whose job is to keep companies they work for on the right side of law. And, it's they who often end up paying an immediate price when employers indulge in sharp practices. The quiet exits of these professionals from listed companies in recent t...
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Category :
ICSI |
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Independent directors may have classes to attend before getting boards to Govern
Posted Date : 20-Apr-2013 , 08:29:52 am | Posted By CASANSAAR
If the ministry of corporate affairs has its way, independent directors in the country may soon see themselves in classrooms before they get into board rooms. The ministry is working on a proposal to develop "a training module" for independent directors to provide them a snap course on corporate gov...
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Category :
Corporate Law |
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0 | Hits : 369
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Forex reserves jump $1.4 bn to $295 bn
Posted Date : 20-Apr-2013 , 08:17:06 am | Posted By CASANSAAR
India's forex reserves jumped for the second consecutive week, rising USD 1.40 billion to stand at USD 295.25 billion for the week ended April 12, due to an increase in core currency assets. The reserves had gained USD 1.19 billion to USD 293.84 billion in the previous week. Fore...
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RBI |
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Clubbing allowances with basic pay for PF deduction on cards
Posted Date : 19-Apr-2013 , 06:32:28 pm | Posted By CASANSAAR
Decks have been cleared for clubbing of allowances with basic pay for PF deductions under the EPFO scheme, a move that will increase savings but reduce take-home pay of over 5 crore subscribers. A review committee, constituted to look into the nitty- gritty of club...
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General |
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0 | Hits : 408
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Microsoft most attractive employer in India: survey
Posted Date : 19-Apr-2013 , 04:15:15 pm | Posted By CASANSAAR
IT and software major Microsoft has emerged as India's most attractive employer for the third straight year in 2013, according to a survey by HR service firm Randstad.
The company was followed by Hewlett Packard and Google India in the second and third positions, respectively.
Othe...
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General |
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Sebi may move to T+1 trade settlement cycle
Posted Date : 19-Apr-2013 , 08:26:12 am | Posted By CASANSAAR
The Securities and Exchange Board of India (Sebi) is looking at the possibility of shortening the trade settlement cycle for domestic stocks.
In a discussion paper on Thursday, the capital markets regulator invited suggestions for the proposal to cut the trading settlement to the first day after th...
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SEBI |
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RBI to come up with new model to curb tax evasion
Posted Date : 18-Apr-2013 , 10:16:43 pm | Posted By CASANSAAR
The Reserve Bank Of India has decided to come up with a new model to curb tax evasion, post Cobrapost revelations.
On Wednesday, reacting to RBI’s probe report on Cobrapost sting, banking secretary Rajiv Takru had noted that audit report pointed towards some severe Know Your Customer (KYC) ...
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RBI |
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Govt hikes DA to 80%; to benefit 80 lakh employees, pensioners
Posted Date : 18-Apr-2013 , 10:13:13 pm | Posted By CASANSAAR
Union Cabinet today approved the proposal to increase dearness allowance (DA) to 80 per cent, from existing 72 per cent, benefiting about 50 lakh employees and 30 lakh pensioners of the central government. The hike would be effective from January 1, 2013 and the employees and pensioners wi...
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General |
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