restructurings

As Maharashtra braces up for polls and celebrates its golden jubilee year, it tabled a revenue-deficit budget for the year 2009-10 on 4th June 2009 that focuses on infrastructure development and social sector. The major highlights and changes proposed are noted below : Penalty for late returns under MVAT Act reduced to Rs.5,000/- from Rs.10,000/-. Exemption [...] Full Article

To, The Chairmen/Executive Officers All the Regional Councils & Chapters of ICSI The Council of the Institute in its 183rd meeting held on 8th-9th November, 2008 has approved the new training structure as under.   I.       Duration of training  It was decided that the present period of training of 15 Months may be continued. It was decided that [...] Full Article

The Reserve Bank of India (RBI) has asked banks to review their existing policies for lending to micro and small enterprises (MSEs) and frame norms for restructuring sick units that are potentially viable. RBI also said that banks should frame policies on extension of credit facilities and non-discretionary One-Time Settlement (OTS) schemes for recovery of non-performing [...] Full Article

JPMorgan and Goldman Sachs are among the banks shortlisted to advise the new board of Satyam Computer Services as it tries to save the fraud-stricken Indian outsourcing firm, three banking  sources said on Wednesday.   The new six-member board appointed by the government to contain the fallout of country’s largest corporate scandal will consider appointing [...] Full Article