2G case: SC grants bail to 5 corporate executives
Posted Date : 23-Nov-2011 , 03:50:51 pm | Posted By CASANSAAR
In the first bail in 2G case, the Supreme Court today ordered the release of five top corporate executives from Tihar Jail, raising hopes of other accused in the case including former Telecom Minister A Raja and DMK MP Kanimozhi who have been in prison for over six months. A bench comprising jus...
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General |
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Outside party to audit MCD’s financial statement
Posted Date : 23-Nov-2011 , 03:06:23 pm | Posted By CASANSAAR
Embroiled in multiple allegations of graft, the Municipal Corporation of Delhi (MCD) has decided to hire professional consultant for the preparation of its annual financial statement. Also, court orders have made it mandatory for the civic body to have an outside party doing the audit so that ...
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Auditing |
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PSU banks under MCA scanner for easing loan norms for private companies
Posted Date : 23-Nov-2011 , 08:09:10 am | Posted By CASANSAAR
Some state-run lenders and private companies are under scanner of the corporate affairs ministry after allegations that these firms in collusion with bank officials misappropriated bank loans to generate cash among their subsidiaries and inflate enterprise value. "There were allegations that ba...
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Corporate Law |
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Employees can't be forced to work under new management: Supreme Court
Posted Date : 23-Nov-2011 , 08:06:05 am | Posted By CASANSAAR
Employees cannot be compelled to work under a new management and are entitled to retirement or retrenchment benefits, the Supreme Court has held. The apex court rejected the argument of Philip's India Ltd that since the employees had neither retired nor retrenched, hence the...
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General |
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Draft cabinet note for 26% FDI in airlines
Posted Date : 23-Nov-2011 , 08:04:04 am | Posted By CASANSAAR
With Kingfisher Airlines and several other carriers landing in dire straits, the industry ministry has moved a draft cabinet note on allowing 26 per cent foreign direct investment by foreign airlines in the domestic carriers.
"Private airlines in the country are in dire need of funds for ...
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International Business |
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Computer based Mock Common Proficiency Test (CPT) 26th November 2011 called off
Posted Date : 23-Nov-2011 , 08:00:36 am | Posted By CASANSAAR
Due to unavoidable reasons, the computer based Mock CPT scheduled for 26th November 2011 has been called off. The examination fee paid by the students will be refunded shortly. Inconvenience caused is regretted.
However, it is clarified that Paper Pencil mode CPT exam of 18th December 2011 w...
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Students Zone |
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The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL
Posted Date : 23-Nov-2011 , 07:58:50 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL. Joint Secretary, Ministry of Corporate Affairs (MCA) Shri Avinash Srivastava will address the Webcast. You are cordially invited to join the Webcast by logging in at ...
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Corporate Law |
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RBI asks banks to report fraud cases to regional office of DBS
Posted Date : 22-Nov-2011 , 08:29:32 pm | Posted By CASANSAAR
Looking to check banking fraud, the RBI has directed banks to report fraud cases of between Rs 1 lakh and Rs 50 lakh to the regional office of the Department of Banking Supervision."Fraud cases involving an amount more than Rs 1 lakh and up to Rs 50 lakh... (should be reported) to the R.O. (reg...
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Banking |
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RBI monitoring Rupee depreciation:Pranab
Posted Date : 22-Nov-2011 , 08:27:01 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee has said that the Reserve Bank of India is keeping a close eye on the value of rupee against dollar. Talking to reporters outside Parliament, Mr Mukherjee however said that RBI can not make much intervention as the rupee volatility is because of uncertainty in the i...
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Finance |
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PwC and KPMG criticised over audits
Posted Date : 22-Nov-2011 , 08:53:30 am | Posted By CASANSAAR
PwC and KPMG failed to adequately review how certain clients valued mortgage-related securities in 2010, an auditing watchdog has said.
The Public Company Accounting Oversight Board’s findings from an annual inspection revealed that y...
