Archive for December, 2009
Corporate fought rivals and downturn with vigour
By admin at 31 December, 2009, 5:22 pm
From battering in the stock markets to the infamous financial fraud in IT giant Satyam , India Inc began 2009 on an ominous note but fought-off the effects of the global meltdown only to get sucked into pitched battles for turf or market share.
The end result is that the consumer benefited a lot with [...]
SEBI committee to consider self listing by bourses
By admin at 31 December, 2009, 5:21 pm
The Securities and Exchange Board of India (SEBI) has constituted an expert committee for corporate governance at stock exchanges. Exchanges, behaving like mere ‘for profit’ organisations, need strategic investors and owners. The committee will consider to put in place, an eligibility criteria for opening an exchange. It will also mull over the option of self [...]
Read More >>2010 Legal & Regulatory Expectations
By admin at 31 December, 2009, 5:13 pm
By Vijaya Sampath, Bharti Enterprises
The first decade of this century has seen game changing moves and tectonic shifts in power and influence in the global economy with India and China emerging from “ a faraway and hardship destination posting” to a “must have” experience on a resume. Technology is playing a key role in ensuring [...]
MCA’s sector-wise report on cos will help detect fraud
By admin at 31 December, 2009, 12:28 am
The ministry of corporate affairs is set to come out with a comprehensive sector-specific report on the sector-wise performance of companies. First of its kind, this would act as an early warning system and help detect Satyam-like frauds. The ministry would analyse the data available on MCA 21 portal, the database of 9 lakh Indian [...]
Read More >>MCA wants India Inc to set aside part of budget for CSR
By admin at 31 December, 2009, 12:27 am
“Companies should allocate a specific amount in their budget for corporate social responsibilty activities that may be related to profits after tax, cost of planned CSR activities and any other suitable parameter,” according to a ministry of corporate affairs report on voluntary corporate social responsibilities.
The report suggests that the corporate social responsibility (CSR) policy [...]
India Overhauls Corporate Governance
By admin at 31 December, 2009, 12:26 am
Indian companies will have to raise their boardroom practices to comply with a new corporate governance code aimed at reforming corporate India after the Satyam scandal last year.
The new code, produced by the Ministry of Corporate Affairs, tells listed companies to separate the role of chairman and CEO, change their external auditor every five years, [...]
ICAI to relax qualifying period for audit service officers
By admin at 30 December, 2009, 12:59 pm
Accounting regulator, the Institute of Chartered Accountants of India (ICAI) has decided to allow officials of the Indian Audits and Accounts Service (IA&AS)—the stream of civil servants who audit state-run companies—acquire the chartered accountancy (CA) qualification in less than the usual time.
Officers of IA&AS, a central government service under the government’s statutory auditor the [...]
Chartered accountant institute polls pit big 4 against small but spry rivals
By admin at 30 December, 2009, 12:58 pm
It will be a neck-and-neck battle between the ‘Big-4’ chartered accountant firms and representatives of the small and medium practitioners at the elections of the Ahmedabad branch of the CA Institute which will be held on January 9.
The Vibrant 8 panel, supported by Yamal Vyas and Durgesh Buch, and Care panel which has Ernst & [...]
2009: a year that initiated big tax policy overhaul
By admin at 29 December, 2009, 3:02 pm
The year 2009 set the ball rolling for some of the biggest tax policy changes, namely the Direct Tax Code (DTC) and goods and services tax (GST). The government also took steps to counter global recessionary trends through various economic stimulus packages.
The much-awaited DTC contains significant proposals such as reduction in corporate tax rate [...]
Finding ‘the good’ in making money
By admin at 28 December, 2009, 12:32 pm
THE concept of profit has to be understood in broad contours. Profit emanates from actions and all actions need to be grounded in righteousness.
Therefore any profit that arises out of actions that are not right can never be real profit. This is the underlying message that Gurcharan Das tries to bring to the corporate world [...]