Page 7 - Ministry Of Corporate Affairs

Govt panel moots 2 formats for business responsibility reporting by firms

This would help better reflecting the 'intent and scope of reporting requirement,' the report said

Corporate Affairs Min releases report on business responsibility reporting

A panel on Business Responsibility Reporting (BRR) has proposed a new reporting framework for companies to better reflect the intent and scope of reporting on non-financial parameters. The report was released on Tuesday. "In its report, the committee recommended a new reporting framework called as 'Business Responsibility and Sustainability Report (BRSR)' to better reflect the intent and scope of reporting on non-financial parameters," an official release said. Further, the panel has recommended two formats for disclosures. "The committee also recommended that the BRSR be integrated with the MCA 21 portal. As a long-term measure, the committee envisions that the information captured through BRSR filings be used to develop a Business Responsibility-Sustainability Index for companies," the release said. Filings under the Companies Act are submitted to the corporate affairs ministry through the portal. As per the release, Corporate Affairs Secretary Rajesh Verma appreciated the effo

Total registered firms top 2 million at June-end; over 740,000 closed: Govt

The latest data from the corporate affairs ministry also showed that there were little over 1,215,000 active companies as on June 30.

Honda Siel Power Products changes name to Honda India Power Products

Subsequent to cessation of JV with Usha International, Honda Siel applied for the corporate name change which was recently certified by RoC

Corporate Affairs Ministry allows virtual board meetings till September

The relaxation comes amid the coronavirus pandemic. Initially, the ministry had allowed companies to hold board meetings through video conferences till June 30

Fair treatment of offences

Govt's move on decriminalisation is welcome

Govt allows startups to issue sweat equity for 10 years after registration

Industry experts expect the move to help startups in terms of enhancing their ability to incentivise personnel and retain talent

Beyond financial numbers

The need to present investors with meaningful business commentary is greater during periods of extreme disruption like the one we are going through than when it's business as usual

Donations by companies to PM-CARES Fund notified as CSR, says govt

Finance Minister Nirmala Sitharaman had tweeted on March 29 that CSR Funds can now donate to PM CARES Fund

NCLAT quashes NCLT order making MCA a party to all IBC proceedings

Allowing the plea filed by the MCA, a two-member bench of the appellate tribunal said the NCLT's direction was "beyond the power" and amounted to "imposition of a new rule in a compelling fashion".

Firms red-flag pitfalls of IBC suspension; law's future unsure, say experts

With the Insolvency and Bankruptcy Code, which was the instrument lenders had to make their borrowers fall in line, suspended for a year, many say this makes uncertain the future of a landmark law

Shareholders unhappy with virtual AGM concept, but little choice available

The Ministry of Corporate Affairs (MCA) had clarified earlier this month that it would be allowing the meetings to be conducted online because of Covid-19

Fighting Covid-19: Donations to CM fund won't qualify as CSR, says MCA

Ex-gratia payments to workers will be treated as CSR, provided these are over and above wages

Family businesses: Time to stand up

Taking care of people and communities in times of crisis can offer a brand or company many long-term benefits

War-time thinking needed, not therapy

An extraordinary situation requires an extraordinary response from the framework of the law

Challenges in enhancing audit quality

Key concepts that impact audit quality, the central theme of the MCA paper

Covid-19: MCA eases attendance rules for board meetings till June 30

Relaxation allows directors to attend via audio-visual means even for approval of financial statements and the board's report

Competition Commission allows pre-consultation for filing needs amid crisis

The video conferencing will be done at the office of the regional director, registrar of companies, Ministry of Corporate Affairs

Govt ramps up capacity of the NCLT Benches to boost decision-making

Since inception, close to 62,000 cases came to the NCLT. These include the ones which transferred from board of industrial and financial reconstruction and high courts

Audit space cannot have 'one-size fits all' approach: Corp Affairs Secy

The ICAI is the apex body of chartered accountants. Overseas audit entities operate in the country through network firms model