Income Tax department today recovered documents of tax evasion worth crores of rupees during a survey at a software company in Sitapura industrial area here. Teams of Mumbai, Kanpur and Pune directorate of IT department in coordination with the Jaipur office raided three places in Jaipur and conducted survey of three companies in Jaipur, Kota and […]
Presently, all registered companies in India are required, inter-alia, under section 210 of the Companies Act, 1956 to lay down before its share holders, during its annual general meeting, a balance sheet, providing a statement of assets and liabilities of the company as at the end of the financial year. In terms of the above […]
1. Background SEBI Committee on Disclosures and Accounting Standards (SCODA) is the standing Committee of SEBI that advises on matters relating to disclosures and accounting standards. As part of a review of the extant norms relating to disclosure requirements and accounting standards for listed entities, the Committee has deliberated on certain issues, the details of […]
SEBI Committee on Disclosures and Accounting Standards (SCODA) has recommended mandatory rotation — every five years — of the partners of the audit firms signing the accounts of a listed company.
THIRD Party Administrators (TPAs), which process health insurance claims and make payments to hospitals for treatment of subscribers in cashless systems, may soon have to deduct tax from the payments they make to hospitals. The apex direct tax body, Central Board of Direct Taxes (CBDT), is likely to issue a directive to this effect, said an […]
SUMMARY OF CASE LAW Mere allegations contained in a line or two against the directors without specifying the violative act committed by any of the directors would not suffice to make the directors offenders so as to summon them for the offences under SEBI Act; mere bald averments in the complaint do not make the […]
Govt. Launched website of Copyright Office providing facility of on-line filing of copyright applications Shri Kapil Sibal, Union Minister of Human Resource Development launched a new Portal of the Copyright Office which includes a facility of on-line filing of copyright applications, here today. Also present on the occasion were Shri R.P. Agrawal, Secretary (HE) and […]
PD/A-32/2009 9th September, 2009 Smt. Usha Thorat Deputy Governor Reserve Bank of India Central Office Building 18th Floor, Shahid Bhagat Singh Road Mumbai-400 001. Madam, Sub: Procedure for allocation of Central Statutory Audits of Public Sector Banks As you are already aware that we have been expressing our serious reservations and concern in respect of […]
We are producing below the clarification in regard to the above published on ICAIs website. 13th September, 2009 The Editor. The Economics Times, Times House, 7, Bahadur Shah Zafar Marg, New Delhi – 110002 This has reference to the lead news item entitled “ICICI Bank’s Rs. 10K-cr bad loans under lens“ by Mr Anand Rawani published in your esteemed […]
THE INSTITUTE of Chartered Accountants of India (ICAI) has raised questions about ICICI Bank’s home loans business and has sought a fresh central bank audit of a two-year-old sale deal of dud loans, after a Mumbai-based chartered accountant spotted irregularities in some loans.“The regulator should re-audit assets sold to ARCIL,” ICAI president Uttam Prakash Agarwal […]
