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Archive: 10 November 2010

Posts in 10 November 2010

Live Course on Appeal, Pleading & Drafting under GST by CA Sachin Jain

May 15, 2024 7173 Views 0 comment Print

oin us for an immersive live course led by renowned expert CA Sachin Jain, as we delve into the intricacies of appeal, pleading, and drafting under GST.

No restriction on using common descriptive expression for goods

November 10, 2010 375 Views 0 comment Print

A division bench of the Delhi high court last week dismissed the appeal of Marico Ltd against its rival in cooking oil market, Agro Tech Foods Ltd, over the use of expressions exclusively claimed by the former. Earlier, a single judge bench had held

Finmin asks ICAI to set up panel for IFRS shift

November 10, 2010 216 Views 0 comment Print

Barely five months from the final implementation of the IFRS, the finance ministry has directed the apex accounting regulator, Institute of Chartered Accountants of India (ICAI), to set up a committee to harmonise the tax-related issues. As 1,000-plus companies with networth greater than Rs 1,000 crore converge to the international accounting standard from April 1, 2011, there is still lack of clarity as to how corporate houses would adjust their tax dues as per the new accounting standard.

IPO limit for individual investor enhanced

November 10, 2010 543 Views 0 comment Print

The Securities and Exchange Board of India (SEBI) has doubled the limit for maximum application for individual investors from Rs 1 lakh to Rs 2 lakhs across all public issues. However, there is no increase in the percentage allocation. This helps inv

Will Ernst & Young Ever Be Held Accountable for the Lehman Failure?

November 10, 2010 231 Views 0 comment Print

The more successful a fraud case is against Lehman’s executives, the less likely EY or any of its partners will suffer any consequences for their acquiescence to or complicity in the fraud. That’s not to say the firm won’t suffer slowly and painfully

CBDT may reopen income-tax returns of Big Companies to recover over Rs 27,000 crore

November 10, 2010 333 Views 0 comment Print

In one of the biggest tax recoveries to be made from blue-chip companies, the finance ministry has asked Central Board of Direct Taxes (CBDT) to reopen income-tax returns of entities found to have allegedly evaded taxes estimated at over Rs 27,000 cr

Supreme Court refuses to extend Satyam Raju's surrender deadline

November 10, 2010 309 Views 0 comment Print

New Delhi, Nov. 9 The Supreme Court on Tuesday dismissed the petition of Satyam’s founder-chairman Mr B. Ramalinga Raju asking for extending Wednesday’s deadline for his surrender. As a reason for extension of the deadline to surrender, Mr Raju, in

Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra – Last Date 25th November, 2010

November 10, 2010 1241 Views 0 comment Print

Empanelment of Chartered Accountant firms for Audit of Urban Co-operative Banks of Maharashtra.(Last Date 25th November, 2010)1. Only those Maharashtra based partnership firms which are there in the Bank Branch Auditor’s Panel 2010-11, are eligible to apply. To check your eligibility, pl visit www.meficai.org

Empanelment of Individual Chartered Accountants/ proprietary firms for Audit of Urban Credit Societies and other Societies (other than UCBs) of Maharashtra

November 10, 2010 1518 Views 0 comment Print

Empanelment of Individual Chartered Accountants/ proprietary firms for Audit of Urban Credit Societies and other Societies (other than UCBs) of Maharashtra.(Last Date 25th November, 2010) 1.    Empanelment of Proprietorship Chartered Accountant firms and members practicing in individual name for Audit of Urban Credit Societies and other Co- operative Societies (Only those Maharashtra based proprietorship firms […]

Audit Committee of the Board of Directors – Calendar of Reviews

November 10, 2010 1218 Views 0 comment Print

The instructions have now been consolidated and a comprehensive calendar of reviews to be placed before ACBs is given in the Annex. It is emphasized that the calendar outlines the critical minimum requirements of review and the bank Boards will have discretion to prescribe additional reviews to suit their requirements.

Guarantor-director cannot be dragged into arbitration

November 10, 2010 880 Views 0 comment Print

The Supreme Court (SC) ruled last week that a guarantor outside an arbitration agreement cannot be made a party to the arbitration proceedings. It reversed the judgment of the Delhi high court which had asked the guarantor to comply with the award of

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