Ministry Of Corporate Affairs

Registrar of Companies to crack down on law violators with new reforms

Registrar of Companies expect to conduct a more detailed analysis of transactions involving companies that draw attention due to certain regulatory concerns

877 foreign firms ceased their 'place of business' in India in 2014-2021

The Ministry of Corporate Affairs in a written reply in Rajya Sabha on Tuesday said that Ford and Harley Davidson have not closed their place of business in India

Govt panel concludes stakeholder discussion on digital competition law

Govt panel concludes stakeholder discussion on digital competition law

Govt invites applications for 17 posts at CCI on deputation basis

The government has invited applications for 17 posts, including for Additional Director General and Deputy Director General, at the Competition Commission of India (CCI) on a deputation basis. The CCI, which comes under the Ministry of Corporate Affairs (MCA), keeps a tab on anti-competitive practices in the marketplace and also works towards promoting fair trade practices. Applications have been sought for the posts of Additional Director General, Joint Director General and Deputy Director General, among others, according to a notice. Applicants must be employees of central or state governments, government companies or autonomous bodies or regulatory authorities or universities or judicial institutions of central/ state governments. The appointment will be made on deputation on a foreign service terms basis initially for a period of three years, which can be extended for a period not exceeding seven years. "Applications in the prescribed proforma, together with all necessary ...

Taking several steps to create global brand for Indian tea: Comm Min

India has taken several steps to boost tea output, create a niche brand for the Indian tea and ensure the welfare of families associated with this industry, the commerce ministry said on Thursday. India is the second largest tea producer and the largest black tea producer and is self-sufficient in meeting domestic requirements and export obligations. It said the Indian tea is exported to various destinations and is the fourth largest tea exporter besides catering to a large number of domestic consumers. The industry is employing 1.16 million workers directly and an equal number are associated with it indirectly. "Government through the Tea Board had helped in the formation of 352 Self Help Groups , 440 Farmer Producer Organisations and 17 Farmer Producer Companies. Assistance has been provided towards procurement of pruning machines and mechanical harvesters," it said. Other measures include setting up of mini tea factories to encourage entrepreneurs; development of mobile app 'Ch

MCA approves demerger of core and non-core assets of Shipping Corp

Financial bids may be invited a month or two after SCILAL is listed

RoC to check GoMechanic's books amid allegations of irregularities: Report

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with directions from the Ministry of Corporate Affairs (MCA)

Simplified filings: RoC approval not required for most corporate actions

The govt has introduced a new system called "file and forget," which is part of its ongoing revamp of the statutory filing website, MCA21

FinMin directs Corporate Affairs Ministry to resolve MCA21 portal issues

The Finance Ministry on Tuesday took cognisance of the technical glitches being faced by the companies while filing incorporation documents on the newly-launched MCA21 V3 portal, saying that the Corporate Affairs Ministry is working in cooperation with Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and consultants Ernst & Young to resolve the matter on priority.

As MCA updates its portal, companies unable to complete essential filings

Market experts said, several of these companies were already in violation of the filing rules due to their inability to submit certain forms, thanks to the portal issues

MCA likely to include tech experts in digital competition law panel

Startups, meanwhile, have been concerned about non-representation on the government panel which many said was skewed in favour of the big tech firms

16-member panel set up to draft Digital Competition Act within 3 months

Panel comprising civil servants, experts will study if Competition Act, 2002 enough to deal with new digital economy

3,552 foreign companies, subsidiaries closed in India between 2017-2022

A total of 3,552 foreign companies and subsidiaries of foreign companies have been closed in India between 2017 and 2022.

Ministry of Corporate Affairs reviews Adani Group's financial statements

India's ministry of corporate affairs has started a preliminary review of Adani Group's financial statements and other regulatory submissions made over the years

Changes to Competition Amendment Bill likely next week in Budget session

The panel had said that the MCA had not put forth a strong argument as to why IPR could not be used as a defence against the abuse of a dominant position

Budget 2023: Corp Affairs min gets Rs 756 cr, higher than current fiscal

The corporate affairs ministry will get a budgetary allocation of Rs 756.19 crore in the next financial year, higher than the amount earmarked for the ongoing fiscal ending March 31. In 2022-23, the total allocation was initially at Rs 733.02 crore, and the same was sharply revised to Rs 630.36 crore, according to the Union Budget 2023-24 presented in Parliament on Wednesday. The Budget documents showed that out of the total amount of Rs 756.19 crore for the next fiscal, Rs 714.19 crore will be from the revenue side and Rs 42 crore from the capital side for 2023-24. The funds towards regional directors, official liquidators and other expenditures with reference to various bodies under the Companies Act have been hiked to Rs 330 crore for the next financial year over the current fiscal. Another expenditure pertains to expenses of the Serious Fraud Investigation Office (SFIO), National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), National Financial ..

Company formation, conversion made easier and swifter on new MCA portal

The corporate affairs ministry has made more than 46 forms available on the latest version-3 of its portal on Monday, for easier and faster filing

Top headlines: CAD likely to narrow in 2023, misuse of IBC, and more

Business Standard brings you the top headlines at this hour

IBC overhaul seeks to give adjudicating authority a power boost

MCA proposes specialised framework for realty projects

Govt proposes a slew of changes to Insolvency and Bankruptcy Code

Among other changes, the corporate affairs ministry has suggested developing a state-of-the-art electronic platform that can handle several processes under the Code with minimum human interface