Satyam merger swap ratio opposed in HC
Posted Date : 27-Nov-2012 , 10:43:44 pm | Posted By CASANSAAR
A group of minority shareholders of Mahindra Satyam (formerly Satyam Computer Services) has filed a petition in the Andhra Pradesh High Court opposing, the proposed share-swap ratio, among other things, for merger with Tech Mahindra.
The petitioners have requested the court to revise...
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Merger & Acquisitions |
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RBI relaxes borrowing rules for mobile auction winners
Posted Date : 27-Nov-2012 , 08:53:25 am | Posted By CASANSAAR
The Reserve Bank of India ( RBI) has relaxed overseas borrowing rules for successful bidders in the country's cellphone airwaves auction, making it easier for them to raise money to pay the cash-strapped government.
The RBI said on Monday the winning bidders could use short-t...
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RBI |
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How companies are misusing ‘share application money’ to guise questionable financial practices
Posted Date : 27-Nov-2012 , 08:27:15 am | Posted By CASANSAAR
From non-descript companies that bagged coal blocks to shell companies related to BJP president Nitin Gadkari's business interests, the use of 'share application money' is emerging as a convenient way for promoters to channel equity investments into their companies to guise questionable, p...
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Finance |
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I-T dept extends filing deadline for ITR-V forms
Posted Date : 27-Nov-2012 , 08:21:53 am | Posted By CASANSAAR
The Director General of Income Tax (System) as per powers assigned to it under clause (ii) of Para 14 read with clause (7) of Para 4 of the ‘Centralized Processing of Returns Scheme, 201 T, issued as per C B D T Notification No. SO 16(E) dated 4.1.2012, has decided to extend the time limit for...
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Income Tax |
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0 | Hits : 711
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Banking services on your palm Just dail a no. from any handset
Posted Date : 27-Nov-2012 , 08:16:28 am | Posted By CASANSAAR
Checking your bank balances or placing a request for a cheque book has been made as simple and hassle-free as dialling *99# from your mobile.
Just dial *99# from your mobile of any make, every banking service, be it fund transfer or checking balances, comes at platter.
Formally rol...
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Category :
Banking |
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No objection from Cos on CSR norms in Companies Bill: Govt
Posted Date : 26-Nov-2012 , 11:12:11 pm | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has not received any objection from the companies to the provision of spending of at least 2 per cent of net profit on corporate social responsibility (CSR) activities in the Companies Bill."The ministry has not received any communicat...
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Corporate Law |
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Chitra Ramakrishna to become MD & CEO of NSE on 1st April 2013
Posted Date : 26-Nov-2012 , 11:10:24 pm | Posted By CASANSAAR
Chitra Ramakrishna will be the Managing Director and CEO of National Stock Exchange from 1st April 2013, while its current chief Ravi Narain will assume the role of Vice-Chairman in a non-executive role. At a meeting held in Mumbai on Monday, the board of the National Stock Exchange decided that Ram...
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Shares & Stock |
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RBI considering four alternatives to gold
Posted Date : 26-Nov-2012 , 08:59:40 am | Posted By CASANSAAR
Given Indians’ yen for gold and the pressure on the current account due to its import, the Reserve Bank of India is considering introducing four gold-related instruments to ease the physical demand for the yellow metal.
The instruments are modified gold-deposit scheme (GDS),...
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Category :
Income Tax |
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0 | Hits : 440
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FIU asked to track service tax evaders
Posted Date : 26-Nov-2012 , 08:57:04 am | Posted By CASANSAAR
The Financial Intelligence Unit (FIU), country’s nodal agency for gathering, analysing and disseminating information related to suspicious financial transaction, has been asked to work with theDirectorate General of Central Excise Intelligence (DGCEI) to go after over 65,000 non...
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Income Tax |
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0 | Hits : 315
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RBI to soon allow Aadhaar for banking transactions
Posted Date : 26-Nov-2012 , 08:56:23 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Sunday said it will soon allow Aadhaar card as an identity proof for banking transactions that will enable banks to ease the KYC (know-your-customer) process for millions of customers.
The central bank will soon issue a circular allowing the use of the Aadhaar as ...
