The suit was filed on behalf of purchasers of Satyam's ADRs between January 6, 2004 through January 6, 2009. Price Waterhouse, the Indian unit of the global audit major, has been maintaining that it followed all the standard accounting principles while auditing the books of Satyam Computers. However, it also said that its auditing on Satyam could be construed invalid if the statements made by Raju in his admission letter on January 7 about the fraud were correct.
Asked about the specific damages sought in the lawsuit, law firm Vianale & Vianale LLP's counsel Keneth J Vianale said that the sum duped could be in hundreds of millions of dollars. After the scandal was revealed, trading in Satyam shares was halted by the NYSE on January 7 and the stock exchange has said that it is assessing whether the firm deserves to stay on the bourses.
Born to Zerin Rao anchooling fd Jehangir Narioshang Rao, both Parsi physicians from India, Rao grew up in Michigan and did her srom Detroit High School. She is married to Alan Lefkowitz and the couple has two children.
'If this first instalment of advance tax is paid by June 30, instead of June 15, then the interest on delayed payment will be levied at 0.75% per month instead of 1% per month,' notes Homi Mistry, a partner with Deloitte India.
Trust today means more than the belief that a brands' products will work as advertised; consumers want to believe that the company truly cares for its customers.
The court ruled that an interim debt order in favour of SBI and other banks seeking access to funds in the Mallya's ICICI UK bank account "should remain in force" but the application to make it final should be adjourned until after the hearing of his pending bankruptcy petition.
An Indian-American legal professional has been appointed the Deputy Treasurer for the Policy and Programmes of Illinois, making him the highest-ranking South Asian to serve the state administration. Raja Krishnamoorthi, 34, is currently a partner specialising in commercial litigation at Kirkland and Ellis LLP, the 1,000-attorney global law firm based in Chicago. Krishnamoorthi is the first person of South Asian descent to achieve the deputy level in the Illinois government.
From 100% tax deductions for contributions to PM-CARES fund to extending the due date for linking Aadhar and PAN card, the government has provided various tax relief and extensions in deadlines for statutory compliances, says Homi Mistry.
As many as 14 central government services have already been integrated with the e-biz portal.
Vadra's interim protection from arrest was extended till April 1.
In addition to challenges such as reining in non-performing assets (NPAs) and boosting profits, Chaudhry will have to repair the bank's reputation, build internal controls, and improve regulatory relations.
The proposed move to withdraw the DDT would help encourage investments by addressing multiple taxation of income and bringing down the effective tax rate on companies, which is among the highest in the world.
Summary of sports events and persons who made news on Monday
Tatas have joined hands with state refiner Indian Oil and exploration firm Oil India Ltd to consider bidding for acquiring Caspian Energy Group LLP's (CEG) interest in an Azerbaijan oil field.Tata Petrodyne Ltd, a wholly-owned subsidiary of Tata Sons, has joined the IOC-OIL combine to make a bid to buy CEG's 51 per cent stake in the Shivran Oil Operating Company that runs the Kyurovdag oil field in Azerbaijan, industry sources said.
The move followed after certain startups complained about facing harassment and the taxman breathing down their neck on the angel tax issue.
The 'mystery' of the education business sale by Cox & Kings is part of an Enforcement Directorate investigation, which is also examining the siphoning-off of funds to the tune of Rs 21,000 crore to dozens of so-called related-parties, highlighted by the forensic auditor.
ONGC Videsh Ltd, overseas arm of state-run Oil and Natural Gas Corporation, is likely to bid over $300 million to buy Caspian Energy Group LLP's interest in an Azerbaijan oil field.
Analysts believe the GST could boost India's economic growth by up to 2 percentage points
Asian vehicle brands, including Indian, will increase their global market share significantly in the next five years as customers shift their preferences from North American and European manufacturers, according to a new survey.
ONGC Videsh Ltd, the overseas arm of state-run Oil and Natural Gas Corporation (ONGC), is getting ready to bid for an oil field in Azerbaijan.
Large number of buyers has put purchases on hold because of a combination of factors, including high fuel prices, higher insurance cost, and firm interest rates.
PE players seal over $737 mn deals in February: Thornton.
If the spouse is the guarantor of husband's business loans, banks can hold her liable for default. Here are ways to ring-fence her assets.
'We will teach horse riding and swimming to our children. But when it comes to dealing with emotions, none of the parents or teachers will ask the child: "How are you feeling today?"'
Faced with rising gas prices, consumers will opt for fuel-efficient low-cost cars and hybrids over the next five years rather than sport utility vehicles and luxury cars
Domestic deals were the flavour of the month as there were 20 such transactions worth $2.77 billion in June 2015.
Sports Minister Sarbananda Sonowal welcomed the Court of Arbitration for Sport's decision that allowed Indian sprinter Dutee Chand to resume her career, which was brought to a halt owing to IAAF Regulation on Hyperandrogenism.
The banks also received a warning from the rating agency Care, in February 2016, after Firestar's financials deteriorated.
The RBI has cited corporate governance and regulatory issues for not extending Kapoor's term. Further, the lender has been directed to search for a successor.
India's fifth largest software services firm Tech Mahindra will acquire global network services firm Lightbridge Communications Corporation (LCC) in an all-cash deal worth $240 million (over Rs 1,486 crore).
Judge Andrew Henshaw refused to overturn a worldwide order freezing Mallya's assets and upheld an Indian court's ruling that a consortium of 13 Indian banks were entitled to recover funds amounting to nearly $1.55 billion.
Sri Srinivasan could become the first Indian-American to be on the bench of the US Supreme Court.
The Nizam's descendants, Prince Mukarram Jah -- the titular eighth Nizam of Hyderabad -- and his younger brother Muffakham Jah, joined hands with the Indian government in the legal battle against Pakistan for possession of over around 35 million pounds lying with NatWest Bank plc in London.
'Genuine' share transfer gets relief; CBDT lists three scenarios where tax would be levied
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