Sebi warns investors against dealing with MCX Biz Solutions
Posted Date : 21-Nov-2013 , 08:54:48 pm | Posted By CASANSAAR
SEBI today cautioned general public and investors against dealing with MCX Biz Solutions and its proprietor Syed Sadaq, who were found running fraudulent investment schemes with fake and forged documents while using a name similar to that of an exchange group.
Market regulator said the re...
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SEBI |
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SC restrains Subroto Roy from leaving country
Posted Date : 21-Nov-2013 , 08:31:10 pm | Posted By CASANSAAR
The Supreme Court Thursday restrained Sahara Group chief Subrata Roy and two directors from leaving the country as they have failed to comply with its Oct 28 orders.
By its Oct 28 orders, the court directed the Sahara group's real estate and finance arm - Sahara India Real Estate ...
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Corporate Law |
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PwC re-appoints Deepak Kapoor as India chairman for 3 years
Posted Date : 21-Nov-2013 , 08:26:40 pm | Posted By CASANSAAR
Global consulting firm PwC today said it has re-appointed Deepak Kapoor as the Chairman of PwC India for three years beginning January 2014. "Deepak Kapoor has been re-elected for a second term as Chairman of PwC India network of entities, for a three year period beginning on 1 Jan 2014," it sa...
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Auditing |
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MCA release sixth tranche of draft rules under Companies Act 2013 in relation to Cost records and Cost Audit
Posted Date : 21-Nov-2013 , 08:02:36 pm | Posted By CASANSAAR
DRAFT RULES FOR COST AUDIT UNDER 6TH TRANCHE HAS BEEN PUT FOR PUBLIC COMMENTS. LAST DATE FOR GIVING SUGGESTIONS IS 6/12/2013.
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Corporate Law |
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CA institute acts against 2 senior partners of Lodha & Co
Posted Date : 21-Nov-2013 , 08:45:22 am | Posted By CASANSAAR
The Institute of Chartered Accountants of India has ordered the removal of Harsh Vardhan Lodha and Aditya Lodha from the member-rolls of the institute for three months on grounds of professional misconduct.
The two are senior partners of chartered accountant firm Lodha & Co. Harsh Vardh...
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ICAI |
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MCA release draft Rules for Winding Up for Public Comment
Posted Date : 21-Nov-2013 , 08:35:27 am | Posted By CASANSAAR
MCA release Draft rules for Winding up under 5th tranche and put for public comments. Last Date for giving suggestion is 19/12/2013.
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Corporate Law |
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0 | Hits : 815
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Bank employees threaten strike on Dec 19
Posted Date : 20-Nov-2013 , 10:00:35 pm | Posted By CASANSAAR
Employee unions in public sector banks today threatened to go on nation-wide strike on December 19 to press for early wage revision.
The United Forum of Bank Unions in a meeting held in Chennaidecided to go on strike on December 19, Ashwini Rana, General Secretary of the National Organis...
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Banking |
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Sebi proposes new regulations for employee stock options
Posted Date : 20-Nov-2013 , 08:06:46 pm | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (Sebi) has proposed a major overhaul of stock-related employee benefit schemes, to allow companies purchase shares from the open market.
The regulator, in January 2013, had prohibited secondary market purchases by employee welfare trusts or un...
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SEBI |
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0 | Hits : 776
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RBI asks NBFCs to take part in Lok Adalat on Nov 23
Posted Date : 20-Nov-2013 , 07:59:58 pm | Posted By CASANSAAR
The Reserve Bank today asked all the non-banking financial companies (NBFCs) to participate in the Lok Adalat on November 23 for settlement of any pending cases or dues.
"RBI has appealed to all Non-Bank Finance Companies (NBFCs) to participate in the Lok Adalat being organised by th...
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Banking |
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0 | Hits : 672
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Announcement
Posted Date : 20-Nov-2013 , 04:34:53 pm | Posted By CASANSAAR
IMPORTANT ANNOUNCEMENT
November 19, 2013
Subject: Zone-shifting of candidates for 15th December - 2013 CPT
Due to paucity of accommodation in certain Zones opted by the candidates in the cities of Chennai, Delhi and Indore, some of the candidates have been allotted examin...
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Students Zone |
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0 | Hits : 740
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PricewaterhouseCoopers to conduct special audit of MCX
Posted Date : 20-Nov-2013 , 10:47:25 am | Posted By CASANSAAR
The Forward Markets Commission (FMC) on Tuesday approved Price Waterhouse Coopers (PWC) as the auditor to conduct a special audit of MCX and Chokshi & Chokshi chartered accountants to conduct the forensic audit of NSEL’s e-series contracts.
