The government has amended the norms whereby contributions by corporates to the PM CARES Fund will qualify as CSR spending under the companies law
Coronavirus Outbreak: Ex-gratia payments to temporary workers, donations to PM-CARES FUND to be CSR spending, says govt
"If any ex-gratia payment is made to temporary/ casual workers/ daily wage workers over and above the disbursement of wages, specifically for the purpose of fighting COVID 19, the same shall be admissible towards CSR expenditure as a one-time exception," the corporate affairs ministry said.
While the chartered accountants' institute would be contributing Rs 21 crore, the company secretaries'' institute would donate Rs 5.25 crore.
Govt directs PSUs to enforce work from home for half of their non-executive staff; order to remain effective till 4 April
To avoid crowding in heir respective offices, plants, units, etc, all heads of PSUs have been asked to draft a weekly roster keeping in view their work/production exigencies for the non-executive staff.
The government on Thursday allowed companies to conduct board meetings through video conference and other audio visual means till 30 June, as part of precautionary measures to curb the spreading of coronavirus infections
The Serious Fraud Investigation Office (SFIO) has arrested at least three individuals in connection with alleged accounting fraud worth Rs 6,500 crore at Rotomac group of companies and Frost International Ltd, according to official sources
ICAI to issue advisory on dealing with coronavirus impact on auditing work; document for corporates, auditors to be released before 31
It will be an advisory for auditors and companies on how to deal with the impact of the coronavirus outbreak
Under the companies law, certain classes of companies have to shell out at least two percent of the average net profits, made during the three immediately preceding financial years, towards Corporate Social Responsibility (CSR) activities.
Deloitte stops non-audit services to public interest entities in India; says move to increase people's confidence in auditor independence
In a statement, Deloitte said this voluntary action is in the spirit of self-regulation and extends beyond non-audit services permissible under prevailing rules and regulations in India.
Govt to reduce time taken for starting business; to introduce integrated electronic form from 15 February
Currently, the ministry has the electronic form SPICe (Simplified Proforma for Incorporating Company Electronically) and that would be replaced with SPICe+.
Infosys on Friday said it has not received any request from SEBI for conducting further investigation in the whistleblower case where top executives were accused of rigging the company's balance sheet
Infosys whistleblower case: SEBI may call for forensic audit on allegations of financial irregularities in IT major
In October last year, Infosys had informed the stock exchanges of having received anonymous whistleblowers' complaints alleging certain unethical practices by the top management.
Relief for Gautam Thapar: NCLT terms Vaish report on CG Power as 'bogus', says it will rely on independent or govt agency report
CG Power's board sacked Thapar after Vaish Associates' audit report, which itself is based on as many as 23 disclaimers, claimed that Thapar swindled Rs 3,000 crore from CG Power
Over 14,000 prosecutions withdrawn under Companies Act, says centre; undertook various steps to improve ease of doing business
India has improved its ranking on the World Bank's 'Doing Business 2020' report, moving up 14 positions to the 63rd spot.
The government on Friday notified rules under the insolvency law to deal with the resolution of financial service providers, excluding banks
IndiGo CEO says co-founders' feud has 'zero impact' on company; promoters on same page over airline's strategic direction
Amid ongoing feud between the airline's promoters, IndiGo CEO Ronojoy Dutta on Thursday said there is "zero impact" on the carrier right now as they are on the same page over the airline's strategic direction
Personal insolvency regime to be fully operational in a year; non-adjudicatory process being worked out: Injeti Srinivas
The corporate affairs ministry will be implementing the personal insolvency regime in phases.
According to the ministry, the initiatives have been taken in response to requests from innovative technology companies and startups.
InterGlobe Aviation, the parent of the country's largest airline IndiGo, has submitted its responses to the watchdog on the issues raised by co-promoter Rakesh Gangwal in his complaint
IndiGo promoters' dispute impact: Board decides to increase strength to 10; to have 4 independent directors
The decision, taken during the company's board meeting on 20 July, comes against the backdrop of feud between co-promoters of IndiGo