Satyam, and now, Wipro Technologies and Megasoft, join the 300 companies that have been blacklisted by the World Bank Since 2000. The list includes four other India-based vendors.
The ministry of corporate affairs ordered investigation into the Satyam scandal by the Serious Frauds Investigation Office (SFIO), a multi-functional investigating agency that has representations from the ministry of home affairs, Enforcement Directorate and the Intelligence department.
The results of the Chartered Accountants Final, Final (New Course) Examinations, Common Proficiency Test (Paper Pencil Mode) and Common Proficiency Test (Online) held in November/December, 2008 are likely to be declared on Friday, the 16th January, 2009 around 2 PM and the same as well as the merit list (candidates securing a minimum of 55% […]
We all are still in disbelief mood as far as cash & bank balance fraud is concerned. Although there is no confirmed news, but the information gathered from some of sources of the investigating agencies (ICAI, SEBI etc.) are as under:
Small and medium-sized firms that undertake the bulk of actual manufacturing for large companies may now have to forgo a part of their revenues upfront as tax deducted at source under new rules being considered by the government to widen the tax net and make revenue collections more efficient. The government is proposing changes to […]
As an incentive for petroleum companies to go green by blending 10% ethanol with petrol, the government has exempted such fuel from excise duty. The Central Board of Excise and Customs through a recent notification has said such fuel, also known as E-10, will not attract any central excise duty. At present, a basic excise […]
The Reserve Bank Of India (RBI) has released a draft on Wednesday, proposing to review the definition of commercial real estate (CRE) exposure to be followed by banks to closely align it to Basel II definition. Any exposures towards a banks’ acquisition of units in SEZ may not be treated as CRE exposures, said RBI. […]
Qualified professionals of Indian origin, including doctors, dentists, pharmacists, engineers, architects, lawyers, chartered accountants can practise in India, Prime Minister Manmohan Singh said on Thursday, while inaugurating the 7th Pravasi Bharatiya Divas. “The Overseas Indian Citizenship Scheme, which had been announced in 2006, has elicited an overwhelming response. I am therefore happy to announce that […]
The Orissa government is mulling to raise the exemption limit for the payment of electricity duty for small scale industries (SSIs) to 25 mw from 5 Mw stipulated in the Industrial Policy Resolution (IPR), 2007. It is proposed to be made a part of the micro, small and Medium Enterprise (MSMEs) Development policy being finalised […]
The Institute of Chartered Accountants of India (ICAI) has said that the concerned partner who signed on Satyam Computers’ balance sheet will be held responsible and not the audit firm Price Waterhouse.
