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Finance : Explore yoga fitness market trends, retention strategies, and tech innovations. Uncover insights on customer loyalty, VR classes, ...
Finance : Explore the valuation requirements across different laws in India, including the Companies Act, IBC, SEBI, RBI, and Income Tax Act...
Finance : Learn about Section 270A introduced in Finance Act 2016, effective from April 1, 2017, outlining penalties for under-reporting and...
Finance : Learn how the P/E ratio can guide your mutual fund investments. Understand its significance in stock selection, portfolio valuatio...
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Finance : New IFSC regulations effective June 6, 2024, govern bookkeeping, accounting, taxation, and financial crime compliance services, im...
Finance : IFSCA reviews Fund Management Regulations 2022 to enhance ease of business, introduce safeguards, and provide clarifications. Publ...
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Finance : SEBI's July 2024 update addresses allegations of stock market manipulation via exit polls and reveals the top sellers on June 3, 2...
Finance : Understand IFSCA's Ship Leasing Circular FAQs 2024. Learn permissible activities, definitions, and guidelines for ship lessors in ...
Finance : In present facts of the case, the Hon’ble High Court have given observations on the issue of unstamped arbitration agreement. It...
Finance : Reviewing the landmark UK Supreme Court decision in Barclays Bank UK PLC vs Philipp case. Analysing its global implications on ban...
Finance : Delhi High Court held that if the investigation is not completed then merely because the report has been filed, the right of statu...
Finance : Frequent vacancy arising in DRT is an issue which needs consideration by Government and practical solution has to be found at the ...
Finance : Syed Adeel Shah Vs Directorate of Enforcement (Jammu and Kashmir High Court) It appears that in an earlier round of litigation whe...
Finance : IFSCA extends bullion trading guidelines until October 31, 2024, or until revised requirements are issued, according to circular F...
Finance : IFSCA circular allows CRAs in IFSC to offer ESG ratings and data products, promoting sustainability, transparency, and governance ...
Finance : IFSCA Circular IFSCA-PLNP/40/2024 outlines new guidelines for Credit Rating Agencies in the IFSC, following SEBI's latest regulati...
Finance : IFSCA Circular allows Credit Rating Agencies to value assets under the Fund Management Regulations, 2022. Effective immediately as...
Finance : Explore the International Financial Services Centres Authority (IFSCA) Regulations 2024, governing payment and settlement systems ...
Upholding a district forum order, the Maharashtra State Consumer Disputes Redressal Commission recently dismissed an appeal filed by an insurance firm. The commission ruled against the Oriental Insurance Company after it appointed a second surveyor t
: A senior executive of the Hero Group was arrested by Gurgaon police on Monday as the investigative net on the Rs. 300 crore fraud at the local branch of Citibank was cast wider. The arrest of Sanjay Gupta, associate vice-president of Hero Corporate
Even as the Munjal family-run Hero Group clarified on Friday that its exposure to the Citibank fraud was a tenth of what has been reported so far, police investigators are widening the scope of the inquiry to probe both the clients as well as
Query:-Acquirer Limited acquired an engineering unit of Acquiree Limited, on a going concern basis. The unit has various fixed assets such as building, plant and machinery and furniture, which were recognized in the books of Acquirer Limited at their fair value, on the date of acquisition. Acquiree has already used these assets for certain periods and claimed the depreciation thereon. For example, it has used the building for 20 years and its remaining useful life as per schedule XIV to the Companies Act, 1956, in the books of Acquiree, is 38 years. Acquirer Limited is evaluating whether it can consider the useful lives of these assets afresh or it needs to reduce the period of usage by the acquiree in arriving at useful lives as per Schedule XIV?
Investor Limited (the company) acquired 1,000,000 equity shares of Rs. 10 each in Investee Limited (investee), for the acquisition date fair value of Rs. 9 million. In the past, Investee Limited had incurred losses, which were attributable to the investee’s venture in a new line of business and exceptional events such as economic recession. Over the period, the line of business has stabilized and started generating profits. In addition, the economic environment has improved significantly. Therefore, the investee expects to generate significant profits in the future periods. However, to write off the past losses, the investee has entered a capital reduction scheme. According to the scheme, it will reduce the face value of each share to Rs. 7 per share and adjust the resulting amount against the past losses.
A fire broke out in the factory premises of Manufacture Limited (the company), destroying 40% of its major plant. At the date of fire, the carrying amount of the plant (including destroyed portion) was 2160 million. The company needs to incur an amount of 2100 million to restore the destroyed portion. At the reporting date, the restoration work is in progress. The management believes that the company has not followed the component accounting under Indian GAAP and it will therefore apply the subsequent expenditure-related guidance. The application of this guidance will require the company to write off any subsequent expenditure incurred on the asset. Therefore, there is no need to write off the damaged portion of the plant.
The compensation for land acquired should be based on the fair market value received for similar land in the neighbourhood, but not sold in auction, the Supreme Court has asserted in the case, Karnataka Housing Board vs Land Acquisition Officer. This, said the court, was because auction sales stood on a different footing. In auction, there is an element of competition, triggered by “human ego, and desire to do better than other competitors.” This leads to high prices. On the other hand, when the auction is by banks, financial institutions or courts, “there is an element of distress, a cloud regarding title, and a chance of litigation.” These factors depress the price. Therefore, auction price should not be the criterion for calculating compensation for acquired land, the court said.
The government plans to offer stamp duty exemption for sale of accounts receivables, allowing businesses to encash sales made on credit and ensure a healthy cash flow. The finance ministry will facilitate this change by moving a new bill to regulate
Investigating agencies probing alleged financial irregularities in the 2G spectrum allocation have now ordered scrutiny of all cash transaction reports related to the funding of payments by telecom players, banks and individuals involved
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.
