MCA 21 Portal Crosses the Milestone of 1 Lakh Filings on One Single Day
Posted Date : 29-Oct-2013 , 07:18:15 pm | Posted By CASANSAAR
The MCA 21 portal of the Ministry of Corporate Affairs crossed a significant milestone of 1,00,000 filings on one single day on 26th October 2013, surpassing the previous best of 88,119 filings last year (on 21/11/2012). This has been made possible by the efforts of the Ministry in scaling up the se...
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Corporate Law |
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RBI hikes Repo Rate by 0.25% to 7.75, CRR unchanged
Posted Date : 29-Oct-2013 , 11:21:17 am | Posted By CASANSAAR
The Reserve Bank on Tuesday hiked the repo rate by 0.25 percent to 7.75 percent in its second quarter monetary policy review in a bid to anchor inflationary expectations.
The central bank, however, slashed the Marginal Standing Facility (MSF) rate by 0.25 to 8.75 percent. The RBI has left the ...
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RBI |
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Will ICAI take action against Vice-Chairman of NIRC on Complain of Professional Misconduct?
Posted Date : 29-Oct-2013 , 08:44:04 am | Posted By CASANSAAR
A Complaint for Professional Misconduct and abuse of official position has been filed with the Secretary ICAI, against CA. Raj Chawla, presently NIRC Vice-Chairman. Since last several months Mr. Chawla is grossly violating the code of conduct for the professionals.
Secretary ICAI, has ackno...
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ICAI |
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Sebi eases share transfer norms for deceased holders' accounts
Posted Date : 29-Oct-2013 , 08:19:01 am | Posted By CASANSAAR
SEBI simplified the procedure for transfer of securities from the account of a deceased person and raised the threshold limit for such transactions in demat format to Rs 5 lakh.
The move is aimed at making transmission of securities in both dematerialised and physical modes mo...
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SEBI |
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NSEL investors file complaint against EY; Auditor denies role
Posted Date : 29-Oct-2013 , 08:16:39 am | Posted By CASANSAAR
The harried NSEL Investor Forum, the umbrella group of investors of the crippled spot commodity exchange, today said it has filed a complaint against EY India with the Economic Offences Wing (EOW) of the Mumbai Police for its alleged role in the payment crisis.
NSEL Investors Forum chairman Sharad ...
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Auditing |
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ED files charge sheets against Raju, 212 others in Satyam case
Posted Date : 28-Oct-2013 , 08:58:31 pm | Posted By CASANSAAR
Enforcement Directorate(ED) today filed a charge sheet against Satyam Computers founder Ramalinga Rajuand 212 others, including some firms, for allegedly laundering funds under a "corporate veil" to perpetrate the accounting scam that rocked the business world.ED filed a bulky prosecution inves...
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General |
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SC to Sahara Group: Hand over title deeds of properties worth Rs 20,000 Cr to Sebi
Posted Date : 28-Oct-2013 , 05:04:44 pm | Posted By CASANSAAR
The Supreme Court on Monday directed Sahara Group to hand over title deeds of its properties worth Rs 20,000 crores to SEBI within three weeks. Rapping the Sahara Group, the apex court said, "There is no escape and the money has to be paid.""You indulge too much in hide...
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General |
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Government clears 13 FDI proposals worth Rs.1,258 crore
Posted Date : 28-Oct-2013 , 04:27:06 pm | Posted By CASANSAAR
Government today said it has cleared 13 FDI proposals totalling Rs. 1,258 crore and referred Axis Bank's proposal for increasing foreign equity amounting to about Rs. 6,266 crore for consideration of the Cabinet.
The Foreign Investment Promotion Board (FIPB), in its September 19...
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International Business |
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Suggestions invited for the 4th Tranche of Draft Rules under the Companies Act 2013 This Phase Covers the IEPF Authority
Posted Date : 28-Oct-2013 , 04:24:48 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has invited suggestions/ comments for the 4th tranche of Draft Rules being framed under the Companies Act, 2013. November 5, 2013 has been fixed as the last date for submission of suggestions/ comments. In this phase Draft Rules have been framed for the creation of ...
