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After some time I learnt that he got in a position where he is in a position to bankrupt. On further query I came to know the whole story of his loud voice of animal growling. He was into real estate business and he took two projects where construction was going and had taken a loan from around Rs.5cr and all his money is invested in construction and he is not getting any buyers for his residential flats. He also needed some more funds for the pending works and banks are reluctant to lend further at the same time his flats were not getting sold. He was in a terrible situation at that point of time. I finish the story here without going into further details.
The ice freezing waves of recession had frozen the prospects of Indian industrial growth after September 2008.Indian industries have to cut short production, rescheduling the production, stopped investments in new projects and finally followed the gate of retrenchments. No vacancy was the song being played on the streets of Indian corporate houses.
After a gap of more than a decade, the union Budget may be presented in the Lok Sabha on Saturday which happens to be February 27. “In view of holidays for three consecutive days from February 26 onwards, we can have it (Budget presentation) on February 27,” Parliamentary Affairs Minister Pawan Kumar Bansal told PTI.
The 3rd quarter results are all set to get out from the second week of January. Lot of predications and calculations as well as bets are being held on different sectors prospects. In this article I will like to dig out the invisible facts, trends and insight which we will provide us some light inside the deep fog of 3rd quarter results.
Most likely, Monday, January 4th 2010 is when you would have recovered from the new year celebrations and the weekend that follows. It will also be the day when Indian stock markets first open at 9 am. The leading association of brokers, Association of National Exchanges Members of India (ANMI), has made a last ditch attempt to stick to the current timings. But the stock exchanges have reiterated that markets would open 55 minutes earlier. Given the keen competition, they are vying to garner as much volumes for themselves as possible.
In line with the Orissa government’s commitment to usher a new era of e-governance, the state on Monday introduced hassle-free e-registration of sale and purchase of land through the public private partnership . Inaugurating the e-registration system here at a crowded meeting, chief minister Naveen Patnaik asserted that this move would ensure faster, simpler, accurate system of automation for all the 64 types of deeds in 177 sub-registrar offices as centers”.
The issue relating to the internal assignments allotted to the audit firms at the time of their appointment as statutory auditors has been examined afresh and it has been decided as under: “Audit firms should not undertake statutory audit assignment while they are associated with internal assignments in the bank during the same year. In case the firms are associated with internal assignment it should be ensured that they relinquish the internal assignment before accepting the statutory audit assignment during the year.”
The Indian automobile industry is performing with a consistency cap on its head. It has again plucked off another feather to decorate its growth hat. The automobile sector in India surprisingly did well and outperformed our expectations in terms of sales growth during 2009.When the western economies were struggling to survive their big auto giant’s Indian economy propelled to the path of growth on strong growth of auto sector in India.
The ready reckoner is a guide for the market price of residential and commercial properties, based on which stamp duty and registration fee for their sale and purchase are calculated. Under the revised rates, a land owner would have to pay more stamp duty because his land got more expensive; the developer would raise the sale price of his finished property since his land acquisition cost got higher; and a retail buyer would have to cough up more for property, stamp duty and registration fee.
An increasing number of companies are extending their accounting period to facilitate the change in financial year from January-December to the commonly-followed April-March cycle. By doing so, the companies would be required to publish balance sheet only for the fiscal year which is also the statutory requirement under Income-Tax Act, instead of preparing separate financial statements for two different accounting periods.
