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
Latest Expert Exchange
« ICAI »
 Summary of the Notification dated 2nd November,2018 regarding Provisions of The Companies (Amendment) Ordinance 2018
 7 Days' Residential Programme on Professional Skills Development on 16th to 22nd December at Hyderabad
 Conduct of CA Examination scheduled on 12th November 2018
 Apply for 12th ICAI Leaders & Business Excellence Awards being organised by Committee for Members in Industry & Business (CMI&B) by 15th December 2018
 Request to give suggestions on certain provisions of the Companies Act 2013 as per notice issued by MCA by 16th November 2018.
 Committee for Capacity Building Members in Practice, ICAI: Commencement of the first batch of the Certificate Course on Preparation of Appeals, Drafting of Deed & Documents and Representation before Appellate Authorities and Statutory Bodies at Mysore.
 Information System Audit - Assessment Test (ISA - AT), December 2018.
 Observations of the Candidates on the Question Papers of CA Examinations - November 2018
 ICAI-President's Message - November 2018
 Announcement for next examination of Certificate course on Forex & Treasury Management
  Technical Guide on the functioning of Audit Committee and its Review Checklist as issued by the CL&CGC of ICAI

Govt bailout possible, says Kamal Nath
January, 13th 2009

Indias government held out the possibility of bailing out Satyam Computer Services Ltd, even as the new board underlined its plans to put the firm back on track.

Meanwhile, former chairman B. Ramalinga Raju sought to take the entire blame for the countrys biggest corporate fraud onto himself and his brother and the companys former managing director Rama Raju; and the companys former chief financial officer (CFO) Srinivas
Vadlamani sought to blame everyone but himself for the accounting and financial irregularities at the company.

On Monday, Indias apex body of accountants and audit firms, the Institute of Chartered Accountants of India (ICAI) said it would set up a committee to investigate the role of Satyams auditor, Price Waterhouse, an arm of audit and consulting firm PricewaterhouseCoopers.
One of the new directors appointed by the firm, Deepak Parekh, chairman of mortgage firm Housing Development Finance Corp. Ltd, said, Only a restatement of accounts will show if the receivables have been overstated or if the debts have been understated.
Also Read CFO Srinivas Vadlamanis confession Another, C. Achuthan, a lawyer who has served as the head of the tribunal that hears appeals against market regulator Securities and Exchange Board of India (Sebi), said the board is also aggressively looking for a chief executive and CFO for Satyam.

Kiran Karnik, the former head of software industrys lobby group Nasscom, is the third director appointed by the government, which dissolved the companys board on Friday, two days after Raju wrote in a confessional letter that he had fudged the companys accounts to the tune of at least Rs7,136 crore.

Parekh said the government would soon appoint more directors after which the board would pick a chairman. He said it was the prerogative of shareholders to change the audit firm and that this could only be decided at a larger shareholder meeting.
Meanwhile, commerce and industry minister Kamal Nath said that since Satyam Computer Services needs money, the government could consider extending help. The government, he added, would consider all aspects of helping the crisis-ridden company because it was a question of saving jobs and an international Indian brand.

The new board also sought an extension in announcing the financial results of the company for the three months ended 31 December because it could take some time to restate the accounts.

One of Satyams peers and rivals, Infosys Technologies Ltd, will announce its results for the quarter on Tuesday.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Web Application Development Web based Software Solution Web Application Deployment Web Application Solutions Web Application Software Development Web Application Deployment Web Application Programming Web Application Design and Development

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