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Auditing |
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Black money: ED issues notices to LGT bank account holders
Posted Date : 22-Nov-2011 , 08:37:14 am | Posted By CASANSAAR
The Enforcement Directorate has issued foreign exchange violation notices to those individuals whose names have figured in the LGT Bank accounts for stashing illegal funds. The Central Board of Direct Taxes (CBDT) has referred 17 cases to the ED in this connection as the Income Tax department ha...
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Income Tax |
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Income Tax strike hits survey operations
Posted Date : 22-Nov-2011 , 08:31:34 am | Posted By CASANSAAR
The crucial survey operations conducted by the Income Tax department to detect tax evasion have been severely hit due to a long drawn employees agitation in the national capital. I-T employees and officials, except those of the Indian Revenue ...
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Income Tax |
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RBI allows banks, NBFCs to set up infra debt funds
Posted Date : 22-Nov-2011 , 08:28:50 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Monday issued guidelines to allow banks and non-banking financial companies (NBFCs) to sponsor infrastructure debt funds (IDFs), to support long-term finance in infrastructure. The same are based on the parameters RBI had issued in September. IDFs may be set up e...
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RBI |
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Rupee touches new low of 52.15 per dollar
Posted Date : 22-Nov-2011 , 08:27:38 am | Posted By CASANSAAR
At the inter-bank foreign exchange market, the rupee sank 81 paise, to a over 32-month closing low of 52.15 against the dollar.The rupee fell on sustained dollar demand, and as domestic equities tumbled. The rupee has lost over 4 percent against the dollar in the last six trading sessions.The Financ...
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International Business |
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RBI's ability to intervene in forex market limited: FinMin
Posted Date : 21-Nov-2011 , 09:00:16 pm | Posted By CASANSAAR
The finance ministry on Monday said the ability of the Reserve Bank to intervene in the forex market to arrest the fall in rupee is limited, even as the Indian currency declined to a 32-month low of Rs 51.50 per US dollar in the early trade. "RBI's ability to intervene in forex market...
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Finance |
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Income tax department doubting authenticity of Swiss Bank account holders list
Posted Date : 21-Nov-2011 , 08:50:27 am | Posted By CASANSAAR
After serving notices and conducting raids, the income-tax department is having second thoughts on the authenticity of the list of Swiss bank account holders it obtained from the French government three months ago.Tax authorities, investigating the 700 unreported account holders with HSBC Geneva,...
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Income Tax |
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Dupe charges: DLF moves Delhi HC against SEBI order
Posted Date : 21-Nov-2011 , 08:45:01 am | Posted By CASANSAAR
DLF Limited has moved the Delhi High Court challenging the order of market regulator Sebi to probe accusations by a Delhi-based businessman that he was duped of Rs 34 crore by the realty major and its alleged associate firm Sudipti Estates.
Justice Vipin Sanghi has now fixed the petition of ...
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SEBI |
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Govt to provide adequate capital to PSU banks: Pranab
Posted Date : 20-Nov-2011 , 08:24:51 am | Posted By CASANSAAR
Finance Minister Pranab Mukherjee said that the government will provide adequate capital to the state-owned banks during the current fiscal, a move that will help them to meet the international solvency norms.
"I would like to reassure, that I will provide adequate capital to the ...
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Banking |
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RBI guidelines for cooperative banks to improve customer services
Posted Date : 19-Nov-2011 , 05:43:50 pm | Posted By CASANSAAR
The Reserve Bank of India (RBI) has asked cooperative banks not to insist on signatures of both the joint account holders for withdrawal of a fixed deposit at the time of maturity if the account was opened with instruction that either of survivor could operate it. The RBI said in a communication to ...
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Banking |
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NGOs will have to reveal details of foreign aid to I-T
Posted Date : 19-Nov-2011 , 08:21:38 am | Posted By CASANSAAR
All non-governmental organizations (NGOs) and charitable trusts will now have to compulsorily file details of foreign contributions received in their Income Taxreturns along with their Foreign Contributions Regulation Act (FCRA) number.A revised I-T return form has been prepared by th...
