Deloitte Pays $1M to Settle Auditor Independence Violation
Posted Date : 02-Jul-2015 , 08:45:45 am | Posted By CASANSAAR
The Securities and Exchange Commission has charged Deloitte & Touche LLP with violating auditor independence rules when its consulting affiliate maintained a business relationship with a trustee serving on the boards and audit committees of three funds it audited.
Deloitte agreed to p...
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NRI rupee accounts not to be treated as FDI - Govt
Posted Date : 08-Jun-2015 , 08:19:22 am | Posted By CASANSAAR
The government has agreed not to treat NRI investments emanating out of their rupee accounts in bank accounts in India as Foreign Direct Investments (FDI).
On the face of it, this may appear to be a huge leg up to investments in industries and infrastructure by our diaspora but a deeper reflectio...
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Govt notifies FDI policy relaxations for NRIs
Posted Date : 03-Jun-2015 , 07:56:41 pm | Posted By CASANSAAR
Non-repatriable investments by NRIs, OCIs and PIOs will be treated as domestic investments and will not be subject to foreign direct investment caps, the Commerce and Industry Ministry on Wednesday said.
“The government has reviewed the FDI policy relating to investments by NRIs, PIOs and...
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21 FDI proposals worth Rs 281 crore approved by Govt.
Posted Date : 25-May-2015 , 10:36:16 pm | Posted By CASANSAAR
21 FDI proposals worth Rs 281 crore approved by Govt.
The government has cleared 21 foreign direct investment (FDI) deals worth Rs 281 crore but deferred Kotak Mahindra Bank's proposal to hike foreign investment limit in the bank to 55 percent.
"The government has approved 21 ...
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Government Approves Nineteen (19) Proposals of Foreign Direct Investment Amounting to Rs. 2165.04 Crore Approximately
Posted Date : 05-May-2015 , 09:59:44 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its Meeting held on 9th April 2015, the Central Government has approved nineteen (19) proposals of Foreign Direct Investment(FDI) amounting to Rs. 2165.04 crore approximately.
...
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Government approves ten (10) proposals of Foreign Direct Investment amounting to Rs. 2857.83 crore approx
Posted Date : 25-Mar-2015 , 06:02:36 pm | Posted By CASANSAAR
Details of Proposals considered in the Foreign Investment Promotion Board (FIPB) Meeting held on 17.02.2015
Following 10 (ten) proposals have been approved by the Government:
Sl.
No.
Item ...
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Deloitte appoints India-born Punit Renjen as Global CEO
Posted Date : 17-Feb-2015 , 08:25:18 am | Posted By CASANSAAR
India-born Punit Renjen, chairman of the board of the Deloitte US member firm, has been named Deloitte Global’s new chief executive officer (CEO). He will assume the new role on June 1.
Renjen succeeds Barry Salzberg, who will retire fromDeloitte Global and become a professor of pro...
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Obama announces $4 billion in India investment and lending deals
Posted Date : 26-Jan-2015 , 08:19:47 pm | Posted By CASANSAAR
U.S. President Barack Obama on Monday announced $4 billion in government-backed investments and lending to India, as he sought to scale up a trade relationship he said was "defined by so much untapped potential".
At a CEO summit hosted by Prime Minister Narendra Modi in New Delhi, Obama...
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25 Proposals of Foreign Direct Investment Amounting to Rs.1546.12 Crore Approved
Posted Date : 14-Oct-2014 , 09:31:50 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 29, 2014, Government has approved 25proposals of Foreign Direct Investment amounting to`1546.12 Crore approximately.
In addition, one proposal viz., M/s Medereich Limited amounting ...
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S&P upgrades India's sovereign credit outlook to stable from negative
Posted Date : 26-Sep-2014 , 04:39:57 pm | Posted By CASANSAAR
Rating agency Standard & Poors has reversed its opinion about the Indian economy and upgraded the rating outlook to stable from negative while maintaining the credit rating at BBB-.
This is a major change from its position last year when it said India faces one in three chances of a downg...
