The list of Indian promoters, who have mortgaged their equity holding to raise funds, is growing by the day. Nearly 10 companies on Tuesday provided the stock exchanges with details of shares pledged by their promoters.
Larsen & Toubro (L&T) on Wednesday said the company was against an e-auction process to determine a suitable buyer for Satyam Computer Services. Satyam is not a commodity so that buyers can opt for an e-auction platform to buy it. It is a public listed company and we would not prefer an e-auction of the […]
In an ironic twist to the ongoing Satyam saga, a clutch of front firms promoted by the founder of Satyam Computer Services, B Ramalinga Raju, and his family, have demanded repayment of Rs 1,230 crore that they lent to the software firm.
Indian chartered accountants may soon get to practice Down Under. This could be one of the positive fallouts of the mutual recognition agreement (MRA) that accounting bodies of India and Australia are set to initial here on Tuesday.
The CID on Monday levelled serious allegations against auditors of Pricewaterhouse and its two Hyderabad partners S Gopalakrishnan and Srinivas Talluri by claiming that the company had no branch in Hyderabad and that these two had no connection with the firm.
IMPORTANT ANNOUNCEMENT Since the Elections to the Lok Sabha and Legislative Assemblies of some States are likely to be held in the months April and May, 2009, it has been decided to hold the next Chartered Accountants PE-II, PCE, Final (Old and New course), IRM, MAC (Part I), TMC (Part I), CMC (Part I), ITL […]
The Central Board of Direct Taxes (CBDT), the apex body for tax matters in India, is actively considering a proposal that will allow income-tax department to ask for information on accounts held by taxpayers in banks abroad. According to a person directly involved in the development, CBDT is considering adding a column in I-T returns […]
The high-profile Rs 7,000- crore Satyam fraud case is likely to be transferred to a special sessions court to expedite trial,according to a senior police officer. The Criminal Investigation Department (CID), which is probing into the fraud after the software firm’s disgraced founder B Ramalinga Raju confessed to fudging the books, will shortly recommend the […]
State co-operation minister Harshavardhan Patil on Sunday said that a task force will be set-up to look into the matters of government auditors who are working with the co-operatives commissionerate.
The ICAI’s proposal to restrain foreign firms from joining hands with Indian auditing companies has brought some relief to local chartered accountants. They observe that this proposal will put an end to the monopoly of the big four (Ernst and Young, Pricewaterhouse, KPMG and Deloitte) which has been a matter of concern to them for […]
