corporate law

The Securities & Exchange Board of India (Sebi) has told the Supreme Court that it is empowered to issue orders prohibiting companies and brokers from accessing the capital market in the interest of investors. Such orders may seem penal but are actually prev..

The capital market regulator, the Securities and Exchange Board of India (Sebi), has stepped up its drive against shady entities that operate collective investment schemes (CISs). While exploring the possibility of widening the classification of entities that float CIS, the regulator has initiated legal act..

Police laxity is a term that most would be familiar with. But ‘deficiency in service’ on part of the police when it comes to maintaining law and order may also enter the common lexicon soon.  When Dadumajra Colony residents Lal Bahadur and his son Rikhi Ram..

The Centre on Tuesday decided to shed much of its belligerence in the Supreme Court in the RIL-RNRL legal battle over sharing of KG basin gas and instead focus only on the core issue of the production sharing contract between it and RIL and the pricing of gas.  It has decided to file a clarific..

As it stands today, India will adopt International Financial Reporting Standards (IFRS) from the year 2011. Companies whose accounting year ends on March 31 will issue the first IFRS financial statements for the year 2011-12. Companies which use the calendar yea..

Accounting regulator Institute of Chartered Accountants of India (ICAI) is contemplating prohibiting chartered accountant firms from using identical names, a decision which may have implications for accountancy firms like PwC and Deloitte. "We are considering a proposal to not allow registered firms to..

Individuals aspiring to become insurance agents will have to write the qualifying exam on-line. The insurance regulator IRDA is set to scrap the present system of manual exams for prospective insurance agents to curb malpractices, said a senior official. IRDA’s exam to select insurance agents is condu..

Mukesh Ambani's Reliance Industries Ltd has agreed to a special audit by the comptroller and auditor general (CAG) of its Andhra offshore (KG-D6) contract, but said it hopes this will be a one-off case. In a letter conveying its `no objection' to such an examination by the government's auditor, the company told the oil ..

The investigations in the multi-crore Satyam accounting scam has indicated the role of a prominent stock broker prompting the Central    Bureau of Investigation to se..

The Union ministry of corporate affairs is putting in place an ‘early warning system’ to prevent recurrence of frauds like that of Satyam Computer Services, according to minister Salman Khurshid. "Experts are working on it," he said..

Banks may be allowed to tie up with more than one insurer in the life and general insurance sector with a set of stringent checks and balances. At least, this is what the committee on bancassurance set up by Insurance Regulatory & Development Authority (IRDA..

Interim pension regulator PFRDA is working on a separate fund management guidelines for corporates—a move that will allow them to enter into an agreement with fund manag..

The allegation on the audit profession tendering erroneous advice to banks resulting in huge losses by a constitutional authority such as the Central Vigilance Commissioner (CVC) has stirred up a hornets’ nest among the auditors. The burden of proof apar..

Market regulator SEBI and insurance regulator IRDA are working to come out with a separate set of disclosure norms for insurers wanting to list on stock exchanges. "IRDA and SEBI have working group which is working on these issues as to what kinds o..

The Central Vigilance Commission (CVC) has charged the chartered accounting fraternity with giving erroneous advice to banks resulting in huge losses for the lenders. It has pointed out that in several cases, the advice given by CAs to banks and financia..