Page 10 - Ministry Of Corporate Affairs

MCA floats a new testing proposal to filter frivolous independent directors

How do laws regarding independent directors in India pan out vis-a-vis other nations?

Corporate debtors set to get IBC immunity against attachment of assets

The MCA has received several representations from companies including JSW and Tata Steel regarding issues that cropped up after the closure of the insolvency and bankruptcy process

Lenders wary of using IBC after ED attaches Bhushan Power assets under PMLA

Lenders say if money laundering provisions are applied to bankruptcy cose, close to 90% cases of NPA in the banking system will turn out to be frauds

Just contributing money is not what govt expects through CSR, says Srinivas

What we urge upon you (companies) is proactive participation and not passive participation, said Corporate Affairs Secretary Injeti Srinivas

Online test for independent directors may be counterproductive, say experts

According to the National Stock Exchange database, there are over 5,500 individuals who hold 7,066 posts of independent directors.

Sort out Bhushan Power and Steel asset issue: NCLAT to MCA and ED

Appellate tribunal says ED can claim dues from proceeds of crime under IBC as operational creditor

Online proficiency self-assessment test for independent directors from Dec

Recent corporate scams have turned the heat on company directors, who, the government feels, failed to detect any signs of trouble

Whistleblower alleges siphoning of funds from MIAL; GVK gets MCA notice

GVK also claimed that none of the group companies, barring MIAL, have received any notice from the ministry

The network effect

Review rules on audit firms providing non-audit services

PMC Bank crisis: Ministry of Corporate Affairs to inspect books of HDIL

The ministry will study the books of account, related-party transactions and filings of the company

MCA plans to amend CA Act to remove conflict of interest in audits

The government, in creating disciplinary mechanisms, could consider bringing in disclosure norms for auditors with respect to non-audit services and fees charged by them

Sebi, Ministry of Corporate Affairs plan to turn up heat on rating firms

Credit rating agencies may be told to follow norms set for bourses; move will change ownership structure

MCA defends IBC amendments, sticks to strict deadlines in Supreme Court

The MCA has told the apex court that processes of corporate insolvency resolution are time-bound and if it does not adhere to the time-limit then the viability of the process is over

CG Power case: Look out circular issued against ex-chairman Gautam Thapar

The case could be referred to the Serious Fraud Investigation Office (SFIO) if the preliminary inspection report points to a fraud and gaping holes in the books of the firm

Overhaul of Sebi panels on the cards to accommodate govt nominees

At present, very few Sebi committees have finance ministry nominees

MCA orders probe against CG Power, inspection report to be ready soon

The office of the MCA's regional director, western region, is in charge of the probe

Criminal offences in Companies Act to be slashed, govt mulls 65 changes

The offences punishable with imprisonment, a fine, or both are compoundable, and offences punishable with imprisonment and a fine are non-compoundable

NCLAT raps MCA, IL&FS board over delay in presenting resolution plan

Appellate tribunal to next hear matter on September 5, asks MCA, IL&FS board to file progress report by September 3

Deloitte Haskins & Sells quits as auditor of cash-strapped DHFL

However, the other joint auditor, Mumbai-based Chaturvedi & Shah, continues to service the company

MCA may expand powers of regional directors for M&As of higher categories

Listed companies are, however, likely to be left out of the purview of regional directors along with unlisted public companies above a certain threshold