Latest Expert Exchange Queries
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Service Tax | Sales Tax | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Indirect Tax | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: due date for vat payment :: TAX RATES - GOODS TAXABLE @ 4% :: VAT Audit :: Central Excise rule to resale the machines to a new company :: ARTICLES ON INPUT TAX CREDIT IN VAT :: empanelment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: cpt :: TDS :: VAT RATES :: form 3cd :: list of goods taxed at 4% :: articles on VAT and GST in India :: ACCOUNTING STANDARD
 
 
« News Headlines »
 GST dilemma: Hope fades for new tax regime
 5nance.com launches tax investment platform
 Is government tapping your phone?
 Income tax department to use analytics to look for discrepancies in bank accounts
 GST Council fails to break deadlock over indirect tax regime, next meet on Dec 11 and 12 to hammer out differences
 Invoking Writ Jurisdiction For Income Tax Matters
 How to file income-tax returns online
 How Income Tax Returns Are Scrutinised
 All About New Income Disclosure Scheme to make Demonetisation successful
 Your deposit may draw income tax notice
 Accepting payment under IDS 2016

CAG criticises MCA for poor co-ordination with Sebi, RBI
December, 28th 2006

Comptroller and auditor general has slammed the ministry of company affairs (MCA) for non-coordination with other regulators like Sebi and RBI. No institutional mechanism for coordination of activities and information with data of statutory bodies such as Sebi and RBI was in place, CAG said in its report for the year ended March 2005.

Citing an example, the country's top auditor said 303 companies were found working as NBFCs in Shillong, Orissa and Rajasthan without being registered with RBI. Further, CAG said as per the data provided by registrar of companies, Delhi, 1274 non-banking companies were registered with it as on January 2006 even as data provided by RBI indicated that 2438 such companies were at work, it said.

Thus, ROC had failed to identify the companies which were working as NBFCs without registration with RBI and the foreign companies though registered with RBI were not registered with ROC, Delhi, it noted.In its reply, the ministry admitted that there was need for improved co-ordination.Cag also noted there was non-realisation of fee amounting Rs seven crore from 1,400 foreign companies which defaulted in filing statutory papers on time.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2016 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Publishing Management System PMS News Management System Publishing Management System Development Online News Management System for media company custom Publishing management system development Survey management system Market Res

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions