Recent Initiatives taken by the Ministry of Corporate Affairs
Posted Date : 10-Jul-2011 , 09:20:12 am | Posted By CASANSAAR
The Indian
economy has expanded at a rapid rate during the current decade and the corporate sector has been the biggest contributor in this growth story. A significant feature of this growth is the increasing integration of the Indian corporate economy into the global business environment.&n...
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Corporate Law |
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Now e-ticketing through SMS instead of normal print-outs.
Posted Date : 10-Jul-2011 , 08:34:24 am | Posted By CASANSAAR
Now railway passengers can get their e-tickets on their cell phones instead of normal print-outs.
Named as 'm-ticket', the mobile phone-based ticket booking system envisages a passenger to book his train ticket through mobile phones and carry the display ticket, sent to his cell phone throu...
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Category :
Income Tax |
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80,000 companies in Northern India are 'defaulters': MCA
Posted Date : 09-Jul-2011 , 06:58:33 pm | Posted By CASANSAAR
Asserting that Companies that have not filed annual returns and balance sheet to Ministry of Corporate Affairs (MCA) for past five years have been put on notice, a senior official of MCA today said there were 80,000 such companies in Northern India. "About 80000 defaulters (defaulting companies) are...
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Category :
Corporate Law |
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Announcement by ICAI for Review of Entry Requirements for Chartered Accountancy Courses
Posted Date : 09-Jul-2011 , 02:33:02 pm | Posted By CASANSAAR
ANNOUNCEMENT
8th July, 2011
Review of Entry Requirements for Chartered Accountancy Courses
The Council at its 306th meeting held from 7th to 9th June, 2011 had considered the recommendations of the Group Constituted by the President, in terms of the authority given to him at its 3...
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Category :
Students Zone |
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Finance Minister Releases New Series of Coins in the Denomination of 50 Paise and Rupees 1,2,5 And 10
Posted Date : 09-Jul-2011 , 12:30:39 pm | Posted By CASANSAAR
The Finance Minister Shri Pranab Mukherjee on 8th July 2011 released a new series of coins with improved design and revised size in the denomination of 50 paise, Rs. 1, 2, 5, and 10. Speaking on the occasion, Shri Mukherjee said that new coins will not only reduce the cost of moving materials ...
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General |
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NTPC to receive Rs 10,000-crore loan from SBI: The Highest loan ever by SBI
Posted Date : 09-Jul-2011 , 12:26:41 pm | Posted By CASANSAAR
tate-run power producer NTPC today said it had signed a loan agreement of Rs 10,000 crore with State Bank of India for financing its new as well as ongoing projects. The loan amount would be the largest extended by SBI to any Indian or foreign company.
For the current financial year, NTPC...
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Finance |
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CBI arrests an Income Tax Officer and a Chartered Accountant in a bribery case
Posted Date : 09-Jul-2011 , 07:57:30 am | Posted By CASANSAAR
The Central Bureau of Investigation has arrested an Income Tax Officer and a Chartered Accountant, both of Aurangabad for demanding and accepting a bribe of Rs.15,000/- from the complainant.
A complaint was received at CBI, ACB, Pune from the complainant against the ITO Ward (1)(2), Auranga...
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ICAI |
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FM asks public lenders to arrest rising NPAs
Posted Date : 09-Jul-2011 , 07:53:00 am | Posted By CASANSAAR
finance minister Pranab Mukherjee has cautioned all state run banks and financial institutions on the downward trend of asset quality. "They (banks) should to exert themselves to devise suitable strategies for containing and rolling back non performing assets," he said. Muk-herjee on Friday, took th...
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Category :
Banking |
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0 | Hits : 1087
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2G scam: ED slaps Rs 7,258 cr penalty on Etisalat DB for FDI norms violation
Posted Date : 09-Jul-2011 , 07:46:49 am | Posted By CASANSAAR
The Enforcement Directorate has issued showcause notices, under Foreign Exchange Management Act, to Etisalat DB Telecom and its five directors, including Shahid Usman Balwa and Vinod Goenka for alleged violations of FDI norms in the telecom sector. Besides Balwa and Goenka, copromoters of Swan Telec...
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Finance |
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Irda slaps Rs 70 lakh fine on SBI Life
Posted Date : 08-Jul-2011 , 10:01:31 pm | Posted By CASANSAAR
Insurance regulator Irda today imposed a fine of Rs 70 lakh on SBI Life Insurance for paying excess commission to the agents in violation of the group insurance guidelines.
"Considering the gross and continued nature of the violations, the Authority has come to the conclusion that it is just and pr...
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Category :
Banking |
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RBI slaps fine on Kolhapur bank for violating KYC norms
Posted Date : 08-Jul-2011 , 09:55:25 pm | Posted By CASANSAAR
he Reserve Bank today imposed a penalty Rs 5 lakh on Kolhapur District Central Co-operative Bank for violation of guidelines related to Know Your Customers (KYC) norms and Anti Money Laundering standards.
"The RBI has imposed a monetary penalty of Rs 5 lakh on Kolhapur District Central Co-operative...
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Banking |
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SBI denies funding to realty projects in disputed areas
Posted Date : 08-Jul-2011 , 09:52:46 pm | Posted By CASANSAAR
Adopting a cautious approach in the wake of Supreme Court asking the U P government to return land to original owners, country's largest lender SBI today said it will not finance real estate projects which are mired in disputes over acquisition of land.
"...If in a particular area where there has b...
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Category :
Banking |
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0 | Hits : 1048
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Mumbai, New Delhi among 5 cheapest places in world
Posted Date : 08-Jul-2011 , 09:38:36 pm | Posted By CASANSAAR
Government may be finding it difficult to battle soaring inflation in the country, but a global survey has found two key Indian cities -- Mumbai and New Delhi -- to be amongst the five cheapest places to live. In a Worldwide Cost of Living Survey , India's financial capital Mumbai has bee...
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General |
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Companies will have to disclose CSR contributions: MCA
Posted Date : 08-Jul-2011 , 07:17:57 pm | Posted By CASANSAAR
The government today said it would be mandatory for corporates to disclose to shareholders whether they have made a contribution of 2% of net profit toward corporate social responsibility activities.
"We have made it mandatory for all corporates to disclose (CSR spend of 2% to sharehol...
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Category :
Corporate Law |
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0 | Hits : 1019
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SC declines Sahara plea to issue notice to govt on OFCD issue
Posted Date : 08-Jul-2011 , 04:42:21 pm | Posted By CASANSAAR
The Supreme Court today declined the Sahara Group's plea to issue a notice to the government in connection to a dispute with market regulator Sebi, which had directed the firm to return funds raised from investors under an OFCD scheme along with 15% interest.
"We do not want Union of Indi...
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Category :
SEBI |
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Govt may challenge SIT probing black money
Posted Date : 08-Jul-2011 , 03:48:14 pm | Posted By CASANSAAR
The Government is exploring legal options on the Supreme court order to set up a Special Investigation Team (SIT) on black money. Sources have told CNN-IBN that the Government is considering seeking a review of the Supreme Court order but no decision has been taken yet.
Criticising the Government...
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General |
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SBI to seek govt nod for rights issue this month
Posted Date : 08-Jul-2011 , 12:14:16 pm | Posted By CASANSAAR
The State Bank of India (SBI) on Thursday said it would soon seek government approval for its Rs 20,000-crore rights issue. The bank will give a revised proposal to the finance ministry this month.
“The draft proposal is with us. We are going to submit it this month to the ministry,&r...
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Category :
Corporate Law |
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0 | Hits : 1036
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ICAI to suggest ways to deal with black money
Posted Date : 08-Jul-2011 , 07:37:08 am | Posted By CASANSAAR
As the heat turns on the government on the issue of black money, the Institute of Chartered Accountants of India (ICAI) on Thursday said it would suggest to the finance ministry ways to track and control illicit money.
A committee, consisting of nine members of ICAI’s central council ...
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ICAI |
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SC gives two weeks relief to Satyam in tax case
Posted Date : 08-Jul-2011 , 07:30:39 am | Posted By CASANSAAR
The Supreme Court on Thursday directed that the order of the Central Board of Direct taxes (CBDT) with regard to its multi crore tax demand from Mahindra Satyam Computer will not come into effect for two weeks.
The order of the Apex Court headed by Chief Justice of India SH Kapadia, Justice...
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Category :
Income Tax |
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Direct tax collection in Q1 up 24 percent
Posted Date : 08-Jul-2011 , 07:27:39 am | Posted By CASANSAAR
The country's direct tax collection has increased almost 24 percent in the first quarter of the current fiscal year and stood at Rs.104,136 crore as compared to Rs.84,041 crore in the like period of last fiscal, official data showed on Thursday. According to the figures released by the finance minis...
