CAduniya.com : CA India Blog

New Delhi: Having managed to keep passengers fares in check for the last five years, Railway Minister Lalu Prasad is expected to announce more sops for train travellers when he presents the interim railway budget in Parliament on Friday.Though it is a vote-on-account exercise, sources in the ministry said Lalu is keen to share the benefits of the reduction in Oil prices with passengers.

The railway minister would have got an upper hand over Rail Bhawan bureaucracy if he announces a reduction of 8-10 per cent in AC-III tier and second-class sleeper fares in his last Budget tomorrow. Government officials said the minister was keen on gifting lower fares to the janata in an election year despite resistance within the ministry. While this may be the case, airfares in key sectors had almost dropped to AC-III tier levels a week or 10 days back before bouncing back earlier this week.

Besides lower fares, Lalu Prasad’s populist budget for 2009-10 will include a substantial investment of Rs 12,000 crore for the ambitious East-West freight corridor. It starts from Kolkata and terminates at Mumbai, touching Ludhiana en route. The minister is keen to ensure freight corridors are executed in time to enable faster movement of goods. Given the increase in the number of passenger traffic on existing routes, the railways had favoured faster movement of goods through a dedicated line.

Union Minister for Railways Lalu Prasad has said that the country can once again expect a good Railway Budget. “Despite the recession and increase in fuel prices, Indian Railways have done well. You can once again expect a good Budget,” said Lalu. With General Elections looming, Lalu is expected to announce more sops for the aam aadmi. He may announce some new trains and a cut in the fares. (10.58am IST)

Mumbai (PTI): The Institute of Chartered Accountants of India (ICAI) on Wednesday said that it was considering moving court seeking permission to interrogate scam-hit Satyam Computer’s erstwhile promoters. This was stated by ICAI President Uttam Prakash Agarwal at a press conference here.

The ICAI would also seek court permission to interrogate Satyam’s erstwhile chief financial officer, Agarwal said. B Ramalinga Raju was Chairman of Satyam while Vadlamani Srinivas is the erstwhile CFO of Satyam. The ICAI is a body that regulates chartered accountants’ profession in the country.

The Institute of Chartered Accountants of India (ICAI) is a statutory body established under the Chartered Accountants Act, 1949 for the regulation of the profession of Chartered Accountancy in India. During its nearly six decades of existence, ICAI has achieved recognition as a premier accounting body not only in the country but also globally, for its contribution in the fields of education, professional development, maintenance of high accounting, auditing and ethical standards. ICAI now is the second largest accounting body in the world.

The Curriculum of the Chartered Accountancy Course has been designed, developed and maintained so that the members of the Profession can become the valued Trustees of the World Class Financial Competence, Good Governance and Competitiveness. For details regarding the curriculum, please refer to Annexure 1.

Since December 1949, the Chartered Accountancy Examination is held twice in a year. The Final exam was held in November, 2008 in 190 Examination Centers spread over 106 cities all over India and 3 cities abroad.

Today, the Results of Chartered Accountancy Final exam & Common Proficiency Test (CPT) have been declared. CPT is the entrance level route to Chartered Accountancy stream which every intending candidate has to clear before enrolling for the Professional state.

Source / image credit : ICAI (www.icai.org)

Since the Elections to the Lok Sabha and Legislative Assemblies of some States are likely to be held in the months April and May, 2009, it has been decided to hold the next Chartered Accountants PE-II, PCE, Final (Old and New course), IRM, MAC (Part I), TMC (Part I), CMC (Part I), ITL & WTO Examinations tentatively from 1st to 15th June, 2009 instead of May, 2009. Similarly, the next Common Proficiency Test (CPT) in paper-pencil mode is likely to be held tentatively on Sunday, the 28th June, 2009. The detailed Examination Notification containing the exact date schedule for the various examinations and the examination Centres will be issued shortly

 Feb. 6 (Bloomberg) — Satyam Computer Services Ltd., the Indian software provider at the center of the country’s biggest fraud investigation, rose in Mumbai trading after it named a chief executive officer ending four weeks of leadership vacuum.

Satyam rose 5.5 percent to 49 rupees at 10:01 a.m. local time, the most since Feb. 2. The benchmark Sensitive Index rose 1 percent.

A. S. Murty, a 15-year Satyam veteran, was yesterday named CEO and tasked to help reassure clients, creditors and employees that the Hyderabad-based provider can survive, while the board evaluates bids from Larsen & Toubro Ltd. and other suitors. The company has been run by state-appointed directors since its founder and former chairman Ramalinga Raju said he falsified accounts.

The 50-year-old electrical engineer who oversaw global delivery of the company’s services in his previous role as chief delivery officer may have his task cut out trying to keep customers from joining State Farm Mutual Automobile Insurance Co. in canceling contracts.

“The stock should react positively because one part of the work is over,” Tarun Sisodia, a Mumbai-based analyst at Anand Rathi Financial Services Ltd. said yesterday. “The uncertainty over the company’s future, however, will remain in investors’ minds as long as there isn’t clarity about the financials.”

Satyam said on Jan. 23 that selecting a CEO and finance chief was critical for the company and its investors after the scandal wiped out about 80 percent of market value in less than three weeks.

Source