(1) The main enforcing provision is Section 13 in Chapter III of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter called the Act). Section 13 provides that a secured creditor may enforce any security interest without intervention of the court or Tribunal irrespective of Section 69 or Section 69A of the Transfer of Property Act where according to sub-section (2) of Section 13, the borrower is a defaulter in repayment of the secured debt or any installment of repayment and further the debt standing against him has been classified as a non-performing asset by the secured creditor.
To Avoid Last Minute Rush And System Congestion In MCA21 Towards End Of November 2011, Kindly Expedite Filing Of Annual Return And Balance Sheet Without Waiting For The Last Days Of The Month. During This Period, Roc Facilitation Centers/ Help Desks Would Give Priority In Efiling/ Answering Queries Of Companies For Filing Balance Sheet And Annual Return. The Companies Required To File Xbrl Documents May Also Do So At The Earliest.
The Supreme Court on Monday admitted a special leave petition filed by former Union Law Minister and senior counsel Shanti Bhushan for treating his heart as a ‘plant’ for the purpose of granting him income tax wavier on expenses incurred on heart surgery.
Canara HSBC Oriental Bank of Commerce Life Insurance Company Limited (“Company”) is carrying on life insurance business in India. Company intends to identify and engage a firm of Chartered Accountant to conduct Concurrent Audit of Investment transactions and related systems starting 1st April 2012 for which this RFP is being issued.
The Union Finance Minister, Shri Pranab Mukherjee has said that listing provides an opportunity to the people of India to become shareholders in Central Public Sector Enterprises(CPSEs); while Government retains management control and at least 51% shareholding in the Government companies.
The earlier Paper had given the definition of service to ‘mean anything which does not constitute supply of goods, money or immovable property’ A number of specific inclusions or exclusions were further elaborated. Suggestions have been made that the “service” should be confined to economic transactions or transactions for consideration
The Reserve Bank has been placing the main points of discussion of the Technical Advisory Committee (TAC) on Monetary Policy meeting in public domain with a lag of roughly four weeks after its meeting. The minutes of the twenty-fifth meeting of the TAC held on July 20, 2011 were placed in public domain on August […]
NEW DELHI: In a double whammy for investors who lost their money in the Rs 400 crore Citibank Gurgaon scam as the Income Tax department has initiated a re-assessment of tax returns of these people to ascertain whether the money invested was reflected in their annual returns. The department’s various tax assessment wings will undertake […]
ORDER NO. 03/2011 – Service Tax, dated 10-8-2011- In exercise of the powers conferred by Notification No. 16/2007 – Service Tax, dated 19th April, 2007, Central Board of Excise and Customs hereby assigns to the Commissioner of Service Tax, Delhi the case specified in the following Table, for the purpose of adjudication.
Applications are invited online from the firms of Chartered Accountants who intend to be empanelled with this office for appointment as auditors of Government Companies/Corporations the year 2012-2013. The format of application will be available on our website: www.cag.gov.in from 1st January to 15 th February 2012. Chartered Accountant firms can apply/update the data showing the status of their firm as on 1st January 2012 and generate online acknowledgement letter for the year.
