IL&FS case: Auditors have many questions to answer, says Corporate Affairs Secretary
Crisis-hit IL&FS group's debt burden is estimated to be more than Rs 94,000 crore and various entities
- Vodafone Idea promoters contribute Rs 17,920 crore to rights issue following over-subscription
- Private power transmission companies move CCI, regulator against power grid pricing
- Govt set to provide financial assistance to minority investors for class action lawsuits
- NSE co-location case: Sebi partially relaxes order against OPG Securities, 3 directors
- Chief economic advisor included in finance commission's advisory council
- Jaypee panel to take up NBCC offer on Thursday
- NSE to review data sharing 3rd party pacts since 2009
- Rolta gets out of bankruptcy as NCLT dismisses UBI plea
Institution of Independent Directors Is Not Failing: Former SEBI Boss UK Sinha
Former Sebi Chief and Senior Advisor Cyril Amarchand Mangaldas, UK Sinha comes in strong defense of the institution of the independent directors. He says the experiment of independent directors is now gaining strength, thanks to Kotak Committee recommendations, and latest judicial pronouncements holding such category of directors personally accountable. He also expresses his concern towards the recent exodus of independent directors seen in the companies like Jet Airways, DHFL, Yes Bank etc.
Govt sees little scope for Jet Airways revival: Sources
Parties that had initially expressed interest in Jet, which is saddled with roughly $1.2 billion of debt, have so far failed to make firm bids to bail it out, increasing the odds that it could soon face bankruptcy proceedings.
Infibeam fires auditor, claims leak of price-sensitive info
On Sunday afternoon, after Infibeam issued a statement removing SRBC as its joint statutory auditor with an accusation of passing on unpublished price sensitive information (UPSI), the audit firm denied any wrong doing in the matter and said it was open to a third-party audit.
Regulators have to be accountable to Parliament: Former SEBI Boss UK Sinha
Former Sebi Chief and Senior Advisor Cyril Amarchand Mangaldas, UK Sinha, says regulators in the country cannot be completely independent and therefore they have to be accountable to Parliament. He also says that existing corporate governance regulations are not overbearing or not too many.
Bar council asks Big 4 not to offer legal services
KPMG and Deloitte have filed their reply to the notice, while EY and PWC have sought six weeks and four weeks, respectively.
SFIO arrests Bhushan Steel’s former CFO Nitin Johri on charges of financial fraud
Fraud watchdog found Bhushan Steel to have engaged in manipulation of financials to avail loans from banks.
The Transformative Age is here. But will you be able to survive it?
A bifocal approach towards the risk may help us not only survive it but also come out a winner.
-
Sounding the debt knell
There are only two modes of business funding: debt and equity. Debt could however be a silent killer.
-
Digital CFO: The new age trapeze artist, managing the balancing act
Digital CFO has to judiciously marry the new world challenges with stability provided by mature and time-tested processes. Also, simultaneously adopt the new regulatory challenges.
-
Budget 2019: Populist tone, but prudent thoughts
Looking at the relief measures and the costs associated, the government, at the end of the day, seems to have addressed the challenges facing the economy quite well
-
In 2019: Can we expect a better governed Corporate World?
Companies after companies have been treating good governance as something which is to be written on paper, and not to be practiced.
-
What CFOs can take forward from 2018 and what they should focus in 2019
CFOs, while they commit investments for growth this year, will have to think about mitigating the risk of volatility as it is the election year.
Payment service will be launched only after complying with RBI norms: WhatsApp to SC
A bench of Justices was hearing a plea filed by an NGO, CASC, which has claimed that WhatsApp has not fully complied with RBI's circular which prescribed data localisation norms.
-
Inflation forecasts not accurate at times of low food inflation: RBI study
In most other periods, forecasts have remained almost close to actual, and in line with the trend in the forecast of other central banks, according to an RBI study.
-
Over Rs 9.5K cr can be recovered from Amrapali Group, Forensic auditors inform SC
Of the money diverted as much as Rs 455 crore can be recovered from persons including directors of the realty firm, their family members and individuals holding hey managerial position.
-
RCom: Lenders face steep haircut
Banks have decided to shortlist a resolution professional from a field of 15 players after NCLAT allowed resumption of insolvency resolution action against RCom. In addition, other issues on loans related to the flamboyant businessman’s failed telecom ventures are expected to be taken up by banks, including some of the Chinese lenders who have an exposure.
-
Stan Life to sell 1.8% in HDFC Life
After this sale, it will hold 22.9% in HDFC Life while mortgage finance major HDFC will continue to hold 51.5%.
-
Wipro seeks shareholders' nod for Rs 10,500-cr share buyback plan
In a BSE filing, the company said it is seeking shareholders' approval for buying back up to 32,30,76,923 fully paid-up equity shares of Rs 2 each, representing up to 5.35 percent of the total paid-up equity share capital of the company, at a price of Rs 325 per scrip, for an aggregate amount of up to Rs 10,500 cr.
-
GST, Cos Act boost demand for CAs
“New reforms in taxation and continuous changes in the Companies Act and rules have prompted enterprises to take a systematic approach to compliance, resulting in increased demand for CAs,” CIEL HR Services director & CEO Aditya Narayan Mishra said.
-
ICAI releases e-version of compendium of revised Indian Accounting Standards
The e-version of compendium of Ind AS includes amendments that were made in Companies (Indian Accounting Standards) Amendment Rules and became effective on April 1.
-
Repo rate cut transmission yet to happen: Finance Ministry Report
Foreign Exchange Reserves in terms of months of import cover have fallen from 14 months from April 2016 to 9 months in October 2018.
Subscribe To ETCFO Newsletter
15000+ Industry Leaders read it everyday
- 1VendorTalk: CFOs in the age of Big Data, Artificial Intelligence
- 2Vendor Talk: Reimagining the digital experience for digital banking
- 3Vendor Talk: Will the GST regime adopt blockchain technology?
- 4Why Indian public sector banks need holistic risk management in today’s digital era
- 5The risk of poor employee background checks in India
- 6Vendor Talk: GST and the future of tax technology
Former Sebi Chief and Senior Advisor Cyril Amarchand Mangaldas, UK Sinha comes in strong defense of the institution of the independent directors. He says the experiment of independent directors is now gaining strength, thanks to Kotak Committee recommendations, and latest judicial pronouncements holding such category of directors personally accountable. He also expresses his concern towards the recent exodus of independent directors seen in the companies like Jet Airways, DHFL, Yes Bank etc.
