chandni241

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ROLE OF NATIONAL FINANCIAL REPORTING AUTHORITY

“Union Cabinet has now approved the proposal for establishing the National Financial Reporting Authority (NFRA), intended to serve as an independent regulator for the auditing profession. We believe establishment of NFRA as an independent regulator for the auditing profession will improve the transparency and reliability of financial information presented by listed and unlisted companies in […]

IBC-NEW AMENDMENTS STRENGTHNING THE SPIRIT OF THE LAW

The Cabinet has approved a promulgation of an ordinance to amend the 16-month-old Insolvency and Bankruptcy Code (IBC). The present amendment is based on recommendations of a 14-member government appointed committee that had last month suggested a slew of measures, including addressing difficulties of home buyers and making recoveries easier for lenders plus disqualifying certain […]

RISING EXITS OF INDEPENDENT DIRECTORS A CRITICAL CORPORATE GOVERNANCE MATTER

In recent times, resignation of Independent Directors from Company Boards have become a trend. In most cases, without providing a clear explanation. In cases where an explanation has been provided, the main reasons behind such resignations stem from poor corporate governance and a lack of transparency in board matters. Even when the authorities tightened up […]

RBI COMMITTEE RECOMMENDS CORPORATE OWNERSHIP OF PRIVATE SECTOR BANKS IN INDIA-RISKS FAR OUTWEIGH BENEFITS

“Large corporate/industrial houses may be permitted to promote banks only after necessary amendments to the Banking Regulation Act, 1949” — IWG Report on Corporate Ownership of Private Sector Banks. On November 20, the RBI released the Internal Working Group (IWG) report that reviewed the existing licensing and regulatory guidelines relating to ownership, control, and corporate […]

GLOBAL TAX REGIME-UNPRECEDENTED AGREEMENT BETWEEN MAJOR ECONOMIES

In an unprecedented agreement amongst industrialised nations of G7, an overhaul of global corporate tax regime has been initiated. The major overhaul is directed towards checking tax avoidance and jurisdictional arbitrage exploited by the world’s largest entities. Major economies are aiming to discourage multinationals from shifting profits — and tax revenues — to low tax […]
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KNOWING ALL ABOUT ACCOUNT AGGREGATOR NETWORK

The Finance Ministry last week unveiled the Account Aggregator (AA) network in banking with eight of India’s largest banks. An Account Aggregator Network is a financial data – sharing system. The network will revolutionize the investment and credit markets, and shall give millions of customers greater access and control over their financial records and expanding the potential pool […]

ESG – REDEFINING A NEW ERA OF INVESTMENT

ESG Investments have attracted wider attention from both investors and customers worldwide. These kinds of investments largely follow a triple – bottom – line approach that combines financial returns with environmental and social norms. Investment decision – making processes and investment analyses are increasingly emphasizing the sustainability of investments and adherence to environmental, social and […]
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TAXABILITY OF VIRTUAL DIGITAL ASSETS – AN OVERVIEW

Introduction Virtual Digital Assets, especially cryptocurrencies & Non – Fungible Tokens (NFTs), have gained tremendous popularity in recent times and the volumes of cryptocurrency trading has increased substantially. To bring clarity on such asset classes, the government has proposed to define virtual assets, provided for taxation rules on such assets, viz., taxes on income arising […]