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
« News Headlines »
 Which ITR form applies to you for financial year 2017-18?
 Income tax returns filing form-2 released; should you use it? Find out
  Are you planning to file ITR 1 form? here's how to do it Income Tax Return (ITR) filing
 30 LPA-Opening Financial Controller
 ITR form 2 in java release by CBDT for return filing by individuals
 How to file your income tax return using ITR Form-1 Income Tax efiling for AY 2018-19
 Income tax returns (ITR) filing: Have you received I-T dept notice? Safeguard yourself; here is how
 Delayed release of electronic ITR forms may compel CBDT to extend the filing deadline
 Trading volume linked to tax return?
 How to e-verify your income tax return? Here are five ways to do it
 Received an Income Tax notice? Here is what you can do

Professional misconduct: FinMin fiat to banks
August, 21st 2012

The Finance Ministry has asked state-owned banks and insurance companies to take up the issue of misconduct by professionals such as advocates and chartered accountants with their regulating bodies such as the ICAI.

The Ministry has issued the directive to heads of public sector banks, financial institutions and insurance companies on an observation made by the Central Vigilance Commission (CVC). Banks and insurance companies should approach the professional bodies with complaints of professional misconduct ...for suitable action, the Ministry said.

The professional bodies mentioned in the communication include, the Bar Council of India, the ICAI, the ICWA and the Institute of Engineers.

The CVC had observed that it has come to light that the professionals empanelled by banksinsurance companies, namely, advocates, engineersvaluers, chartered accountants and surveyors are sometimes involved in unfair practices, including falsedistorted reports which ultimately lead to distressed assets of the banks or unfair claims settled in insurance companies.

While fixing up accountability, the maximum that banks can do is to de-panel such professionals to future assignments.

The Ministry has asked public sector banks, FIs and insurance companies to insert an enabling clause in the tenure of appointment or engagement of professionals.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Binarysoft Technologies - Our Experience

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