In continuance of its commitment to good corporate governance, the Institute of Company Secretaries of India (ICSI) bestows the ICSI National Award for Excellence in Corporate Governance every year on the Best-Governed Companies in India.
The Public Sector Oil Marketing Companies have started placing details of the components of petrol prices on their websites. The measure will help the people in understanding mechanism of the pricing of petroleum products. The companies include Indian Oil Corporation, Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited.
A clerk employed with the State Road Transport Authority here was found to own property worth over Rs 40 crore. This came to light during a raid by sleuths of the Madhya Pradesh’s Economic Offences Wing (EOW) on Sunday.
Accounting regulator ICAI today said it will decided the case concerning former CFO of Satyam Computer in the Rs 14,000-crore accounting scam within a week. The disciplinary committee of ICAI will take a decision based on the available documents against ex-Satyam CFO. The report will be finalised by the Committee with a week’s time, said president of the Institute of Chartered Accountants of India (ICAI) G Ramaswamy.
Apex accounting regulator ICAI has recommended that companies be allowed to account for losses arising from foreign exchange derivative trade over several years. The measure, according to sources, would prevent the companies from showing huge notional losses, which they have suffered on account of exposure in forex derivative market.
It is informed that under the Income Tax Act, search and seizure is conducted on the basis of specific and credible information regarding tax evasion, and after conducting necessary verification. Information technology tools, such as CASS and ITDMS, have been developed and are being extensively utilized by the Income Tax department to unobtrusively select cases for scrutiny or verify information before taking intrusive action. In the current year, the number of search warrants executed has declined compared to last year.
In order to provide enhanced services to its stakeholders, MCA in a joined up service with the Trademark department has provided a facility for searching the trademark database before applying for Name availability. You can now use the link ‘Public Search of Trade Marks’ available on the MCA21 portal before applying for a company name to verify that the name is not subjected to any trademark or pending for trademark registration.
Buoyed by an over 30% spike in savings deposits after it increased the interest rate to 6% two months ago, private sector lender Yes Bank today again increased the same to 7% to further attract more such low-cost funds.
The government withdrew the Companies Bill and Pension Fund Regulatory and Development Authority Bill on Wednesday after the BJP opposed the first and coalition ally Trinamool Congress withdrew its support for the other.