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RBI |
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600,000 Pakistanis didn't pay tax last year
Posted Date : 26-Nov-2012 , 08:53:49 am | Posted By CASANSAAR
Around 600,000 people in Pakistan did not pay their taxes in the past one year, which highlights the "incompetence and mismanagement" of the country's top tax machinery, a daily said Sunday. The Federal Bureau of Revenue (FBR) claims 1.44 million people regularly file tax returns, but there are...
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Category :
Income Tax |
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Finance minister P Chidambaram asks CEOs of PSU banks to cut margins
Posted Date : 26-Nov-2012 , 08:52:26 am | Posted By CASANSAAR
Finance minister P Chidambaram has told the chief executives of state-owned banks not to be obsessed with higher margins and instead attract borrowers with lower interest rates. Bank managements, according to him, should be happy with a 3% margin - a suggestion that has not gone down...
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Finance |
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SEBI plans including individual traders in definition of illegal practice
Posted Date : 25-Nov-2012 , 10:49:42 pm | Posted By CASANSAAR
Market regulator Securities and Exchange Board of India (SEBI) is looking at reviewing regulations on the illegal trade practice of front-running in the capital market to plug legal loopholes in the existing regulation and safeguard investor interest.
...
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SEBI |
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Sebi extends bid deadline for verification job in Sahara case
Posted Date : 25-Nov-2012 , 10:46:50 pm | Posted By CASANSAAR
Market watchdog the Securities and Exchange Board of India (Sebi) has extended the deadline by one month for submission of bids by public sector banks and KYC registration agencies (KRAs) to conduct in-person verification of about three crore investors in the high-profile Sahara case to ascertain th...
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SEBI |
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ICAI chief in the dock for Rs 100 crore land deal
Posted Date : 24-Nov-2012 , 08:58:39 am | Posted By CASANSAAR
A land deal worth Rs 100 crore involving the Institute of Chartered Accountants of India ( ICAI) has landed its president Jayadeep Narendra Shah in a spot. Shah, a native of Nagpur, signed a deal for purchasing a nine-acre plot in that city for setting up a study centre of the institu...
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ICAI |
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Tax panel formed to go after 20,000 evaders
Posted Date : 24-Nov-2012 , 08:52:25 am | Posted By CASANSAAR
Finance minister P Chidambaram has formed a team of revenue intelligence officials to track over 20,581 cases of high networth individuals and entities who have not filed their income tax returns, and get them to pay the amount they are suspected to have evaded.
The list was compi...
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Category :
Income Tax |
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Nov 27 deadline for service tax dues on over Rs 10-lakh rental income
Posted Date : 24-Nov-2012 , 08:51:00 am | Posted By CASANSAAR
Those who are yet to pay their service tax dues (as on March 6, 2012) on rent received in excess of Rs 10 lakh a year from immovable property are liable to pay a penalty after November 27.
The tax applies to renting of commercial property, where the rental amount exceeds the exemption ...
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Service Tax |
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Web Based Status Tracking Facility Launched to Check Corruption in Income Tax Refunds
Posted Date : 23-Nov-2012 , 11:02:59 pm | Posted By CASANSAAR
Instances of alleged corruption for settlement of refund claims and complaints come to notice from time to time. Whenever any such instance or complaints comes to notice, the same is verified and if it is found to be correct, the concerned officers/officials have to face penal consequences depending...
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Category :
Income Tax |
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0 | Hits : 460
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Foreign National to Open Banks in India
Posted Date : 23-Nov-2012 , 11:02:10 pm | Posted By CASANSAAR
As per the “Draft Guidelines for Licencing of New Banks in Private Sector” issued by the Reserve Bank of India (RBI) on 29.08.2011, only entities/groups in the private sector that are owned and controlled by residents shall be eligible to promote banks. RBI has formulated the Know Y...
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Category :
International Business |
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No Tax Free Zones in Operation
Posted Date : 23-Nov-2012 , 11:01:19 pm | Posted By CASANSAAR
There is no concept called Tax Free Zones as such in operation. However, there are schemes like Special Economic Zones (SEZs) and Export Oriented Units (EOUs) which provide tax exemptions. Both above schemes are administered by the Department of Commerce. In addition to above, package of incentives ...
