Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
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) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: ACCOUNTING STANDARDS :: list of goods taxed at 4% :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT Audit :: cpt :: Central Excise rule to resale the machines to a new company :: TAX RATES - GOODS TAXABLE @ 4% :: VAT RATES :: articles on VAT and GST in India :: ACCOUNTING STANDARD :: empanelment :: due date for vat payment :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: TDS :: form 3cd
 
 
« News Headlines »
 How to save income tax? Here are 6 investments with tax free income
 10 Top salary deductions that can save tax for you
 What are the tax saving options beyond Section 80C?
 The penalties for not paying tax on time
 How to make your salary tax efficient
 I-T Department may go into overdrive this quarter
 Ways to reduce the TDS deduction from your salary
 4 Tips for choosing who prepares your 2017 Tax Returns
 Processing of income-tax returns under section 143(1) of the Income-tax Act which were filed in Forms ITR-1 to 6 & applicability of section 143(1)(a)(vi)
 Price Waterhouse gets 2-year ban in Satyam case
 How to save income tax under section 80C

Government seizes Satyams documents
January, 10th 2009

Union Minister of Corporate Affairs Prem Chand Gupta on Friday said a team of government officials probing the Rs.7,800-crore fraud in Satyam accounts had seized documents from the premises of the IT major and its records office in Hyderabad.

The procedure of seizure was on till five in the morning [Friday], Mr. Gupta told journalists here. The government, he said, has also sent an eight-member team to Hyderabad to inspect the accounts of Satyams eight subsidiary companies.

This followed the former Chairman B. Ramalinga Rajus confession on having doctored the parent companys accounts to present an inflated profit and performance picture.

Among the subsidiaries being investigated, as directed by the Ministry of Corporate Affairs (MCA), are Maytas Properties and Maytas Infrastructure.

The Ministry has asked the Hyderabad-based Registrar of Companies (RoC) to probe Satyams affairs while market regulator SEBI has also ordered an investigation.

After obtaining a judicial order from the magistrate in Hyderabad, the Registrar of Companies, in coordination with market regulator SEBI, went to the office of Satyam and seized the documents from its premises and the record office of the companyThe eight officers, who have been sent to Hyderabad, will be called inspectors on behalf of the government. They will carry out inspection under [section] 209A of the Companies Act, Mr. Gupta said.

Apart from Maytas Properties and Maytas Infrastructure, the other subsidiaries of Satyam under the scanner are Satyam BPO, Nipuna Services, Knowledge Dynamics, Nitor Global Solutions, CA Satyam ASP and Satyam Venture Engineering Services.

Mr. Gupta said the government was committed to protecting the interests of 53,000 employees, three lakh shareholders and Satyams clients.

We are concerned about all of them. Whatever is the best under the law, we will do, he said.

The chartered accountants apex body ICAI has decided to serve a show-cause notice on PricewaterhouseCoopers (PwC) by Saturday and ask for a report on the auditing done by it for the IT major within 15 days.

Show-cause notice

Our disciplinary committee will serve a show-cause notice to PwCand will ask them to submit a report within 15 days on all the auditing done by them on Satyam Computer Services accounts, ICAI president Ved Jain said here.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Software Development Software Programming Software Engineering Custom Software Development Requirement Based Software Development Software Solutions Software Serv

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