The regu...
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Auditing |
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0 | Hits : 999
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RBI directs PSU banks to give loans to women self-help groups at 7 per cent
Posted Date : 20-Nov-2013 , 10:45:42 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Tuesday directed public sector banks to provide credit to women self-help groups at the rate of 7 per cent per annum so as to get the benefit of interest subvention scheme under the Swarnajayanti Gram Swarozgar Yojana-Aajeevika (SGSY) scheme.
"PSBs will be subvent...
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Banking |
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Cabinet likely to red-flag super-rich tax in DTC Bill
Posted Date : 20-Nov-2013 , 10:36:57 am | Posted By CASANSAAR
The proposal to levy a ‘super-rich’ tax, at the rate of 35 per cent, on those earning more than Rs 10 crore a year might not receive support of the Union Cabinet, which is to consider the Direct Taxes Code (DTC) Bill this month. This is because the government might not lik...
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Income Tax |
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Bharatiya Mahila Bank starts with 7 branches
Posted Date : 20-Nov-2013 , 10:32:31 am | Posted By CASANSAAR
Bharatiya Mahila Bank, the country’s first all-women commercial bank, commenced its operations on Tuesday with seven branches. However, doubts remain if the bank will succeed in achieving its objective of economic empowerment of women in remote villages.
“The setting up of the...
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Banking |
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0 | Hits : 1104
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Provide writers for disabled Students: Delhi HC to ICAI
Posted Date : 18-Nov-2013 , 09:30:42 pm | Posted By CASANSAAR
The Delhi High Court Monday directed the Institute of Chartered Accountants of India (ICAI) to prepare a panel of writers to assist disabled students in appearing for the chartered accountancy examinations that it conducts.
The court has asked that the panel be...
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Students Zone |
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Banks wrote off 1 lakh crore over last 13 years - RBI
Posted Date : 18-Nov-2013 , 08:53:15 pm | Posted By CASANSAAR
Reserve Bank deputy governor KC Chakrabarty has said banks have written off a whopping Rs 1 trillion in the past 13 years and criticised the lenders because as much as 95 per cent of these write-offs were for large borrowers.
"During the past 13 years what we see is t...
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Banking |
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0 | Hits : 828
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Sebi asks companies to improve quality of disclosure
Posted Date : 18-Nov-2013 , 08:45:38 pm | Posted By CASANSAAR
Securities and Exchange Board of India (Sebi) has directed stock exchanges to beef up their surveillance system to ensure the disclosure standard of listed companies is accurate and adequate.
The move is aimed at ensuring complete and timely information reaches investors to enable them ta...
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SEBI |
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0 | Hits : 718
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Non-applicability of Companies Act, 2013 for May 2014, Examinations - ICAI
Posted Date : 18-Nov-2013 , 05:37:31 pm | Posted By CASANSAAR
18th November, 2013
Important AnnouncementAttention: Intermediate (IPC) and Final Course studentsNon-applicability of Companies Act, 2013 for May 2014, Examinations
This is to bring to the notice of students that the Companies Act, 2013 notified in the Official Gazette on 30th August, 2013 (...
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Students Zone |
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0 | Hits : 1276
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RBI designates 29 bank branches to collect advance income tax
Posted Date : 18-Nov-2013 , 02:45:47 pm | Posted By CASANSAAR
Reserve Bank has designated 29 bank branches, including public and private banks to collect income tax payment in advance of the due date to avoid the last minute rush towards March-end.
State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Allahabad Bank, Punjab National Bank, Oriental Ba...
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Income Tax |
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0 | Hits : 773
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Banks' slippage-recovery-upgrade ratio at all-time high: RBI
Posted Date : 17-Nov-2013 , 09:46:56 pm | Posted By CASANSAAR
The banking system's slippage to recovery and upgradation ratio has shot up to 257 as of March 2013 from 217 in March 2011 as banks have failed to implement efficient and speedy measures for recovering stressed assets, according to the Reserve Bank.
This increase in the slippages ratio was a tad ab...
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Banking |
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0 | Hits : 766
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Axis Bank to be 'foreign-owned' after hike in overseas investments
Posted Date : 17-Nov-2013 , 09:43:40 pm | Posted By CASANSAAR
Axis Bank will become a "foreign- owned" lender, to be governed by FDI policy, following the go- ahead to its proposed increase in foreign investment holding to 62 per cent, entailing inflow of over Rs. 6,200 crore.
The proposal, recently cleared by the Foreign Investment Promotion Board,...
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Banking |
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0 | Hits : 802
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Sebi plans curbs on promoter trades in insider trading revamp
Posted Date : 17-Nov-2013 , 06:18:28 pm | Posted By CASANSAAR
Promoters and top executives, intending to buy or sell shares of their companies, may soon have to inform the market well in advance before such transactions. Securities and Exchange Board of India (Sebi), which is in the process of an overhaul of its insider trading rules, is considerin...
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SEBI |
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0 | Hits : 663
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EPFO may pay 8.5% interest on PF deposits this fiscal
Posted Date : 17-Nov-2013 , 06:08:27 pm | Posted By CASANSAAR
Retirement fund body EPFO will pay at least 8.5 percent rate of return on PF deposits for 2013-14 to its over 5 crore subscribers as provided in the previous fiscal and the decision in this regard could be taken as early as next month.
"The Employees' Provident Fund Organisation (EPFO) will...
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General |
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0 | Hits : 773
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Govt announces Bharat Ratna for Sachin Tendulkar
Posted Date : 16-Nov-2013 , 04:51:56 pm | Posted By CASANSAAR
The Government of India on Saturday decided to award the Bharat Ratna to Sachin Tendulkar, who incidentally retired the same day in the morning after playing his 200th Test in Mumbai.
Tendulkar and eminent scientist Professor CNR Rao were the two names announced by the government for the hi...
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General |
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0 | Hits : 927
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NSEL contract case: FMC shortlists Haribhakti & Co and Chokshi & Chokshi Chartered Accountants for e-series Audit
Posted Date : 16-Nov-2013 , 09:18:23 am | Posted By CASANSAAR
Commodity market regulator Forward Markets Commission (FMC) has shortlisted two Mumbai-based chartered accountancy firms — Haribhakti & Co and Chokshi & Chokshi Chartered Accountants — to conduct a forensic audit of gold and silver backing the socalled e-series bullion contracts ...
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Auditing |
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0 | Hits : 1107
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CBI arrests income tax officials for demanding bribe from complainant
Posted Date : 16-Nov-2013 , 09:13:36 am | Posted By CASANSAAR
Central Bureau of Investigation, anti-corruption branch, Mumbai registered a case against Satyanarayan Vanam, office superintendent of income tax, 21(2), Pratyaksha Kar Bhavan, Bandra Kurla Complex, Mumbai and Mehboob Shaikh, tax consultant for demanding bribe of Rs 50,000 from a complaina...
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Income Tax |
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0 | Hits : 899
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New banking licences should not go to
Posted Date : 16-Nov-2013 , 09:12:44 am | Posted By CASANSAAR
Union Finance Minister P. Chidambaram, on Friday, suggested that the Reserve Bank of India (RBI) should not issue new banking licences to entities that clone the existing banks.
“Most banks are clones to each other. I am inclined to think that there is more cloning than differentiatio...
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Banking |
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0 | Hits : 649
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Sebi to come out with detailed corporate disclosure norms
Posted Date : 15-Nov-2013 , 05:16:15 pm | Posted By CASANSAAR
Market regulator Sebi is likely to come out with detailed guidelines on corporate disclosures on Monday, aiming to improve the quality of giving out information by companies.
"Today, there are 1,100 companies which are not compliant with the requirement of clause 35 of shareholding pat...
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SEBI |
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0 | Hits : 631
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Exposure Draft on Investment Entities (Amendments to Ind AS 110, Ind AS 112 and Ind AS 27)
Posted Date : 15-Nov-2013 , 08:33:35 am | Posted By CASANSAAR
The ICAI has issued this exposure draft on Investment Entities which includes amendments to Ind AS 110 Consolidated Financial Statements, Ind AS 112 Disclosure of Interests in Other Entities and Ind AS 27 Separate Financial Statements. The exposure draft is open for public commen...
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ICAI |
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0 | Hits : 809
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NSEL crisis: Spot exchange acting as NBFC without RBI nod, warned auditor in 2011
Posted Date : 14-Nov-2013 , 09:15:53 pm | Posted By CASANSAAR
The management and the board of the National Spot Exchange (NSEL) ignored an internal audit report prepared way back in 2011, which noted that the spot exchange was acting as a non-banking finance company (NBFC) without formal approval from the Reserve Bank of India (RBI).
The audit report ...
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Auditing |
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