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100 billionaires in India; 6th globally: Wealth-X, UBS census
Posted Date : 18-Sep-2014 , 07:48:18 am | Posted By CASANSAAR
India has retained its sixth position in terms of number of billionaires with 100 such people collectively having USD 175 billion in networth, while globally the number of uber-rich has reached a record high of 2,325 persons.
According to the Wealth-X and UBS Billionaire Census 2014, releas...
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Government Approves Twenty Two (22) Proposals of Foreign Direct Investment (FDI) Amounting to About Rs. 3951.61 Crore
Posted Date : 06-Sep-2014 , 09:08:01 am | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on August 1, 2014, the Government has approved 22 proposals of Foreign Direct Investment (FDI) amounting to Rs. 3951.61 crore approximately.
Details of 22 proposals considered in the Foreign ...
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Bank of America in record $US16.65b settlement with US Government
Posted Date : 22-Aug-2014 , 08:31:12 am | Posted By CASANSAAR
Bank of America reached a record $US16.65 billion ($17.9 billion) settlement with the US government to settle charges that it and companies it bought misled investors into buying troubled mortgage-backed securities, helping the bank close a major chapter tied to the financial crisis.
The se...
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Government Approves 19 Proposals of Foreign Direct Investment (FDI) Amounting to about Rs. 2326.72 Crore
Posted Date : 24-Jul-2014 , 08:01:53 pm | Posted By CASANSAAR
Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on 11th June, 2014, the Government has approved Nineteen (19) proposals of Foreign Direct Investment (FDI) amounting to Rs. 2326.72crore approximately.
Details of Proposals...
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Cabinet clears insurance FDI to 49%; to fetch Rs 25k Cr funds
Posted Date : 24-Jul-2014 , 04:34:42 pm | Posted By CASANSAAR
The Cabinet today gave go-ahead to FDI cap hike in insurance to 49 per cent with a rider that management control will remain in the hands of Indian promoters, thus paving way for inflow of as much as Rs 25,000 crore foreign funds in the sector.
The approval to hike the FDI limit from the cu...
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RBI relaxes norms to buy immovable property abroad
Posted Date : 18-Jul-2014 , 08:24:59 am | Posted By CASANSAAR
Reserve Bank today said individuals can also use funds under Liberalised Remittances Scheme (LRS) to buy immovable property abroad.
Encouraged by an improvement in the forex market, the Reserve Bank on June 3 had raised annual overseas investment ceiling for individuals to $125,000 from $75,000.
"...
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BRICS to set up $100 billion development Bank, first President to be from India
Posted Date : 16-Jul-2014 , 08:18:55 am | Posted By CASANSAAR
In a major victory for India, the agreement on the much anticipated 100 billion dollars BRICS Development Bank has been sealed. The BRICS Summit on Tuesday decided to establish the new development bank with an initial authorised capital of USD 100 billion for which the initial subscribed capital wil...
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FIIs pour in Rs 14000 crore in May
Posted Date : 25-May-2014 , 02:00:17 pm | Posted By CASANSAAR
Overseas investors have pumped in over 14,000 crore in Indian stocks so far this month as the new BJP government, which is to take charge tomorrow, is seen as being reforms-oriented. According to data from the Securities and Exchange Board of India, Foreign Institutional Investors (FIIs) purchased s...
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Bank of America's accounting blunder overlooked by auditors and regulators
Posted Date : 30-Apr-2014 , 06:58:15 am | Posted By CASANSAAR
Bank of America's accountants shouldn't be the only ones blushing about their recent blunder. External auditors and federal regulators for five years overlooked the mistake, too.
Charlotte-based BofA on Monday disclosed its regulatory capital ratios since 2009 had been ...
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MNCs line up for transfer pricing pacts with tax authorities
Posted Date : 09-Apr-2014 , 08:27:45 am | Posted By CASANSAAR
The tax department received 232 applications from MNCs in 2013-14, up 60 per cent year-on- year, to obtain advance ruling over pricing arrangement for transactions within group firms and the ensuing tax liability. In 2012-13, 146 companies had applied for Advance Pricing Agreement, a mechanism ...
