The Punjab National Bank’s fraudulent transactions worth Rs 11,300 crore should act as a strong trigger for the government for reducing its stake to less than 50 per cent in the banks which should then be allowed to work on the lines of private sector lenders with a full sense of accountability to their shareholders protecting interest of depositors
Its best for Entrepreneurs having dormant or defaulting LLPs, which are actually not working and upon which there is accruing penalty, to get their LLPs struck off by using the above procedure and get relief from heavy penalties of the Ministry.
Stay updated with the last date of filing Income Tax Return for A.Y. 2017-18 after amendment. Don’t miss the deadline!
News appearing in certain section of media that Tax Department has estimated that Indian banks could take a hit of more than $3 bn due to alleged fraud at PNB, is false & factually incorrect. @IncomeTaxIndia has NOT made any such prediction
As we all knows that Central Government notified NCLT Rules, 2016 on 21st of July, 2016 through notification in the official gazette. The provisions specify the professionals i.e., Company Secretaries, Chartered Accountants and Advocates who can practice before the NCLT or NCLAT.
The great jewel scam that is rocking the nation has opened up a Pandora Box on how the banks have become soft target for unscrupulous scam creators in connivance with the bank officials. It is apparent from the modus operandi of the operations that it is a systematic, well conceived and planned loot of the Indian Banking system.
It is textbook banking fraud. Let’s start with a brief overview of how trade in diamonds is settled. Rough diamonds are very expensive, easy to transport, and cutting – polishing them adds little value to the final product. This makes rough diamonds an excellent tool for round-tripping funds into India via fake invoices. Diamond firms raise credit abroad […]
Any entrepreneur having valid Aadhaar Number i.e Registration under MSME can be done by both Manufacturing Enterprise and Service Enterprise. They can be classified as follows on the basis of Annual Turnover:
The youth of today earn higher salaries enabling them to make intelligent investment decisions from their early career. When you start early, you are able to enjoy financial independence and security. However, most early 20s youngsters do not consider saving and investments one of their top priorities. Their financial freedom, education loan burden, and the […]
It is reiterated that all Concurrent Auditors are required to:- To cross verify that all outbound SWIFT messages vis-a-vis their corresponding entries are reflecting in. To ensure & confirm that second checking has been done by the Branch official who are not associated with SWIFT messages.
