NMDC

The government is understood to be considering roping in ICAI, the apex accounting body, to tighten the compensatory scheme for the people displaced by mining projects amid a furore over the proposal for 26 per cent profit-sharing in the new mining l Full Article

Australia's plan to impose a 40 per cent 'super tax' on the profits of mining companies has sent Indian miners scouting for acquisitions into a tizzy.The tax , proposed to be effective by July 2012, aims to raise an estimated Australian $9 billion for the government every year. This may severely dent the internal rate of return for projects already under consideration. This has prompted Indian firms to reassess their plans of entering the booming resources sector in Aust.. Full Article

At Ahmedabad-Based Fountainhead, a little-known coaching academy for chartered accountants, February 20 was a day of celebration. The two-year-old chartered accountants’ training institute was playing host to a recruiting team from global consulting firm Ernst & Young (E&Y), rated among the world’s top four. Full Article

Securities and Exchange Board of India has told the government that it favours giving companies five years to increase their public shareholding to 25 per cent. Sebi's letter to the finance ministry follows a proposal by Finance Minister Pranab Mukherjee to increase the minimum public holding in all listed companies - whether government- and privately-owned - in last year's Budget. Full Article