Friday, August 14, 2020

News Updates

RBI enhances Withdrawal Limit for Depositors of Punjab and Maharashtra Cooperative Bank Ltd to ₹ 25k

The Reserve Bank of India ( RBI ) has enhanced withdrawal limit for depositors of Punjab and Maharashtra Cooperative Bank Limited to Rupees 25,000. It may be recalled that the Reserve Bank of India had...

GST Evasion: Two Arrested for Issuing Fake GST Invoices Around Rs 700 cr

Two people have been arrested by the Headquarter Preventive Wing of the Central GST Commissionerate for allegedly issuing fake GST invoices of approximately Rs 700 crore. CGST officials acted upon intelligence and busted...

Finance Minister to inaugurate National e-Assessment Centre of Income Tax Department Today

The Income Tax Department is ushering in a paradigm shift in its working by introducing faceless e-assessment to impart greater efficiency, transparency and accountability in the assessment process. There would be no...

President graces 51st Foundation Day of ICSI, says an Efficient, Fair and Just Corporate Governance System is a Key Component of our Nation-Building

The President of India, Shri Ram Nath Kovind, graced and addressed the 51st Foundation Day of the Institute of Company Secretaries of India ( ICSI ) in New Delhi today (October 5,...

ICAI and ICAEW renew qualification Reciprocity Agreement to Increase Mobility of Professionals

The Institute of Chartered Accountants of India ( ICAI ) renewed its Memorandum of Understanding (MOU) with the Institute of Chartered Accountants in England and Wales ( ICAEW ) on historic day...

ICAI initiates Proactive Steps on Financial Irregularities in PMC Bank

Recently, various Media reports were reported about major financial irregularities and failure of internal control systems leading to the downfall of PMC Bank. Considering the enormity of the matter, the Institute of...

CCI approves acquisition of Shareholding in GMR Airports Limited by TRIL Urban Transport Pvt Ltd Valkyrie Investment Pte. Ltd. and Solis Capital (Singapore) Pte....

The proposed combination relates to the acquisition of up to 55.2% equity stake in GMR Airports Limited ( GAL  )collectively by TUTPL, Valkyrie and Solis. TUTPL is a wholly-owned subsidiary of Tata Realty...

Central Govt. approves MoU between ICAI and ICAEW

The Government of India has approved Memorandum of Understanding (MoU) between Institute of Chartered Accountants of India ( ICAI ) and Institute of Chartered Accountants in England & Wales ( ICAEW). CA. Prafulla...

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SEBI notifies on Procedural Guidelines for Proxy Advisors

The Securities Exchange Board of India (SEBI) has notified the procedural guidelines for proxy advisors. According to SEBI (Research Analyst) Regulations, 2014,...