Top-ups >
BL
Related Party ?
Family matters
icl
Update
Improving the Ease of Doing Business in India
BS
TG
ICL
Directors’ Actions: For Whose Benefit?
BL
Jun 3
prev.
Apr 9
BS
Quick Comments:
BL
Recent Article in Opinion
Recent Article in Industry
BL
PM’s panel will drive execution of infra projects
Magnificent Obsession >
< previous
BS
A Seemingly Bizarre Episode This >!
Read More
< Debashis Basu: Hiding from rough laws
xcerpts>
< While the provisions of the new Companies Act have been out in the open for discussion for two years, did you see any serious representation by industry associations, chambers of commerce, or business leaders who regularly meet top ministers in different fora? And what about the new powers of Sebi, which, in the past, has shied away from using the powers that it already had? Instead, it preferred to pass "consent orders" to let off various market players under dodgy legal provisions.
People like Mr Maniar, who represent the cream of the Indian corporate sector, have collectively buried their heads in the sand about laws and practices that should affect them directly...... >
< On one of the aspects of SEBI 's powers to pass "consent orders" found a brief mention, for an elucidation / update, attention is invited to the related Blogs and the comments posted @ indiacorplaw.blogspot.com/ ; for instance, refer :
Cross refer >
comments by swami on consent orders of sebi
ET
Cross Refer>
http://www.caclubindia.com/articles/large-tax-payer-unit--1494.asp#.UnSfKLRXuKE
......
Doing Business Rankings 2014: Status Quo for India
BL
Related Party ?
Family matters
There is no justification for a soft approach towards related party transactions despite corporate India's protestations
3 commentsicl
Update
Improving the Ease of Doing Business in India
"Given the various concerns expressed by businesses and investors (both
domestic and foreign)... , this is certainly a welcome move."
If critically perceived, subject to a detailed analytical study leading to a right or better conclusion, there is one thing which, it is strongly felt, ought not to be short sighted. That is, the respective "concerns" of businesses and investors are materially different, and in many respects, mutually conflicting.The same intricacy actually holds good, with equal relevance, also in relation to 'domestic' and 'foreign'.
Seems worthwhile researching on, at the very inception of conceiving, and for suitably structuring, in as well balanced a manner as feasible, such or any other like policy, before gone ahead with and seeking to implement.
If critically perceived, subject to a detailed analytical study leading to a right or better conclusion, there is one thing which, it is strongly felt, ought not to be short sighted. That is, the respective "concerns" of businesses and investors are materially different, and in many respects, mutually conflicting.The same intricacy actually holds good, with equal relevance, also in relation to 'domestic' and 'foreign'.
Seems worthwhile researching on, at the very inception of conceiving, and for suitably structuring, in as well balanced a manner as feasible, such or any other like policy, before gone ahead with and seeking to implement.
BS
When the tax bill is unreasonable
Whether a company pays it and goes to court, or seeks a stay on the demand would depend on the specifics of a situation
One of the catch-22 situations that corporate India faces when a huge tax demand visits them...
<> Going by one's limited know of things, but as a novice, before the introduction of later novelties like MAT, be it a business or professional firm , if professionally managed, was known, almost on a day-to-day basis, to keep a watch on the 'bottom line' first, to take a conscious decision on the 'top line' and the several ones in-between. As regards any other, e.g . taxman, same way as a shareholder, used to have his eyes glued mainly to the bottom line ; and as such, used to be least bothered as to how those are reflected or disclosed in the Balance Sheet. Again , going by the same limited knowledge, may be outdated now, with such changes as MAT, the old practice could have changed.
Be that as it is inevitable, if one is not mistaken, there used to be a confusion on, - had a demand notice been served, litigable or litigated, or not, - as to whether or not it should be, in the books and final accounts, disclosed as a liability certain, not 'provision' for a contingent liability ; and only in the event of and depending on the final outcome, treatment and manner of disclosure need to accordingly require a revision. According to a view, any outstanding demand as at the year end, even in dispute, will, therefore, require to be appropriately shown as, not under ' contingent liability' but as current liability; and had it been paid, shown as 'contingent asset' having regard to the possibility of it being refunded in case of final success in appeal.
Incidentally, the intriguing part , as noted by a layperson with a pinch of salt, is the bottom line- claiming, that "the views are personal". It is unclear why the need to specifically saying so; as , could, after all, it be any different even otherwise.
TG
ICL
Directors’ Actions: For Whose Benefit?
BL
Jun 3
Macro Economy
Every registered business in India has 127 ‘shadows’
A UK study puts India’s shadow economy at No.2, behind Indonesia’s
India has emerged as a country with some of the highest number of unregistered businesses in the...
»prev.
Apr 9
BS
Now, GMR's Philippine project flies into trouble |
The company faces a petition in Philippine's Supreme Court to scrap the deal
|
Quick Comments:
1. It is not uncommon knowledge that, among others, in
recent times, concerns over dubious and unhealthy practices harmful to any
nation's economy has been catching up /taking over in an alarmingly increasing
pace, -such as 'insider trading', 'under-cutting','majority x minority
interests', 'controlling interest'. and the like. In fact, "conflict of
interest" in issue herein, is, in a manner of speaking, no different from
the other closely related concept, - "related party transactions".
