indian penal code

Company or corporation cannot escape liability for criminal prosecution

Finance - The Supreme Court has stated that the criminal liability of a corporation would arise when an offence is committed in relation to the business of the corporation by a person or body of persons in control of its affairs. In such circumstances, it is necessary to ascertain the degree and control of the person or body of persons, such that t...

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Mens Rea in Taxation Offences

Finance - “Mens Rea” literally means a guilty mind. It is a cardinal principle of English Common Law is that a persons cannot be convicted and punished in a proceeding of a criminal nature unless it can shown that he had a guilty mind. The principle is self explanatory. A person should be punished for deliberate defiance of law, rather than som...

Read More

What Was Behind Raju's Confession?

Finance - Did Satyam Computer Services’ promoter B Ramalinga Raju make a calculated move in owning up to a Rs 7,800 crore fraud to lessen the degree of punishment? With media reports speculating that Raju may have had benami accounts, land holdings and so on, senior government sources told Outlook Business that the suspicion from day one [&he...

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CAs-Auditors & Accountants face the music Re Satyam-Telgraph

Finance - The Institute of Chartered Accountants of India (ICAI) will not spare the auditors of Satyam Computer Services if they are found to be guilty. It could even debar them from the profession....

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Suresh Kalmadi gets bail

Finance - Suresh Kalmadi on Thursday walked out of Tihar Jail after being lodged there for nearly nine months with the Delhi High Court granting bail to him in a 2010 Games-related graft case. 67-year-old Kalmadi, who was arrested on April 25 last year, left through Jail No.4 in the evening without talking to the media hours after the High Court gr...

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CA Vijay Vaishnav and bouncers held after clash with lawyers in court

Finance - November, 26th 2011 The Gurgaon police have arrested a Mumbai-based Chartered Accountant (CA) and three bouncers for allegedly assaulting an advocate inside the court premises on Friday. Vijay Vaishnav had come to the court with the bouncers to attend a hearing, police said. A resident of Lokhandwala, he married a woman from Kendriya Viha...

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SFIO may soon get nod initiate prosecution in Satyam case

Finance - The government is likely to soon give its nod to the Serious Fraud Investigation Office (SFIO) for initiating prosecution against the persons involved in the Rs 7,800 crore-accounting fraud at Satyam Computer Services. The ministry of corporate affairs is in consultation with the law ministry and will take a decision on filing cases in t...

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Cases filed against 110 vanishing companies: MCA

Finance - Prosecutions have been filed in 110 cases for violations of various provisions of the Companies Act, 1956," the minister said in a written reply to a question on the issue of vanishing companies. A Coordination and Monitoring Committee (CMC), co-chaired by MCA Secretary and Securities and Exchange Board of India Chairman, is looking into ...

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Forged signatures of members of ICAI by non-Chartered Accountants

Finance - The Institute has been receiving complaints from members of the Institute, proprietary concerns and firms of Chartered Accountants alleging that they have come across audit reports, balance sheets, certificates etc. of different entities submitted by the said entities/someone with Banks, Financial Institutions, Income-Tax Department, etc....

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Recent Posts in "indian penal code"

Suresh Kalmadi gets bail

Suresh Kalmadi on Thursday walked out of Tihar Jail after being lodged there for nearly nine months with the Delhi High Court granting bail to him in a 2010 Games-related graft case. 67-year-old Kalmadi, who was arrested on April 25 last year, left through Jail No.4 in the evening without talking to the media hours after the High Court gr...

Read More
Posted Under: CA, CS, CMA |

CA Vijay Vaishnav and bouncers held after clash with lawyers in court

November, 26th 2011 The Gurgaon police have arrested a Mumbai-based Chartered Accountant (CA) and three bouncers for allegedly assaulting an advocate inside the court premises on Friday. Vijay Vaishnav had come to the court with the bouncers to attend a hearing, police said. A resident of Lokhandwala, he married a woman from Kendriya Viha...

Read More
Posted Under: CA, CS, CMA |

Company or corporation cannot escape liability for criminal prosecution

The Supreme Court has stated that the criminal liability of a corporation would arise when an offence is committed in relation to the business of the corporation by a person or body of persons in control of its affairs. In such circumstances, it is necessary to ascertain the degree and control of the person or body of persons, such that t...

Read More
Posted Under: CA, CS, CMA |

Mens Rea in Taxation Offences

“Mens Rea” literally means a guilty mind. It is a cardinal principle of English Common Law is that a persons cannot be convicted and punished in a proceeding of a criminal nature unless it can shown that he had a guilty mind. The principle is self explanatory. A person should be punished for deliberate defiance of law, rather than som...

Read More
Posted Under: CA, CS, CMA |

SFIO may soon get nod initiate prosecution in Satyam case

The government is likely to soon give its nod to the Serious Fraud Investigation Office (SFIO) for initiating prosecution against the persons involved in the Rs 7,800 crore-accounting fraud at Satyam Computer Services. The ministry of corporate affairs is in consultation with the law ministry and will take a decision on filing cases in t...

Read More
Posted Under: CA, CS, CMA |

Cases filed against 110 vanishing companies: MCA

Prosecutions have been filed in 110 cases for violations of various provisions of the Companies Act, 1956," the minister said in a written reply to a question on the issue of vanishing companies. A Coordination and Monitoring Committee (CMC), co-chaired by MCA Secretary and Securities and Exchange Board of India Chairman, is looking into ...

Read More
Posted Under: CA, CS, CMA |

What Was Behind Raju's Confession?

Did Satyam Computer Services’ promoter B Ramalinga Raju make a calculated move in owning up to a Rs 7,800 crore fraud to lessen the degree of punishment? With media reports speculating that Raju may have had benami accounts, land holdings and so on, senior government sources told Outlook Business that the suspicion from day one [&he...

Read More
Posted Under: CA, CS, CMA |

CAs-Auditors & Accountants face the music Re Satyam-Telgraph

The Institute of Chartered Accountants of India (ICAI) will not spare the auditors of Satyam Computer Services if they are found to be guilty. It could even debar them from the profession....

Read More
Posted Under: CA, CS, CMA |

Forged signatures of members of ICAI by non-Chartered Accountants

The Institute has been receiving complaints from members of the Institute, proprietary concerns and firms of Chartered Accountants alleging that they have come across audit reports, balance sheets, certificates etc. of different entities submitted by the said entities/someone with Banks, Financial Institutions, Income-Tax Department, etc....

Read More
Posted Under: CA, CS, CMA |

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