Circular trade
This query is : Resolved
08 February 2011
Dear Friends,
I want to know about circular trade in Shares/MCX/ NCDEX and Why it is treated as fraud?
What are the steps which we can take as an Auditor?
I want to know about circular trade in Shares/MCX/ NCDEX and Why it is treated as fraud?
What are the steps which we can take as an Auditor?
12 February 2011
A trade which is taking place in a closed group or cartel is known as circular trade.
This is done by interested traders to create false impression about the prices and trading quantity.
As an auditor as such we can not reject the transactions, and can not do much except warning the client, if desired in writing, that in such transaction SEBI can take stringent penal actions against the cartel.
This is done by interested traders to create false impression about the prices and trading quantity.
As an auditor as such we can not reject the transactions, and can not do much except warning the client, if desired in writing, that in such transaction SEBI can take stringent penal actions against the cartel.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- ITR -1 Filing
- TWO FIRM NAME IN ONE GST NUMBER
- Transportation of Petrol, Diesel by GTA and Other than GTA
- Section 54 f disallowed will be taxed at what rate
- SEA GOING ALLOWANCE
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- IGST Refund pending since June 2022.
- Share in property
- Eway issued more than one
- Trust 10AB form required for old asst. years?
- Interest on building loan
- Non- payment of GST on supply of services- reg
- Other party gstin shown on my login id
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Query on TDS Section 194H
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
- Gst1A within time, will the customer get corrected ITC set off?
- Credit note for cycle round
Trending Online Classes
CAclubindia