2. "The
Philippine airport is crucial for GMR that has loaded itself with debt to fund
its foreign expansion.' - Does this cryptic observation, by any chance, carry a
hidden message, bringing to a sharp focus the question ability of wisdom or otherwise of the company 'loading
itself with debt',- that is, same as the impudence/imprudence underlining the
old saying - "counting chickens before hatched". May be, the
surrounding details could throw up factual clarity to the restive stakeholders !
| < Now, GMR's Philippine project flies into trouble |
| The company faces a petition in Philippine's Supreme Court to scrap the deal Read More » |
BL
Recent Article in Opinion
Missing: innovation@india.inc
India Inc sticks to low hanging fruit — aping the West’s goods and
capitalising on cheap labour. The financial mechanism of wealth
generation through innovation is not well understood in India. »
Recent Article in Industry
BL
PM’s panel will drive execution of infra projects
Magnificent Obsession >
How Economic Growth Has Become Anti-Life
An obsession with growth has eclipsed our concern for sustainability, justice and human dignity. But people are not disposable – the value of life lies outside economic development
Limitless growth is the fantasy of economists, businesses
and politicians. It is seen as a measure of progress. As a result, gross
domestic product (GDP), which is supposed to measure the wealth of
nations, has emerged as both the most powerful number and dominant concept in
our times. However, economic growth hides the poverty it creates through the
destruction of nature, which in turn leads to communities lacking the capacity
to provide for them.
When every aspect of life is
commercialised and commoditised, living becomes more costly, and people become
poorer.
by Vandana Shiva
<><> Opinion
Alternative growth estimates put
out by the government show that the dip has been alarming. »
"RBI, inflation, GDP growth, monetary policy,
public-private partnership, monetary tightening, organised commercial sector,
incremental capital output ratio, fiscal deficit"
Should one go by the sheer number of the Key Words
impressively listed, the instant tendency is to believe that , in comparison,
the write-up may be worth giving it a second reading, let alone a serious
thought. But a moment's painful reflection leaves one with a different
impression; for, most of these are realized to be nonetheless the same as often picked up before, except
that every time underlining and laying
emphasis happen to be on one or more each
of the ideas, not all, sought to be covered.
Be that as could have been normally expected, certainly
there is one thing which has yet again been glossed over, with no attempt
giving a second thought , much less an incisive deliberation or introspection whatsoever. That has something
to do with the totally distinct but prima facie ideal school of thought,
According to the initiator thereof, what has been unwisely but deliberately avoided
to be explored is, this:- is it not , in the ultimate analysis, a reality that
the so called “economic growth”, mostly
aspired for and increasingly pursued, in
any form and substance of its kind, as a
magnificent obsession, has become ‘anti-life’. The message as intelligently conveyed: "An
obsession with growth has eclipsed our concern for sustainability, justice and
human dignity. But people are not disposable – the value of life lies outside
economic development."
For a true appreciation of the soulful wisdom behind
the referred thought, but in its original flavour, recommended to read the
article keyed-in by the renowned philosopher cum writer, Dr. Vandama
Shiva, - How Economic Growth Has Become
Anti-Life.
Alternative growth estimates put
out by the government show that the dip has been alarming. » < previous
BS
A Seemingly Bizarre Episode This >!
Read More
Subir Gokarn: An evolving multilateralism
The value of institutions is not in what they think is right but in what they know is wrong
More Columns
< Debashis Basu: Hiding from rough laws
xcerpts>
< While the provisions of the new Companies Act have been out in the open for discussion for two years, did you see any serious representation by industry associations, chambers of commerce, or business leaders who regularly meet top ministers in different fora? And what about the new powers of Sebi, which, in the past, has shied away from using the powers that it already had? Instead, it preferred to pass "consent orders" to let off various market players under dodgy legal provisions.
People like Mr Maniar, who represent the cream of the Indian corporate sector, have collectively buried their heads in the sand about laws and practices that should affect them directly...... >
< On one of the aspects of SEBI 's powers to pass "consent orders" found a brief mention, for an elucidation / update, attention is invited to the related Blogs and the comments posted @ indiacorplaw.blogspot.com/ ; for instance, refer :
Ambiguity regarding Consent Settlements - whether resolved?
Cross refer >
comments by swami on consent orders of sebi
Oct 12,
2012 ... It questions the perceived sanctity and finality of consent
orders and whether ....
Sep 6, 2013
... Amongst the orders
Mar 27,
2013 ... SEBI's recent interim Order and findings in Zenith's case again
present ....
Sep 10,
2013 ... In a previous post, we
|
Sep 13,
2013... to be promulgated by the Central Government in order to
make them operational. ...
|
|
Sep 20,
2013... for MSMEs and an appellate process for persons aggrieved by an
order of rejection. ...
|
|
Mar 21,
2013 ... An informal guidance cannot be construed as an order of SEBI
and is not appealable before the Securities Appellate Tribunal under section ...
|
1
2
3
< On Screening/'moderation'-
Comment posted y'day is noted to be still withheld in the
name of 'moderation'. It appears that the well-intended brief comment was meant
to serve as a useful feedback, on the need for/implying as to why any such write-up, especially on a topic of this kind,
in order to be profoundly useful and be of some guidance, as expected of by the
common readers, -instead of being so harsh verging on a personal affront or
confrontation, hence desirably to be eschewed, -must not be confined to
'one-track' or an in-box sort, but be more comprehensive and multidimensional
one.
 |
|
ET
IBM India to move court against IT department's Rs 5357 crore tax notice
Cross Refer>
http://www.caclubindia.com/articles/large-tax-payer-unit--1494.asp#.UnSfKLRXuKE
......
Doing Business Rankings 2014: Status Quo for India
The Doing Business Rankings 2014 have just
been published by the World Bank and IFC. Nothing much has changed in the case
of India. It has dropped three places from 131 to 134 out of a total of 189
countries. While the entire report is available here, India’s country report is available here
Imponderable : At the end of the day (or year or decade(S)) , - What 'useful' social purpose, be it in the national or international arena, it is truly hoped or expected to serve ??????
No comments:
Post a Comment