The Committee of Secretaries (CoS) set up to formulate changes in the foreign direct investment (FDI) policy in sensitive sectors that are now under the automatic approval route has added a rider subjecting them to post-investment surveillance.
BJP today said it would take legal action, if the state government fails to implement a cabinet decision to impose entertainment tax on the Indian Premier League(IPL) matches here. Finance minister Sunil Tatkare’s recent announcement that there will be no entertainment tax on the IPL matches, has evoked a sharp reaction from the main opposition.
Norms for issuing export licences should be tightened, the Central Board of Excise and Customs (CBEC) has told the Directorate-General of Foreign Trade (DGFT). The directive is believed to have come immediately after a probe by the Directorate of Revenue Intelligence (DRI) showed up inconsistencies in exports of textiles, gems and jewellery, to W Asian destinations.
The Institute of Chartered Accountants of India (ICAI) organized a special address for its members on March 12, 2010 at Vigyan Bhawan, New Delhi. It was for the first time that the Hon’ble Minister of State (Independent Charge) of Corporate Affairs, Shri Salman Khurshid addressed the members of the profession since the time the Minister had taken charge of the Ministry of Corporate Affairs.
Bharti Airtel on Sunday welcomed the findings of the government-appointed special auditor and said the audit showed that the licence fees and spectrum charges paid by the company conform to the licence conditions and rulings of the regulator.
The CA institute is keen on having a role in the probes undertaken by the Central Bureau of Investigation (CBI) or Serious Frauds Investigation Office (SFIO) on any financial irregularities or corporate scams. The audit profession regulator will soon write to the Government offering its assistance in this regard, Mr Amarjit Chopra, ICAI President, told here.
In order to have uniformity in the practices adopted by different companies, the Institute of Company Secretaries of India (ICSI) has released 10 secretarial standards, recommending the Government to make them mandatory for all companies, a to p official said on Saturday.
The Institute of Company Secretaries of India (ICSI) has said that two of its secretarial standards recommendations have been incorporated in the new Companies Bill and it expects more to be considered before finalisation.
The American banking sector continues to grapple with failures and on an average, ten banks are closing down every month. This year, 30 banks have already collapsed and the numbers are expected to rise in the coming weeks. A staggering 184 banks have folded up since the bankruptcy of the then Wall Street major Lehman Brothers in September 2008.
Ten cost accounting standards have been formulated, six of them are mandatory, which will come into effect from April 1 and three more are likely to be added, according to Mr K. Narasimha Murthy, Director of IDBI and LIC Housing Finance.