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PwC is sued for $1 billion over MF Global collapse
Posted Date : 29-Mar-2014 , 03:50:12 pm | Posted By CASANSAAR
The administrator of MF Global Holdings Ltd's bankruptcy plan on Friday sued the Auditor PricewaterhouseCoopers for at least $1 billion over its advice on a $6.3 billion European sovereign debt investment that helped fuel the brokerage's rapid demise.
According to a complaint file...
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Registered foreign portfolio investors can open rupee accounts
Posted Date : 26-Mar-2014 , 08:26:57 am | Posted By CASANSAAR
The Reserve Bank of India (RBI) has said registered foreign portfolio investors (RFPI) will be eligible to open special non-resident rupee (SNRR) accounts and foreign currency accounts with banks. For genuine investments in securities, they can also transfer sums from a foreign currency account to a...
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When Facebook turned down WhatsApp Co-Founder for a Job
Posted Date : 20-Feb-2014 , 09:50:39 pm | Posted By CASANSAAR
Jan Koum and Brian Acton have become overnight billionaires, courtesy Facebook buying their startup WhatsApp. However, things were not so great for the two till a few years ago. While Acton, who was looking for a job, faced rejection at Facebook and Twitter; Koum used to queue up...
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Probe into accountancy firm's handling of the Co-operative Bank's books
Posted Date : 21-Jan-2014 , 08:41:19 am | Posted By CASANSAAR
Accountancy firm KPMG is facing a probe into how it audited the Co-operative Bank’s books in the years leading up to its near collapse.
The Financial Reporting Council has launched an investigation after the discovery of a £1.5billion hole in the lender’s finances last yea...
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Govt okays multi-brand FDI, Tesco and Vodafone
Posted Date : 31-Dec-2013 , 08:34:46 am | Posted By CASANSAAR
The government on Monday cleared proposals by UK-based retail giant Tesco and telecom company Vodafone to together invest close to Rs 11,000 crore in India, signalling the government's determination to press ahead with FDI even in contentious areas such as multi-brand retail. With clearance from the...
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New foreign investment rules will maintain FII tax sops: Government
Posted Date : 24-Dec-2013 , 07:38:37 pm | Posted By CASANSAAR
Foreign portfolio investors in India would be subject to the same tax treatment as foreign institutional investors, the Securities and Exchange Board of India clarified on Tuesday.
India had approved new rules in October aimed at streamlining the registration process for foreign investo...
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New customs form for Indians, foreigners from January 1
Posted Date : 22-Dec-2013 , 03:29:17 pm | Posted By CASANSAAR
Passengers flying into India will have to fill in a new customs form on their arrival from the new year while the need to fill immigration form for returning Indians is being done away with.
All passengers coming to India will be filling up an 'Indian Customs Declaration Form' seek details ...
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Black Berry abandons sale process, CEO out
Posted Date : 04-Nov-2013 , 09:36:51 pm | Posted By CASANSAAR
BlackBerry abandoned its sale process on Monday, and announced it will replace its chief executive.
Fairfax, BlackBerry's largest shareholder with a 10 percent stake, said it won't buy the struggling smartphone company and take it private but said it and other investors will inject $1 billi...
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CAG becomes member of UN Audit panel
Posted Date : 04-Nov-2013 , 09:10:12 am | Posted By CASANSAAR
The Comptroller and Auditor General of India Shashi Kant Sharma has been elected to the coveted United Nations Board of Auditors for a six-year term. India defeated the Philippines with a convincing margin in the election to the panel. India got the support of China and Pakistan in the elections.
&...
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Chandigarh-born software engineer Gurdeep Singh Pall named Skype Vice-President
Posted Date : 30-Oct-2013 , 08:48:19 pm | Posted By CASANSAAR
Chandigarh-born software engineer Gurdeep Singh Pall has been named as the corporate vice president of Skype, a popular and free international voiceover and messaging service, by Microsoft Corporation, its developer.
Pall, 46, studied in Chandigarh's St John's school before completing his e...
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