Allaying apprehensions that global events like high oil prices may impact growth, Finance Minister Pranab Mukherjee today exuded confidence that the economy would return to nine per cent growth in 2011-12.
Coinciding with International Women’s Day , the Corporate Affairs Ministry on Tuesday said it would make it mandatory for companies having five or more independent directors to have at least one female independent director.
The Securities Appellate Tribunal today adjourned the hearing in the PriceWaterhouseCoopers-Sebi case to March 15, a company official said. The matter came before SAT yesterday. The case relates to the multi-crore rupee Satyam accounting scam wherein its Founder B Ramalinga Raju admitted to cooking up the company books. PwC was the auditor to the IT major at that time.
The employee strength of foreign banks in India dropped by over six per cent in 2010, with as many as 19 of the 32 overseas lenders in the country reporting a dip. According to the ‘Statistical Tables Relating to Banks of India’ released by the Reserve Bank of India, from 29,582 in 2009, the number of employees fell to 27,742 in 2010, a fall of 6.22 per cent.
Applicaions are invited from Partnership Firms only indicating details of the Firms as indicated below for appointment. The application shall contain the following details : (1) Year of establishment (2) Details of Partners (3) Photo copy of certificate of Institute of Chartered Accountants / Institute of Cost & Works Accountants of India, (4) Location of Registered Office & Branch of the Firm (5) Name of Qualified Assistants alongwith membership no. (6) Experience in Coal Industry specifying nature & year of audit and name of the Subsidiary (7) Audit experience in Public Sector Undertakings / Govt. / Scheduled Banks specifying nature & year of audit and name of the Company.
If the Bar Council of India has its way, all advocates in the country will soon have to accept fees only by cheque. And if the payment is to be made in cash, proper receipts must be furnished to the client and a register of the same will be required to be maintained by advocates.
Suspecting the use of black money to finance deals in the country’s booming real estate sector, the Income Tax Department is keeping close tabs on the sources of funding for developers’ lucrative projects. “The focus of the Income Tax Department is real estate developers as the department has received many complaints of the involvement of black money in these deals. There is a large amount of money involved in the sale and purchase of land and huge income is generated,” a Finance Ministry source said.
Government today sought to allay members’ apprehension in the Rajya Sabha that black listed NGOs could be getting funds from the Centre. “No blacklisted NGO can get grant-in-aid,” Social Justice and Empowerment Minister Mukul Wasnik said in Question Hour. He said that NGOs are given grant in aid only after recommendation of the state governments who are duly informed by ministries whenever any NGO is blacklisted.
The Union Budget 2011-2012 is likely to be more beneficial for the special and underdeveloped states, including J&K, Himachal Pradesh and Bihar, rating agency Fitch said on Wednesday.”The Union budget 2011-2012 is a credit positive for special-category states, who receive a larger share of their revenues from the central government. Underdeveloped states are benefited from higher allocation to Backward Region Grant Fund in FY12,” Fitch Ratings Director Devendra Kumar Pant said.
Company secretaries’ body ICSI today said it has signed an agreement with United Stock Exchange of India (USE) for exchange of information, consultation and co-operation. Under the memorandum of understanding (MoU), the two organisations will share research materials, publications, educational literature, demonstration material and information with each other, Institute of Company Secretaries of India (ICSI) said in a statement.
