Page 5 - Ministry Of Corporate Affairs

MCA amends provisions of SBO's share transfer to investor awareness fund

An SBO is a person holding a beneficial interest of at least 10 per cent whether acting alone, together or through one or more individuals or trust, in a company

CCI approves sale of YES Bank's MF subsidiaries to GPL Finance

Fair trade regulator Competition Commission of India (CCI) on Tuesday approved the acquisition of Yes Asset Management (India) Ltd and Yes Trustee Limited by GPL Finance and Investments Ltd.

Companies can create Covid-19 health infrastructure as CSR activity

Firms can work on Covid-19 healthcare either themselves or in collaboration with others.

Corporate affairs ministry facilitates tracking down of payments to MSMEs

From the next month, companies are required to disclose trade payables according to their ageing - less than one year, 1-2 years, 2-3 years, and more than three years - in their financial statements

Govt mandates companies to disclose investments in cryptocurrencies

Govt asks companies to also reveal CSR spend, benami property transactions from FY22

Govt to announce forensic auditing norms, bring clarity in fraud detection

Standards used now are not clear, resulting in hundreds of cases across India courts filed by borrowers, companies and individuals

Profit or loss, independent directors of companies must get paid: MCA

Till now, there was no provision in the Companies Act that allowed a remuneration for the non-executive director if the company was in loss or had inadequate profits

MCA21 Version 3.0: Govt's automated system to keep an eye on firms

The centre will issue warning if it detects suspicious practices

Corporate affairs ministry investigates irregularities at Edelweiss ARC

Its shares were locked in the 5 per cent lower circuit on the BSE on Thursday at Rs 80.20 following reports of the probe

Corporate affairs ministry probes irregularities at Edelweiss' ARC Arm

The corporate affairs ministry is inspecting books of accounts at the financial services firm

Finmin asks Sebi to make greater disclosure in the annual report

Ministry put out a new rule through a gazette notification

Ministry of Corporate Affairs cautions investors against Nidhi companies

A Nidhi company is a non-banking financial company doing the business of lending and borrowing with its members or shareholders.

MCA signs pact with CBIC for data exchange to boost regulatory enforcement

The move, expected to enhance ease of doing business, will use data analytics and artificial intelligence to improve regulatory enforcement.

Limited liability partnerships to disclose 'beneficial ownership'

The rules for disqualification of directors for non-filing of annual returns for any three consecutive years will also be made applicable to LLPs

No data on number of companies giving online app-based loans, says govt

Anurag Thakur informed the Parliament that the MCA does not capture the data of registered companies providing online lending services

Registration of companies up despite Covid-19 pandemic, shows data

Also, 85 per cent fewer companies were closed in the year, compared to those in 2019.

Trusts and societies have till April 1 to register with MCA under CSR rules

CSR rules notified by MCA; multi-year projects allowed with a time-limit of three years

MCA proposes pre-packaged insolvency resolution process for Covid defaults

The future phases would cover a default above Rs 1 crore, followed by Rs 1 to Rs 1 lakh

Compliance with new rules for audit reports deferred to next financial year

Move comes as relief to companies, which will be able to use the additional time to prioritise allocation of resources and better prepare for enhanced requirements

Corporate affairs ministry defers implementation of CARO order

This comes amid the disruptions caused by the coronavirus pandemic