"02 January 2011" Archive - Page 2

KPMG appoints two Indians as new audit partners

Global audit, tax and advisory firm, KPMG Fakhro, has announced the appointment of two new audit partners to strengthen the firm's financial services and owner managed business practices in Bahrain. Islamic banking specialist, Mahesh Balasubramanian,...

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Posted Under: CA, CS, CMA |

Marriage between a Hindu and a non-Hindu not valid under Hindu Marriage Act- Delhi HC

The marriage between a Hindu and a non-Hindu solemnised as per the Hindu rites is neither valid nor the parties can claim any benefits under the Hindu Marriage Act (HMA), the Delhi High Court has ruled....

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Posted Under: CA, CS, CMA |

RBI tightens norms for investment by banks in Non-Convertible Debentures (NCDs) of maturity up to one year

Tightening investment norms, the Reserve Bank today directed banks not to invest in non-convertible debenture (NCD) of corporates unless they disclose the purpose for which the funds are being raised. "While investing in such instruments banks should...

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Posted Under: CA, CS, CMA |

Major Banks raises deposit and lending rates

Major lenders, including State Bank of India (SBI), ICICI Bank and HDFC Bank, on Friday raised their lending and deposit rates by up to 100 basis points on the eve of the New Year. While the hike in lending rate would make auto, home and commercial l...

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Posted Under: CA, CS, CMA |

ICAI President's Message – January 2011

Shri Pranab Mukherjee, Hon’ble Finance Minister of India, while inaugurating the 42nd Regional Conference of SIRC at Kochi applauded the role of ICAI. He complemented the Institute ‘for its initiatives to work with financial institutions in streamlin...

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Posted Under: CA, CS, CMA |

ICAI launches Live Virtual Classes in 22 Cities

Live Virtual Classes started on December 28,2010. Inaugurated by ICAI president CA Amarjit Chopra. Classes will start from second week of January 2011.Live virtual classes will be conducted in 22 cities across India. Following are the list of 22 ci...

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Posted Under: CA, CS, CMA |

Subhir Chandra is CBDT chairman

Having accepted the Mankad committee recommendation which limits the tenure of CBDT chairman to one year, Sudhir Chandra IRS 1973 Member Investigation assumed charges on Friday in place of retiring Chairman SSN Murthy. Prior to this new role, Mr Chandra, a 1973-batch Indian Revenue Service (IRS) officer, has been Member (Investigation) in...

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Posted Under: CA, CS, CMA |

Income Tax dept gets info on IPL finances from UK, Mauritius

The Income Tax department has got substantial information from the UK and Mauritius on overseas accounts of "non-residents" who invested in the cash-rich IPL after months of communication with the two countries. The department, as part of its probe into financial dealings in the T20 tournament, has also sent official requests to Switzerla...

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Posted Under: CA, CS, CMA |

CITI Bank Fraud- Hero Group exposure Rs 28.75cr, Police questions CFO

Hero Group said on Friday its exposure in the alleged financial fraud unearthed at Citigroup's Gurgaon branch in Haryana was Rs 28.75 crore and that it was taking action to recover its dues. On December 28, US-based Citigroup had said it was investig...

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Posted Under: CA, CS, CMA |

Citibank fraud- RBI to probe scam

The Reserve Bank of India (RBI) has begun a probe into the Rs. 300 crore fraud at Citibank's Gurgaon branch. RBI Executive Director G Gopalakrishna told reporters on Friday, that soon a statement in this regard would be made. Shivraj Puri, a bank e...

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Posted Under: CA, CS, CMA |

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