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Merger: E&Y to carry out harmonisation of capital norms of PNB, UBI, OBC

"PNB, the anchor bank, has appointed E&Y as advisor for harmonisation of capital norms, precisely net worth of the three banks as on March 31, 2020," United Bank of India's MD and CEO Ashok Pradhan said. At present, the consulting firm is looking at the balance sheets of the three banks and their audited reports of the second quarter of the current financial year, he added.

CBRE, JLL appointed as consultants for asset monetisation of BEML

The Centre is likely to sell 28 per cent stake in BEML Ltd through strategic disinvestment and retain 26 per cent after the dilution of its shareholding in the public sector undertaking.

ICSI to open 10 international offices next year

With more company secretaries moving to various countries, there was need for more International offices abroad, ICSI president Ranjeet Pandey told reporters.

Cyril Amarchand hires Varun Sehgal from SAM & Co for its Japan Desk

“We are pleased to have Varun join our firm. He will be a great addition to our general corporate practice,” said Cyril Shroff, managing partner of CAM in a statement. Cyril Amarchand Mangaldas is the biggest full-service law firm in India, with over 750 lawyers including over 130 partners.

Big 4 audit companies scramble for forensic assignments of scam-hit corporates

Players see up to 25% growth in forensic business in past 3 years even as strict regulatory action hits audit operations.

Audit partners seek risk premium, more salary

They are seeking risk premium in the form of hikes and special bonuses, following actions Sebi and others.

Indiabulls Realty’s western region legal head joins boutique law firm RGM Legal

RGM Legal focuses mainly on structuring, corporate M&A, PE, venture capital and Fintech space and with Shah joining the firm, it will have real estate transaction and dispute resolution practice to cover commercial disputes, insolvency & bankruptcy (IBC) and arbitration amongst other things.

Netrika Consulting acquires Anti-Piracy Solutions

Sanjay Kaushik, managing director of Netrika Consulting, told that his company has a dominant presence in on-ground security and antifraud solutions and the acquisition has brought in online capabilities.

Cyril Amarchand Mangaldas acquires M&E Practice of Ashni Parekh

"The acquisition of Ashni's Practice is in keeping with the firm's focus on scaling its technology, media and entertainment practice into a market leading practice. We are also delighted to welcome Ashni Parekh to the firm," Managing Partner of Law firm Cyril Amarchand Mangaldas Cyril Shroff said in a statement. Ashni Parekh is a media and entertainment lawyer.

Audit firms eye global tie-ups to upgrade skills, build bandwidth

The primary reason, for global tie-ups, being cited is the growing complexity in audit business.

Cargill appoints Sumit Gupta as India leader for Cargill Business Services

Cargill appoints Sumit Gupta as India leader for Cargill Business Services

“As the largest shared services centre for Cargill, India brings in unique value to our enterprises and functions. Under Sumit’s leadership, we hope to continue the stride in enabling our teams to deliver high quality services and build their careers with the company,” said Kim Skanson, president and global leader for Cargill Business Services.

ICAI sign MoU with Kuwait auditors and accountants association

ICAI sign MoU with Kuwait auditors and accountants association

Prafulla Chhajed, President of the ICAI said " “India and Kuwait share a cordial relationship, strengthened and nurtured with historical trade links, cultural affinities and presence of large number of Indian nationals in Kuwait" adding that there was a need to promote Kuwait-India business partnerships when signing the MoU.

Law firms are laughing all the way to the bank amid swelling IBC, GST cases

Law firms are laughing all the way to the bank amid swelling IBC, GST cases

There's no slowdown for lawyers: In just the past two years, the legal sector's fee income has jumped by 62%.

Satyam case: SC restores Sebi's power to restrain erring auditing firms

Satyam case: SC restores Sebi's power to restrain erring auditing firms

The Supreme Court on Monday stayed a direction in the order of Securities Appellate Tribunal (SAT), which stopped market watchdog Sebi, from barring the auditors from auditing listed companies. In January 2018, the Securities and Exchange Board of India slapped a two-year ban on Pricewaterhouse (PwC), an arm of PricewaterhouseCoopers India, from auditing any listed company for its role in the Rs 7,800 crore Satyam scam. The SAT, however, quashed the two-year ban.

SC stays SAT's order holding that Sebi lacks power to bar auditors

SC stays SAT's order holding that Sebi lacks power to bar auditors

The SAT, in its order which set aside the ban on audit firm Price Waterhouse (PwC), had noted that SEBI does not have the power to bar auditors. Earlier, the SEBI had challenged SAT's decision to quash a two-year ban that was imposed on PwC in connection with the Rs 7,800 crore Satyam fraud.

EY partners with cos for client solutions

EY partners with cos for client solutions

Tom Velema, EY’s alliances leader for EMEIA, who was in India recently, told ET that the shift in strategy had been initiated almost a decade ago but got a sharper focus only in the last few years. “This is an ecosystem play we adopted, which started with a global partnership with SAP. This is also a reflection of the market and embracing the drive to digital,” Velema said.

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