The CA insitute had asked the SFIO numerous times for details against the auditor, but it has not been furnished till now
The Supreme Court Tuesday extended the stay on criminal proceedings against former Wipro chairman Azim Premji, his wife and others on their plea seeking quashing of summons issued by a Bengaluru court on a "frivolous" and "mischievous" complaint filed by an NGO alleging breach of trust and corruption in merger of three companies with a Premji group firm. A bench of justices S K Kaul and M M Sundresh was hearing an appeal filed by Premji challenging the Karnataka high court order of May 15 which had rejected their pleas for quashing of the January 27 summons issued by the trial court.
Finance Minister Nirmala Sitharaman on Tuesday reviewed with Infosys officials the technical glitches that continue to mar the new income tax e-filing portal. Sitharaman, along with Minister of State for Finance Anurag Thakur, revenue secretary Tarun Bajaj, CBDT chairman Jagannath Mohapatra and other senior ministry officials, went point by point on the issues facing the new portal with officials of Infosys - the vendor which developed the site. While there was no official word on what transpired at the meeting, a statement issued by the Institute of Chartered Accountants of India (ICAI) said "the technical glitches shall be addressed fast". ICAI representatives attended the meeting on Tuesday.
In the aftermath of the PMC Bank mess which was in the RBI's highest rating of 'A' category, trustworthiness of these ratings may be up for a review.
A bench headed by Chief Justice P Sathasivam said the issues raised in the plea need 'examination' and issued notice to the Centre, RBI, Central Board of Direct Taxes, the Institute of Chartered Accountants of India, PwC and the audit firms sharing its brand name.
'Even if Serum Institute and Bharat Biotech were successful in ramping up production overnight, what happens to the capacity after the demand from India is met?' asks Sanjeev Nayyar.
The Indian regulatory framework forced Citi to hibernate -- contrary to the claim that it never sleeps!
Fraud is a big concern among many board members.
Alan Baptist reveals how he went from 95 kg to 65 kg.
At 13, Anoushka Jolly has received funding for her app Kavach through which students like her can report incidents of bullying and harassment anonymously
Aam Aadmi Party chief Arvind Kejriwal on Saturday stoutly defended himself against the opposition's criticism of him travelling abroad in business class, saying that it was his dream for India that an 'aam aadmi' should also be able to travel the same way.
Prof B Ravishankar from Mylapore, Chennai shares his inspiring story.
India cannot afford to adopt any coercive measures against the military even if it disapproves the military takeover, notes Dr Rajaram Panda.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
The government must undo the damage inflicted by the flawed policies of globalisation, and India should be converted into a country where entrepreneurs can thrive and the entire population can participate in the economy, says Arvind Kumar.
Merger of the three key ministries is expected to help in removing the hurdles in these areas.
A theory that is doing the rounds is that with election nearing, this depreciation of the rupee will allow politicians of all hues to bring back their ill-gotten wealth.
There has been an exponential increase in the use of technology to validate financial numbers, with a greater reliance on electronic evidence, use of live videos where possible, data analytics, and project management software to overcome the physical limitations in verifying transactions and accounts.
Should we really pay attention to them, asks Ajit Balakrishnan.
Only the future will tell if Modi can leave his mark on the Ukraine crisis. Nonetheless, it is both a challenge and an opportunity for India's diplomacy, notes Rup Narayan Das.
Face Rs 1,000-cr minimum alternate tax demand
The independent institute advising the PM on jobs seems to have missed the point that the challenge is to create net additional jobs, says Mahesh Vyas.
The run-away boy landed in Ranchi and after wandering in Mumbai, and New Delhi reached Bhopal station where the police caught him and handed him over to Umeed, he said.
The government appears serious about its intent to do away with the sore points in the taxation laws.
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
Observing that the Indian Supreme Court plays the role of a 'counter-majoritarian institution', Justice Chandrachud said it is the duty of the top court to 'protect the rights of socio-economic minorities'.
Sebi can also sweeten it with a stipend of Rs 5,000 each and charge the Rs 240 crore to the Sahara account
It hopes to attract billions of dollars in investment by this move, and may ease some restrictions on foreign inflows.
The time the companies have to get ready for GST is 6 to 12 months.
A bench of Justices Arun Mishra and U U Lalit said, if home buyers are not ready to pay their outstanding amount, then the court will have to bundle up the projects.
The deal comes at a huge cost to minority shareholders who have till date lost close to Rs 5,500 crore that were written off United Spirits' books
'We have integrated start-up space created in almost all the 14 district headquarters of the state.'
'They have incubation facilities providing entrepreneurs common facilities like shared software, legal support, fab labs, hardware, manufacturing facilities and services like chartered accounting facilities, etc, enabling the start-ups to concentrate on technology R&D and product development.'
In a major crackdown on domestic shell companies, the government on Friday decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
In India, it is not easy to fight it out with the large banks which are nimble-footed and technology-savvy and are continuously innovating on the retail turf with newer products for customer acquisition.
With this, Heineken's stake has risen from 39% to 42.2%.
'What the long term repercussions of the Ayodhya judgment are will unfold in time.' 'And I hope the consequences are not going to be as damaging to us as they were to Pakistan,' says Aakar Patel.
The government is going all out to spread awareness about the new indirect tax regime, and training lawmakers is being seen as a necessary first step.
Every political party loves to use the bait of loan waiver to woo the electorate. If their hearts bleed for the poor, they can always use the party funds to pay off the lenders, suggests Tamal Bandyopadhyay.
Businesses that are engaged in both taxable and non-GST supply have re-structured themselves into separate entities to avoid elaborate compliance, says Sudipto Dey.