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Category :
Income Tax |
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Tax rebate allowed on capital gains after property sale - ITAT
Posted Date : 22-Nov-2012 , 07:50:40 am | Posted By CASANSAAR
Income-Tax Appellate Tribunal (ITAT) ofChennai has held that interest on home loans will continue to remain out of the tax net even if the house is sold later. The tribunal clarified that the interest paid on loans is certainly an expenditure that should be taken into account while co...
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Category :
Income Tax |
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0 | Hits : 586
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RBI gives infrastructure lending status to host of sub-sectors
Posted Date : 21-Nov-2012 , 09:12:37 am | Posted By CASANSAAR
Giving a boost to key segments like roads and bridges, LNG and oil pipelines, water treatment plans, telecom towers, and three-star hotels, RBI today gave them 'infrastructure status' and paved way for them to avail easier funding from banks.
In a notification, RBI said the credit facility ...
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Category :
Income Tax |
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Sebi discontinues mini derivatives contracts to save investors
Posted Date : 21-Nov-2012 , 09:09:07 am | Posted By CASANSAAR
Market regulator Sebi today said it has decided to discontinue mini derivatives contracts on Sensex and Nifty indices, to discourage small investors from getting attracted to this segment.
The latest move revises Securities and Exchange Board of India's decision in December 2007 that allowed mini...
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SEBI |
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Govt’s financial Bills line-up skips MMDR, land acquisition
Posted Date : 21-Nov-2012 , 09:03:43 am | Posted By CASANSAAR
Amidst talks of a no-confidence motion or a vote on the FDI issue, the government has lined up key financial sector Bills including long-pending legislations for pension and insurance sector as well as the supplementary demand for grants for the forthcoming winter session of Parliament that begins o...
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Category :
General |
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Exposure Draft of Elements Specific for Power Sector Companies for Inclusion in C&I Taxonomy.
Posted Date : 20-Nov-2012 , 08:24:05 pm | Posted By CASANSAAR
Extensible Business Reporting Language (XBRL) India has issued the following Exposure Draft on Power Sector specific elements to be included in the taxonomy for filing of the Annual Financial Statements XBRL for power companies. These elements shall be included in the base taxonomy i.e. C&I...
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ICAI |
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Notification - Special Examination
Posted Date : 20-Nov-2012 , 08:22:52 pm | Posted By CASANSAAR
The Institute of Chartered Accountants of India[Set up by an Act of Parliament]Post Box No.7112, ICAI BHAWAN, Indraprastha MargNew Delhi - 110002
TO BE PUBLISHED IN PART III SECTION 4 OF THE GAZETTE OF INDIA19th November, 2012NOTIFICATION
No.13-CA(Exam)/N/2012/III: In partial modific...
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Category :
Income Tax |
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SEBI to Get Call Data Records in Specific Cases: PC
Posted Date : 20-Nov-2012 , 09:17:43 am | Posted By CASANSAAR
The government is making an arrangement for market regulator Sebi getting access to call data records of people being probed by it in specific cases, but it will not get power to directly tap the phone calls, Finance Minister P Chidambaram has said.
"... Some arrangement is being made that the call...
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SEBI |
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RBI bans loans to buy gold
Posted Date : 20-Nov-2012 , 09:15:29 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday notified a total ban on banks from advancing any loans to its customers for purchasing gold in any form, which includes primary gold, gold bullion, gold jewellery, gold coins, units of gold Exchange Traded Funds ( ETF) and units of gold mutual funds.&nb...
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RBI |
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Sahara moves SAT, seeks more time
Posted Date : 20-Nov-2012 , 09:13:30 am | Posted By CASANSAAR
Sahara Group on Monday moved the Securities Appellate Tribunal (SAT) against Sebi, seeking more time to submit documents related to about three crore investors in the case involving two group companies. Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Investment Corporation...
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Category :
General |
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0 | Hits : 225
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Trading Ban on 40 companies for Demat Failure
Posted Date : 19-Nov-2012 , 08:51:39 am | Posted By CASANSAAR
BSE and NSE have restricted trading instocks of as many as 40 new companies on account of their failure in meeting the market regulator Sebi's direction on dematerialising of shares. The action comes after these companies failed to convert a mandatory 50% public shareholding...
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SEBI |
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