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Corporate Law |
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ICAI study group to submit report on Indian Economy
Posted Date : 28-Oct-2013 , 09:50:01 am | Posted By CASANSAAR
A study group formed by the Institute of Chartered Accountants of India (ICAI) to study the Indian economy will submit its report to the Union Finance Minister soon, said ICAI president C A Subodh Kumar Agrawal. He was speaking to mediapersons here on the sidelines of the residential workshop for IC...
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General |
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Banks advised to tighten letters of credit sanction norms
Posted Date : 28-Oct-2013 , 09:48:46 am | Posted By CASANSAAR
The finance ministry wants state-owned banks to follow more stringent norms while issuing bank guarantees or letters of credit to borrowers, concerned that such type offunding results in double financing, which often leads to financial indiscipline among borrowers. A finance mini...
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Banking |
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FT group Auditors run for cover after Mayaram panel's report
Posted Date : 28-Oct-2013 , 09:47:11 am | Posted By CASANSAAR
The adverse remarks in the report of a special team that probed the Rs 5,600-crore ‘payment crisis’ have jolted the auditors of the National Spot Exchange Limited (NSEL) and Financial TechnologiesIndia Limited (FTIL).
The Special Team of Secretaries (STS) headed by Economic Affairs...
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Auditing |
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RBI seeks information from applicants, regulators on new bank licences
Posted Date : 28-Oct-2013 , 09:45:39 am | Posted By CASANSAAR
Gearing up to issue new bank licences, RBI has shot off detailed queries to over two dozen applicants and various regulators in India and abroad as part of its due-diligence on those seeking to enter banking arena. The Reserve Bank of India (RBI) is in the process of granting new bank...
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Banking |
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Delhi HC to take call on Pizza Hut tax exemption
Posted Date : 28-Oct-2013 , 09:43:56 am | Posted By CASANSAAR
The Delhi High Court is set to rule whether a US company can simultaneously avail of the benefit of a lower tax rate under the Indo-US Double Tax Avoidance Agreement (DTAA) and exemptions on payments of royalty under the Income Tax (I-T) Act.
The issue came up before the court on a dispute ...
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Income Tax |
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Nepali CA student
Posted Date : 27-Oct-2013 , 09:26:06 am | Posted By CASANSAAR
A 22-year-old student pursuing his Chartered Accountancy was found dead in Shakarpur area of East Delhi on Friday.
Police said they received a PCR alert that a man had jumped off the terrace of his building. Accordingly, police began investigating the case as a suicide. But a case of murder...
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Students Zone |
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Download online ICAI Admit Card for Nov. 2013 examination
Posted Date : 26-Oct-2013 , 06:58:54 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India (ICAI) has announced CA PCC, PEC, Final & IPCC Admit Card Nov.2013 available online at officiall website www.icai.nic.in
How to download ICAI Admit Card Nov.2013
1. Candidate first of all log on the official website www.icai.nic.i...
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Students Zone |
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Indian CAs in good demand in West Asia, Australia - Vice President ICAI
Posted Date : 26-Oct-2013 , 08:53:05 am | Posted By CASANSAAR
Indian chartered accountants are in good demand in the West Asian countries, Australia and Singapore, according to K. Raghu, vice-president of Institute of Chartered Accountants of India (ICAI).
Speaking to presspersons on the sidelines of a sub-regional conference of the Southern Indi...
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Income Tax |
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Election Commission issues norms to monitor social media campaigns
Posted Date : 26-Oct-2013 , 08:47:11 am | Posted By CASANSAAR
Bringing social media within the ambit of the model code of conduct, theElection Commission has instructed parties and candidates to account for all expenses incurred during campaigning on such websites. The Commission issued detailed guidelines on monitoring political campaigning on websi...
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General |
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RBI appoints special auditor for First Leasing; firm's MD allowed to quit
Posted Date : 26-Oct-2013 , 08:42:55 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has appointed an auditor for a special audit of the book of accounts and transactions of First Leasing Company of India, from the year ended March 31, 2010.
A C Muthiah, the chairman of First Leasing, also said its board of directors had accepted last week'...
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Auditing |
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Attention to Members - Payment to Non Resident
Posted Date : 25-Oct-2013 , 12:30:22 pm | Posted By CASANSAAR
The new form No. 15CA and 15CB, effective from 1st October, 2013 are available on the website of Income tax (https://incometaxindiaefiling.gov.in/) under "efile option - prepare and submit online form (other than ITR) of the tax payer"....
