The Government has said statutory auditors for Government Companies are appointed by the Comptroller & Auditor General of India (C&AG) in exercise of the powers conferred under section 619(2) of the Companies Act, 1956 as amended vide Companies (Amendment) Act, 2000.
The Government has said that the Department of Public Enterprises has so far not issued any guidelines regarding the assessment of working of non-official Directors on the Board of Central Public Sector Enterprises (CPSEs).
Regulation of Tariff has been mandated to Telecom Regulatory Authority of India (TRAI) vide the TRAI Act of 1997. As per the extant TRAI guidelines, there is no bar on offering tariff plans such as Zero Rental Plans provided that there are no fixed monthly charges applicable in such plans.
Composite FDI (Direct + Indirect) in telecom sector is 74%, which is sectoral cap. After increase of FDI limit from 49% to 74% in November 2005, the companies as per list given in the Annexure have utilized increased FDI ceiling for telecom services.
The Government has said that the Institute of Chartered Accountants of India (ICAI) has not reported any irregularities in the accounts and violations of auditing norms by some Indian Premier League (IPL) teams. This information was given by Shri Salman Khurshid, Minister of Corporate Affairs, in written reply to a question in the Rajya Sabha today.
Concerned over brokers misusing the funds lying in investors’ trading accounts, market watchdog SEBI has asked the brokerage entities to return the clients’ un-utilised cash at the end of every month or quarter.
Under attack for rising prices, Prime Minister Manmohan Singh on Sunday said the government was making every possible effort to control “high inflation” and insulate poor from its adverse impact.
Holders of about 3 crore inoperative provident fund accounts may not get any interest on their deposits from the next fiscal if the recommendations of the EPFO’s advisory body, Finance and Investment Committee (FIC), are approved.
August 14, 2010. As students are aware, the matter relating to extending the facility of appearance in the final examination during the last 12 months of their articleship training by students who originally registered themselves for the Professional Education – II (PE-II) course as well as those who converted themselves from PE-II to Professional Competence Course (PCC)/Integrated Professional Competence Course (IPCC)
Union Finance Minister, Shri Pranab Mukherjee asked the Public Sector Banks (PSBs) to accelerate the financial deepening else it could constraint the full potential of the Indian economy. The Finance Minister said this is essential to maintain high GDP growth trajectory.
