Investor Marc Faber said China’s economy will slow and possibly “crash” within a year as declines in stock and commodity prices signal the nation’s property bubble is set to burst. The Shanghai Composite Index has failed to regain its 2009 high while industrial commodities and shares of Australian resource exporters are acting “heavy”, Faber said. The opening of the World Expo in Shanghai last week is “not a particularly good omen”, he said, citing a property bust and depression that followed the 1873 World Exhibition in Vienna.
Insurance regulator IRDA, locked in a turf war with capital market watchdog Sebi over regulation of unit-linked policies, has reemphasised that insurers should offer assured life insurance cover with ULIPs. Reiterating its December 2005 order on ULIPs, IRDA in an order late last night said: “All Unit linked Insurance products (ULIPs), including pension/annuity products must have a minimum assured sum payable on death.”
Form 11 is made available at http://llp.gov.in. All LLPs whose financial year closes on 31st March of every year has to file Form 11 within 60 days from the date of financial year closure without any late fee and later it attracts late fee at the rate of Rs. 100/- per day. The due date falls on 30/05/2010.
May 4, 2010- In view of the disruption in local train traffic due to the strike call of Railway Motor – men, and in order to avoid hardship to the candidates appearing in CA exams at different Centres in Mumbai city and its suburbs, it has been decided to allow extension of time for late entry to CA examinations upto 3.00 p.m. (instead of 2.30 p.m.) in respect of the Exam Centres located in Mumbai and its suburbs.
The Government has said that the Institute of Chartered Accountants of India (ICAI) is the Regulator for Chartered Accountancy profession in India and it is collecting information whether top multi-national firms have flouted norms to provide services in the country. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that as far as the functioning of multinational accounting firms is concerned the Ministry has collected the following information from the relevant Central Govt. Departments:
Serious Fraud Investigation Office (SFIO), functioning under the Ministry of Corporate Affairs, has handled 61 cases for investigation during 2004-05 to 2008-09. Giving this information in reply to a question in the Rajya Sabha, the Minsiter for Corporate Affairs, Shri Salman Khurshid told the House that SFIO has filed prosecutions in the matter of 32 companies against 632 accused (which includes individuals as well as companies) during the last five financial years. He said that as the SFIO is an investigating agency and not a revenue earning organization, hence the benefits on account of an investigating agency cannot be quantified in terms of revenue.
