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Finance : Syed Adeel Shah Vs Directorate of Enforcement (Jammu and Kashmir High Court) It appears that in an earlier round of litigation whe...
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Finance : IFSCA Circular IFSCA-PLNP/40/2024 outlines new guidelines for Credit Rating Agencies in the IFSC, following SEBI's latest regulati...
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Finance : Explore the International Financial Services Centres Authority (IFSCA) Regulations 2024, governing payment and settlement systems ...
aragraph 10 of AS 19 Leases requires the lease classification to be made at the inception of the lease., It further states that ,…If at any time the lessee and the lessor agree to change the provisions of the lease, other than by renewing the lease, in a manner that would have resulted in a different classification of the lease … the revised agreement is considered as a new agreement over its revised term. Changes in estimates (for example, changes in estimates of the economic life or of the residual value of the leased asset) or changes in circumstances (for example, default by the lessee), however, do not give rise to a new classification of a lease for accounting purposes.,
AS 16 Borrowing costs defines a ‘qualifying asset’ as an ‘asset that necessarily takes a substantial period of time to get ready for its intended use or sale.’ It also clarifies that ordinarily, a period of twelve months is considered as a substantial period of time unless a shorter or longer period can be justified on the basis of facts and circumstances of the case. In this case, the manufacture of each aircraft involves a normal time period of 24 to 30 months. Therefore, the aircraft is a qualifying asset under AS 16.
India has emerged among the four fastest wealth creator countries in the world and its growth momentum is expected to gather further steam going forward, a global study has said. In its annual Global Wealth Report, management consulting firm Boston Consulting Group has listed the US, China, the UK and India as the nations showing the largest absolute gains in wealth in 2010.
Pension regulator, PFRDA, today said that it would like to maintain the 50 per cent limit on investment in equities for the new pension fund, regardless of the recommendation of the Bajpai committee. We think that at the current stage of pension market in the country, investing more than 50 per cent in equities is not going to be fair to investors in terms of the risk that has to be taken, and therefore, we tend to retain the cap at 50 per cent, Pension Fund Regulatory and Development Authority (PFRDA) Chairman, Mr Yogesh Agarwal, said on the sidelines of the 26th Skoch Summit here.
Union Finance Minister Shri Pranab Mukherjee said that the success of fiscal policy is closely tied with optimal utilization of public resources. He stated that numerous factors make expenditure reforms an extremely challenging and uphill task. There is significant scope to reform the expenditure policy of the Government for rationalization of public spending, the Minister added.
Country’s largest insurer LIC today announced launch of health insurance plan Jeevan Arogya which offers comprehensive hospitalisation benefits for the whole family. A unique feature of this plan is that it also offers to cover the parents in-law of the policy holder besides spouse, minor children and parents, LIC said in a statement.
Media conglomerate Sun TV Network and low-cost air carrier SpiceJet nosedived on the bourses, amid reports that Dayanidhi Maran — the brother of the owner of both the companies — was named in a public lawsuit over the 2G spectrum scam.
A Delhi court on Thursday dismissed pleas for a direction to the CBI to make Reliance ADAG chairman Anil Ambani , Tata group Chief Ratan Tata , corporate lobbyist Niira Radia and DMK chief M Karunanidhi’s wife Dayalu Ammal , as accused in the 2G spectrum scam.
Buoyed by better-than-expected performance on government finances’ front in 2010-11, the Centre on Thursday said it will keep a tab on public expenditure to ensure that Budget targets for this fiscal too are achieved. Efforts to get the economy on the path of fiscal prudence are on track… The government is committed to achieve the fiscal targets, an official statement quoting finance minister Pranab Mukherjee at a meeting of Consultative Committee held on Wednesday said.
The Birmingham City Council led by the Conservative party has become the first council or local authority in Britain to cut jobs and outsource them to India, sparking protests from employee unions. Reacting to the council’s move, Unite union national officer Peter Allenson said: ‘This is an outrageous decision and Unite will fight tooth and nail to stop this Tory-led council from exporting valuable jobs overseas. ‘We fear that this could be just the beginning and other councils could follow suit. Thousands of public sector jobs could go. Once these jobs go they will not come back.’