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Income Tax |
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Revised CBEC draft cuts tax exempted services to 22
Posted Date : 19-Nov-2011 , 08:20:12 am | Posted By CASANSAAR
The government's indirect taxes body has released a revised concept paper on taxation of services on the basis of a negative list, making some additions and deletion to the first paper put out in August this year. A lesser 22 services will be under the negative list, or exempt from tax, as a...
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Service Tax |
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Sebi notifies enhanced FII investment limit
Posted Date : 18-Nov-2011 , 08:21:29 pm | Posted By CASANSAAR
Market regulator Sebi today notified increasing the limit for foreign institutional investors (FIIs) in government securities and corporate bonds by $5 billion each and said the bidding process for the additional amount would be conducted on November 30.
The announcement by the Securities a...
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SEBI |
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Open a Bank account through MCA portal.
Posted Date : 18-Nov-2011 , 05:05:35 pm | Posted By CASANSAAR
MCA offers one more innovative service.
Now you can open a bank account with participating banks.
Andhra Bank
Kotak Mahindra Bank
Click here for more details
http://mca.gov.in/MCA21/corporate_bank_acc.html__._,_.___
Ministry of Corporate Affairsmca.gov.in
...
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Corporate Law |
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Govt to stick to Rs. 40,000 cr disinvestment target: Pranab
Posted Date : 18-Nov-2011 , 04:04:00 pm | Posted By CASANSAAR
The government today said it will stick to its disinvestment target of Rs. 40,000 crore for the 2011-12 financial year, but achieving this goal will hinge on many other factors.
"I am not revising it (the target) right now. We have fixed the target and we will try to achieve it, b...
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Finance |
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Motorola shareholders approve Google takeover bid
Posted Date : 18-Nov-2011 , 03:59:39 pm | Posted By CASANSAAR
Shareholders of Motorola Mobility Holdings Inc late Thursday approved a 12.5-billion-dollar takeover offer from Google Inc, gaining the internet giant a stronger foothold in the handset sector, and expanding its patent portfolio.
Motorola said shareholders voted with an “overwhelming majori...
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International Business |
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HSBC India unit client charged with US tax evasion
Posted Date : 18-Nov-2011 , 02:24:57 pm | Posted By CASANSAAR
A San Jose, California, man faces charges of tax evasion after failing to report $1.3 million in interest income from HSBC Holdings Plc's India unit, US prosecutors said on Thursday.Ashvin Desai hid as much as $8.8 million during 2009 in the India operations of the UK banking giant, prosecutors...
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International Business |
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G Ramaswamy, President, ICAI elected as IFAC Board Member.
Posted Date : 18-Nov-2011 , 08:40:37 am | Posted By CASANSAAR
G Ramaswamy, President, The Institute of Chartered Accountants of India (ICAI) has been elected as the Board Member of International Federation of Accountants (IFAC) at the November IFAC Council Meeting held at Berlin, Germany on 17th November 2011. IFAC is a global organization ...
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ICAI |
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FII cap in Government, corporate debt hiked by $5 billion
Posted Date : 18-Nov-2011 , 08:35:14 am | Posted By CASANSAAR
The Finance Ministry on Thursday raised the foreign investment limit in government and corporate debt by $5 billion each, hoping to solve the issue of poor investor response to government debt and the rupee depreciation. The existing foreign investment limit in government debt has already been e...
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Finance |
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No benefit to executives from management-union agreements: Supreme Court
Posted Date : 18-Nov-2011 , 08:32:22 am | Posted By CASANSAAR
The Supreme Court on Thursday ruled that once an employee was placed in the executive cadre, he would cease to be a workman, disentitling him to benefits accruing from a settlement arrived between the management and trade union of which he was a member prior to promotion.The judgment by a ...
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General |
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Claiming HRA? Get the house owner's PAN
Posted Date : 18-Nov-2011 , 08:28:40 am | Posted By CASANSAAR
Kalpana Sinha, a tenant in a Mumbai suburb, often tells her house owner that her payment of rentals — Rs 30,000 a month — do not allow her to claim tax benefits. While the owner is willing to give her a temporary receipt, it contains little detail about the owner.
Sinha would ...
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Income Tax |
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