The result of the Information Systems Audit [ISA] Assessment Test held on 18th June, 2011 is likely to be declared tentatively on 19th July, 2011 around 2.00 PM at the Institute’s office at New Delhi.
Corporate Affairs Minister M. Veerappa Moily took charge of his new portfolio here early Wednesday and said the passage of a new bill to replace the 55-year-old Companies Act and issues of corporate governance were his top priorities. Moily also brushed aside suggestions that he was unhappy with the way he was treated by Prime Minister Manmohan Singh and Congress president Sonia Gandhi and shifted out of the ministry of law and justice — a portfolio he was rather confident of retaining.
Government is planning to relax exit norms for not-for-profit companies to allow them to de-register without having to follow cumbersome regulations. The Ministry has been receiving representation from various stakeholders to develop a procedure for strike off name under section 560 of the Companies Act, 1956 of companies (non-profit companies) which have been granted licence under section 25 of the Companies Act, 1956, the MCA said in its proposal.
Digital Signature Certificate made mandatory w.e.f 1st July 2011 for Firms and Individuals whose accounts are required to be audited u/s 44 AB of the Income Tax Act’ 1961. Click here to download notification no. S.O. 1497(E) dtd 1st July 2011 in this regard.
As a part of the Green Initiative in Corporate Governance taken by the Ministry of Corporate Affairs by allowing paperless compliances by the companies, the Council of the Institute has decided to send the Audited Accounts and Report of the Council for the Financial Year ending 31st March, 2011 to the members of the Institute pursuant to Sub-section (5B) of Section 18 of the Company Secretaries Act, 1980 through e-mails. The Audited Accounts and the Report will also be placed on the website of the Institute.
The Ministry of Corporate Affairs has framed following criteria for declaring any financial institution as a Public Financial Institution (PFI) under under section 4a of the Companies Act,1956: Decided that with effect from 12th June, 2011, all DIN-1 & DIN-4 applications has to be digitally signed by the practicing Chartered Accountants, Company Secretaries or Cost Accountants who shall also verify the particulars of the applicant given in the applications. All these applications will be approved online.
Accounting regulator ICAI today said it will submit to the government, its suggestions on the ways to deal with the menace of black money and retrieving illegal money stashed in tax havens and overseas banks by the end of August.
The government today allowed exports of one million tonnes of non-basmati rice, lifting an over three-year old ban, in the wake of overflowing godowns. The decision to this effect was taken by an Empowered Group of Ministers (EGoM) headed by Finance Minister Pranab Mukherjee.
The Prime Minister has written to the President recommending that the following may be appointed as members of the Union Council of Ministers and has requested that the oath of office and secrecy be administered at 5.00pm today. CABINET MINISTERS :1. Shri V. Kishore Chandra Deo 2. Shri Beni Prasad Verma 3. Shri Dinesh Trivedi 4. Shri Jairam Ramesh
Suggestions for Amendments in the Company Secretaries Act, 1980, Regulations and Rules made thereunder and for Election Reforms in the conduct of Elections to the Council/ Regional Councils/ Chapters of the Institute The Council of the Institute at its 200th meeting constituted, inter-alia the following Committees:-
