The income-tax department is making a last-ditch effort to lay its hands on the $8 billion allegedly stashed away by Hasan Ali Khan, a Pune-based stud farm owner, who is being investigated by the income-tax department as well as the Enforcement Directorate (ED), which deals with violations of rules governing use of foreign currency.
The Institute of Company Secretaries of India (ICSI) is working towards creating more number of company secretaries from rural and semi-urban areas in the east, Mamta Binani, the first lady chairperson of the Eastern India Regional Council of ICSI, said on Monday.
In the context of the recent directions of the Securities and Exchange Board of India (SEBI) to 14 insurance companies directing them not to issue any offer document, advertisement, brochure soliciting money etc from investors, the IRDA deems it appropriate to issue the following statement.
The Department of Public Enterprises (DPE) has taken the initiative to build and maintain a database of incumbents of Boards of Directors of CPSEs. In its Results Framework Document for the year 2009-10, DPE had committed to launch an online portal for database of Directors of CPSEs by 15th March, 2010.
The Finance Minister, Shri Pranab Mukherjee initiated the process of disbursement of disgorgement proceeds to investors who have been identified as rightful beneficiaries of the gains recovered from the wrong doers, here today. Describing this as a significant milestone, the Finance Minister said that this is the first time that not only the manipulators are being penalized but the amount recovered is being redistributed to the persons who were deprived of their gains.
The government today said the two regulators SEBI and IRDA have agreed to maintain the status quo that existed before market regulator’s ban on 14 life insurers from raising funds for unit-linked schemes. The status quo will be maintained till a court decides who can regulate ULIP schemes, Finance Minister Pranab Mukherjee told reporters here. ULIP is an insurance product in which a bulk of the premiums is invested in equities and bonds.
A city court today directed the CBI, probing the multi-crore accounting fraud in Satyam Computers, to file a memo before it by April 16 on whether it has locked the record rooms at Satyam Technology Centre (STC) and its ‘My Home Hub’ premises here.
In what would be good news for many firms, a scheme is being prepared to avoid criminal prosecution for delay in filing one’s balance-sheet with the Registrar of Companies (RoC).The Union ministry of corporate affairs is working on a scheme of compounding, which also modifies the existing charges in this regard for regularising the delay, beside the proposed avoidance of criminal prosecution. It is likely to be rolled out in September and is being discussed with the various regulators.
As per the Instructions received from our Professional Development Committee at Head Office in Delhi, we are constrained to withdraw all our nominees from the Audit Allotment Committees appointed at the level of local District Deputy Registrars, as the consultative process is not satisfactory in its entirety as per circular dt. 27.01.2010, in spite of our earlier representative in the matter.
Wellington: New Zealand may have 30,000 chartered accountants, but a large number of accountancy firms are outsourcing their work to India. At least two New Zealand accountancy firms, including Polson Higgs, have been progressively outsourcing back-office accounting to India, taking advantage of cheaper labour and different time zones.
