company secretary

Cost and Works Accountants will now only be known as Cost Accountants, with Parliament approving amendments to the existing legislation earlier today. Also, there will be some brand confusion as the Institute of Cost and Works Accountants of India will now be called the Institute of Cost Accounts of India. As a consequence, the Chartered Accounts Institute and the Cost Accounts Institute will share the same acronym - ICAI. Full Article

The Council at its 201st meeting held on 23rd-24th June, 2011, in supersession of its earlier decision which was notified in October, 2008 issue of Chartered Secretary, has decided that with effect from 24th June, 2011, for the purpose of clause (c) of Regulation 48 of the Company Secretaries Regulations, 1982, the number of trainees to be sponsored by the Company Secretary in Practice (PCS) including a partner in a firm of Company Secretaries, will be equal to the numbe.. Full Article

A local court trying Satyam Computers multi-crore accounting scam today recorded the version of Company Secretary of Mahindra Satyam G Jayaraman. Incidentally, Serious Fraud Investigation Office (SFIO) has named Jayaraman as an accused in the Satyam scam. The case is separately being tried in another court. Full Article

Ministry of Finance has today issued the above Notification amending Point of taxation Rules, 2011. Rules 7 has been substituted by a new Rule whereby, point of taxation in respect specified service providers which includes Chartered Accountants (individuals or proprietary firms or partnership firms) will be the date on which payment is received. Full Article

Shri Vinayak S. Khanvalkar has been elected as PRESIDENT of the Institute of Company Secretaries of India (ICSI) w.e.f 19th January 2010.Shri Anil Murarka has been elected as the VICE PRESIDENT of the Institute of Company Secretaries of India (ICSI) w.e.f 19th January 2010. Full Article

The circular states that audit envisaged under Regulation 22 of the SEBI (Credit Rating Agencies) Regulations, 1999 shall include an internal audit to be conducted on a half yearly basis by Chartered Accountants, Company Secretaries or Cost and Management Accountants who are in practice and who do not have any conflict of interest with the CRA. Full Article

The Ministry of Corporate Affairs took up a comprehensive revision of the Companies Act, 1956 (the Act) in 2004 keeping in view that not only had the number of companies in India expanded from about 30,000 in 1956 to nearly 7 lakhs, Indian companies were also mobilizing resources at a scale unimaginable even a decade ago, continuously entering into and bringing new activities into the fold of the Indian economy as well as Internationally. Full Article

2) Period for which the issue may remain OPEN:Rights offer shall be made by Notice specifying the number of shares offered and limiting a time not being less than 15 days from the date of the offer within which the offer, if not accepted, will be deemed to have been declined {Section 81(1)(b)}. Full Article