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Category :
Income Tax |
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SC to hear Sahara plea against SEBI order tomorrow
Posted Date : 07-Jul-2011 , 09:04:17 pm | Posted By CASANSAAR
The Supreme Court will tomorrow hear the Sahara group firm''s plea against the SEBI order to return the money, along with 15 per cent interest, collected from investors through its Optionally Fully Convertible Debentures (OFCD) scheme.
The plea would be heard by a three-member bench headed ...
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SEBI |
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FM to review performance of public sector banks next month
Posted Date : 07-Jul-2011 , 05:07:48 pm | Posted By CASANSAAR
Finance Minister Pranab Mukherjee will review the performance of all public sector banks next month after the release of financial numbers by the lenders for 2010-11 financial year.
"We will have a review next month with the Finance Minister ... may be towards the end of May," Departme...
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Banking |
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Bharti Airtel to re-structure operations in India and South Asia
Posted Date : 07-Jul-2011 , 04:36:35 pm | Posted By CASANSAAR
Bharti Airtel said on Thursday it would have a new organisation structure for its operations in India and South Asia, effective Aug. 1, to improve efficiency. Mobile, fixed-line, digital TV and other consumer businesses such as mobile commerce will be part of the business to customer (B2C) unit...
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Category :
Merger & Acquisitions |
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Union Textiles Minister Dayanidhi Maran quits
Posted Date : 07-Jul-2011 , 03:03:01 pm | Posted By CASANSAAR
Textiles Minister Dayanidhi Maran has submitted his resignation to Prime Minister Manmohan Singh, informed sources said Thursday, a day after the CBI alleged that he forced telecom promoter C. Sivasankaran to sell his Aircel stake to the Maxis group considered close to his family.
The DMK...
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General |
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0 | Hits : 926
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DGCA busts fake flying school in Delhi
Posted Date : 07-Jul-2011 , 12:51:16 pm | Posted By CASANSAAR
A fake flying school has been busted by the Directorate General of Civil Aviation (DGCA) in the capital. One person was arrested and an FIR was filed by the Delhi police in this regard.
The action was taken after the DGCA received a complaint on fake flying school. The pilot training institute wa...
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General |
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0 | Hits : 846
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SEZ sales by realtors under I-T scanner
Posted Date : 07-Jul-2011 , 12:50:34 pm | Posted By CASANSAAR
Smelling the possibility of major tax evasion and routing of unaccounted income, the income tax department has started re-opening cases pertaining to the sale of sites in Special Economic Zones (SEZs) by developers, especially to associated entities.
A senior I-T department official associated wi...
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Category :
Income Tax |
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0 | Hits : 849
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45 Sail Employees Bag Eleven Prime Minister
Posted Date : 07-Jul-2011 , 10:57:59 am | Posted By CASANSAAR
Employees of Maharatna Steel Authority of India Limited (SAIL) have once again proved their mettle. Of the 33 Prime Minister’s Shram Awards announced for calendar year 2010 by the Ministry of Labour, Government of India, yesterday, 17 of which went to PSUs, SAIL employees have bagged 11 awards...
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General |
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0 | Hits : 820
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First quarter tax collection figures belie fears of economic slowdown
Posted Date : 07-Jul-2011 , 07:39:21 am | Posted By CASANSAAR
Belying slowdown fears, the government’s net indirect tax receipts recorded 32 per cent increase to Rs 76,499 crore, while gross direct tax collections rose about 23 per cent to Rs 1,03,000 crore in the first quarter ending June 2011. Net direct tax receipts, however, showed about 17 per cent ...
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Category :
Income Tax |
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0 | Hits : 1103
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RBI caps banks
Posted Date : 07-Jul-2011 , 07:32:01 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) on Wednesday capped banks’ investments in non-financial companies to prevent commercial lenders from taking control of the management of these entities.
Investments are capped at 10% of the equity of the company or equity and reserves of the bank, which...
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RBI |
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Indrajit Banerjee bags best CFO of the Year award
Posted Date : 06-Jul-2011 , 09:31:56 pm | Posted By CASANSAAR
Indrajit Banerjee, Chief Financial Officer of Cairn India Ltd has been adjudged the best CFO of the year in the Best Treasurer category. Finance Minister Pranab Mukherjee conferred the Business Today CFO of the Year (Best Treasurer Category) on Banerjee at a function here yesterday, the company said...
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Finance |
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