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Income Tax |
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Narendra Modi's Patna rally under income tax scanner
Posted Date : 25-Oct-2013 , 08:23:43 am | Posted By CASANSAAR
BJP prime ministerial candidate Narendra Modi's rally in Patna next week has come under the income tax department's scanner.
The department's TDS (tax deduction at source) section served notice on the Bharatiya Janata Party's (BJP) state unit, which is organizing the Oct 27 ral...
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Income Tax |
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Sebi lays out guidelines for listing of SMEs, start ups
Posted Date : 25-Oct-2013 , 08:17:33 am | Posted By CASANSAAR
Market regulator Sebi today issued detailed guidelines, including on eligibility criteria, for listing of start-ups and small and medium enterprises (SMEs) on stock exchanges without an initial public offer(IPO). The guidelines follow notification of new norms by Sebi e...
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SEBI |
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Google world's best multinational company to work for: Survey
Posted Date : 25-Oct-2013 , 08:14:02 am | Posted By CASANSAAR
Internet giant Google has emerged as the world's best multinational company to work for, followed by software developer SAS Institute and network storage provider NetApp in the second and third place, respectively.
Software giant Microsoft was ranked ...
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International Business |
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Now pay your utility bills, school fees, remittances and other bills using bank accounts
Posted Date : 25-Oct-2013 , 08:09:30 am | Posted By CASANSAAR
Reserve Bank today constituted an advisory group to implement a national bill payment system that will enable households to pay utility bills, school fees, remittances and other bills using their bank accounts. "The RBI has announced the constitution of aGIRO Advisory Group (GAG)...
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Banking |
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Former Indian Bank chairman, four others sentenced
Posted Date : 24-Oct-2013 , 01:19:50 pm | Posted By CASANSAAR
A CBI court here yesterday sentenced former Chairman and Managing Director of Indian Bank M Gopalakrishnan and four others to one year imprisonment for defrauding various branches of the bank to the tune of about Rs 6.5 crore.
CBI Principal Sessions Judge S Malathi also ordered Gopalakrishn...
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Banking |
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FinMin proposes rule to curb impact of paper fluctuations on markets
Posted Date : 24-Oct-2013 , 08:16:11 am | Posted By CASANSAAR
The finance ministry proposes to have a legislative frame work for curbing the impact of overseas market disruptions by Indian entities and securities listed abroad on the Indian market.
According to officials, the legislative framework has to be worked out within the new Companies Bill. The m...
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Corporate Law |
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Delhi High Court asks Centre to look into accounts of AAP
Posted Date : 23-Oct-2013 , 09:50:41 pm | Posted By CASANSAAR
The Delhi High Court today asked the Centre to look into "afresh" the accounts of Aam Aadmi Party (AAP) to find out the source of money received by it after its inception. A bench of justices Pradeep Nandrajog and V K Rao asked the counsel for the Centre to inform ...
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General |
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Capital infusion by the Government in Public Sector Banks During 2013-14
Posted Date : 23-Oct-2013 , 06:18:53 pm | Posted By CASANSAAR
The capital infusion by the Government of India in Public Sector Banks (PSBs) is done with the twin objective of adequately meeting the credit requirement of the productive sectors of economy as well as to maintain regulatory capital adequacy ratios in PSBs. The G...
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Banking |
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Date Extended for Giving Suggestions on the 3rd Tranche of Draft Rules Being Framed under the Companies Act 2013
Posted Date : 23-Oct-2013 , 06:13:15 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has extended by 4 days the last date for accepting suggestions/ comments for the 3rd tranche of Draft Rules being framed under the Companies Act, 2013. Now, such suggestions/ comments can be given till 5th November 2013. In this phase, following 3 Chapters have been...
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Corporate Law |
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NFRA to get powers to investigate Companies, Audit firms
Posted Date : 23-Oct-2013 , 07:24:02 am | Posted By CASANSAAR
The National Financial Reporting Authority (NFRA), the proposed apex body for accounting and auditing standards, will have powers to probe and review audits of companies, including those which have securities listed outside India. NFRA would be a quasi-judicial body under the new ...
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Auditing |
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