ACCOUNTING STANDARDS
Accounting treatment: ICAI mulls disclosure norms
THE Institute of Chartered Accountants of India (ICAI) may soon enhance the responsibilities of its members through better disclosure. Chartered accountants in practice may be required to disclose in their report the divergence, if any, ... More

OVERSEAS BORROWINGS
Jubilant Org to raise $55 m to fund European acquisitions
THE over Rs 700-crore Jubilant Organosys is in the process of raising $55 million (about Rs 23,650 crore) for acquiring two pharmaceutical companies in Europe. One of the companies has a large number of formulations to its credit with approved ... More

COURTS/LEGAL ISSUES
Does `business' include job-work?
"BESTOW your needful counsel to our business," is a Shakespeare quote from King Lear. More recently, the apex court had to bestow its counsel to the definition of `business' in Vishwanath Jhunjhunwala vs State of Uttar Pradesh. First, ... More

ACCOUNTANCY
Accountants are no magicians
WHO says accountants can't be funny? A recent posting on the AccountingWeb is about some of the `funniest tax tales' from certified public accountants (CPAs) in Texas. Here is a doggy story to start with: A couple came to the ... More

FOREIGN TRADE
Enlargement of EU will create more trade offers: FICCI study
ENLARGEMENT of the European Union (EU) would provide an expanded market with a population of more than 455 million and a GDP of around 10 trillion euros and would offer immense trade creation opportunities for India, says a preliminary Federation ... More

HUMAN RESOURCES
Mindspace keen on talent search in non-metros
THE Chennai-based Mindspace Consulting Services is gung-ho about the talent available in small towns and is working toward making this talent pool industry savvy. "Jobs are aplenty but the companies are conservative. They do not want to go to ... More

RESTRUCTURING

MERGERS & ACQUISITIONS
ICICI Bank, IDBI close to selling SWIL stake
ICICI Bank, IDBI along with other institutions, which took over the management of the copper smelting project of SWIL Ltd more than two years ago, are moving closer to selling their over 50 per cent stake in the company to a prospective investor. ... More

SICK UNITS
BIFR okays show-cause notice to wind up Andhra Cements
ANDHRA Cements Ltd (ACL), a part of the Kolkata-based Duncan Goenka Group, seems to have exhausted all the lifelines offered to it for revival. The Board for Industrial and Financial Reconstruction (BIFR) has given its nod to the show-cause ... More

OUTLOOK
Rise in domestic, export demand — PSL likely to continue strong topline growth
PSL Ltd, which is expected to double its turnover for the year ended March 2004, is likely to continue a robust topline growth on the back of a surge in domestic and export demand for steel pipes for oil, gas and water. The company has been ... More