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CS. Monika Bhardwaj, B.Com (Hons.), ACS, LL.B (I), Gurgaon This article aims to highlight that communications done through electronic mode are now recognized by Indian Law and hold true as an ‘evidence’ as well as ‘contractual liability’. Internet and electronic communications has now become an integral part of our day to day life, from SMS […]
Central Council of the ICWAI has approved on 12th September 2009 the Cost Accounting Standards on Employee Cost (CAS-7) and Cost of Utilities (CAS-8). The same have been hosted on the website of the ICWAI.
September 14, 2009 Restrictive practices while accepting bank notes It has come to the notice of the Reserve Bank of India that certain establishments are adopting restrictive practices such as not accepting notes of certain denominations or series etc. Reserve Bank of India, therefore considers it necessary to emphasise that all government/ semi-government offices, public/ […]
The government today said it would come up with a roadmap in November to help companies to adopt International Financial Reporting Standards (IFRS) which will become operational from 2011. The government will take the concerned regulatory agencies like SEBI and others on board before finalising the roadmap, Corporate Affairs Minister Salman Khurshid told reporters on the […]
A “spineless” director at leading accountancy firm, KPMG, was jailed for four years after trying to buy his second wife’s happiness with £550,000 stolen from his employer. Andrew Wetherall, 49, branded as “spineless” by the judge, spent years defrauding the expenses system at the financial and professional services firm to provide her with expensive gifts and […]
The Income Tax Department today conducted raids at various places, including the residence of NCP leader Sudamati Gutte whose family has a large industrial base. According to sources, raids were carried out at more than 35 places in the district, the details of which are yet to be known.
In a blow to the Securities and Exchange Board of India (Sebi), the Securities Appellate Tribunal (SAT) has set aside the former’s ruling in the case of Tata Tea, wherein Sebi had asked the company to pay non-compete fees to all shareholders of Mount Everest Mineral Water.Tata Tea had acquired Mount Everest in 2007, buying […]
The New Companies Bill 2009, which seeks to replace the existing Companies Act of 1956, has already factored in the lessons from the Satyam incident and would look at strengthening the role of Serious Fraud Investigation Office (SFIO) in order to arm it with legal and statutory powers to probe corporate misdoings, according to Mr […]
I recently heard that MTN will ask for Dual listing if Merger or takeover deal between Bharti and MTN happens. I wondered what this is all about as we haven’t witnessed such listing in India in past and neither I found any provisions of dual listing in our country’s law although government official some times […]
The Reserve Bank of India may, if it considers necessary for avoiding any hardship or for any other just and sufficient reason, exempt any NBFC or class of NBFCs, from all or any of the provisions of these Directions either generally or for any specified period, subject to such conditions as the Reserve Bank of India may impose.
