CAclubindia News

Cases of corporate frauds are on the increase

05 September 2011 at 22:47

There is no verified information available to suggest that the cases of corporate frauds are on the increase. Number of prosecutions filed for the violations of the provisions of the Companies Act, 1956 for the last three years are as

Posted in Corporate Law | 3774 Views

Branch Expansion of Foreign Banks in India

03 September 2011 at 11:37

As on 29.8.2011, 38 foreign banks are functioning with 321 branches in India. Reserve Bank of India has givenfollowing approvals for opening maiden branch/branch expansion in India during 2010 and 2100:- Branch/Branch expansion in India du

Posted in Community & General | 1 comments | 8409 Views

FEMA Violations - Not to be prosecuted as a civil in nature

03 September 2011 at 11:37

The Foreign Exchange Management Act, 1999 is a civil act in nature as such there is no provision for launching the prosecutions. During the last three years i.e. 2009-10,2010-11 and 2011-12 (upto July 2011) , the Directorate of Enforcement has

Posted in Community & General | 7326 Views

Indian Growth Story to Remain Largely Intact

03 September 2011 at 11:37

The uncertainty in the global markets due to recent developments in United States of America (USA) and Euorzone have had some impact on capital markets in India. The economy, however, is basically domestic demand driven, as about 85 per cent of it

Posted in Community & General | 3741 Views

Legislation for Protection of Interest of Depositors

03 September 2011 at 11:36

The Reserve Bank of India (RBI) Act, 1934 provides adequate protection to small depositors in financial institutions. The interest of Depositors in financial establishments can be broadly divided into two segments (a) companies registered as Non-Ba

Posted in Community & General | 7020 Views

Government takes Various Steps to Curb Circulation of Fake Currency

03 September 2011 at 11:20

The steps taken by the Government to curb circulation of Fake Indian Currency Notes (FICN) in the country include stepping up of vigilance by the Border Security Force and Custom authorities to prevent smuggling of fake notes; dissemination of i

Posted in Community & General | 2 comments | 9447 Views

ICAI - President's Message - September 2011

30 August 2011 at 15:22

Let me first offer my sincere regards to the former President of India and great philosopher Dr. Sarvepalli Radhakrishnan on the eve of the Teachers Day that is celebrated on 5th September, i.e. his birthday

Posted in Community & General | 2 comments | 16635 Views

Notice for Membership Fee to avoid from Cancellation of Certificate of Practice

30 August 2011 at 13:41

FOR ATTENTION OF MEMBERS In order to avoid removal of their names from the Register of Members and cancellation of Certificate of Practice, Members who have not paid their fees are requested to remit the same on or before 30th September, 2011 as

Posted in Community & General | 4 comments | 9450 Views

Functioning of Independent Directors

29 August 2011 at 17:17

The concept of Independent Director has been proposed in the Companies Bill, 2009. Clause 147 of the Bill, provides for duties of directors which include the duty to act in good faith in best interest of company, to act with due and reasonable care

Posted in Corporate Law | 1 comments | 7446 Views

Strengthening of Serious Fraud Investigation Office (SFIO)

29 August 2011 at 15:49

Strengthening of Serious Fraud Investigation Office (SFIO) Keeping in view the recommendations made by Vepa Kamesam committee, it is proposed to give statutory recognition to SFIO. Besides, powers such as treating its investigation report as a r

Posted in Corporate Law | 5559 Views