regulatory authority

Price Waterhouse Coopers is not a firm of Chartered Accountants registered with the Institute of Chartered Accountants of India (ICAI). The ICAI has, however, initiated disciplinary action against M/s. Price Waterhouse, Bangalore, M/s. Price Waterhouse with head office at Kolkata and M/s. Price Waterhouse with head office at New Delhi, which are firms of chartered accountants registered with the ICAI. Full Article

The prospectus of any insurance product should state the scope of benefits, the extent of insurance cover and in an explicit manner explain the warranties, exceptions and conditions of the insurance cover and, whether the product is participating (with-profits) or non-participating (without-profits). The allowable rider or riders on the product shall be clearly spelt out with regard to their scope of benefits, and in no case, the premium relatable to all the riders put t.. Full Article

All trading members of the Exchange who are registered with Association of Mutual Funds of India (AMFI) as Mutual Fund Advisors and who have signed up with the specific Asset Management Company (AMC) of a Mutual Fund are eligible to participate in the New MFSS. For this purpose, trading members shall have to register with NSEIL as Participants by submitting an Undertaking as per the format specified in Annexure 2. Full Article

Last Year, The CBEC, had planned a Third Party Information System (TPIS), a third party information model for excise duty. Now CBEC requires to reproduce the trials with service tax. As per board, it is a very effective and non-intrusive set up to obtain all apposite data to trap the tax evaders. Full Article

The Government has said that the appointment of statutory auditor is made by the shareholders of a company in its annual general meeting and that it has no proposal to have the statutory auditors appointed by a Regulatory Authority in respect of listed companies. Giving this information in the Lok Sabha today in a written [...] Full Article