Page 3 - Ministry Of Corporate Affairs

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

Compliance with new rules for audit reports deferred to April 2021-22

CARO 2020 requires auditors to comment on 50 matters as against 21 in the 2016 version of the order

Sebi defers T+1 settlement plan after opposition from foreign investors

Measures related to capital markets aimed at providing an impetus to economic growth will be discussed, sources said.

Govt may keep China, Hong Kong out of foreign listing as tensions simmer

The move is in contrast to what an expert committee of Sebi had recommended in 2018 for China and Hong Kong to be permitted

Draft pre-packaged scheme for insolvency largely based on British law

Rules to ensure that process doesn't remain debtor-driven but protects creditor's interests

Harsh Vardhan Lodha removed from the board of M P Birla investment firms

Birla side says corporate affairs ministry approved and accepted the cessation of his directorship on November 18

Easier overseas listing

Move will remove a major bottleneck for start-ups, MSMEs

Govt framing rules for easy foreign listing of start-ups and MSMEs

New rules will formalise an industry practice, reduce costs of transaction

IBBI approaches SC to club all cases on personal guarantee pending in HCs

Top court likely to give its order on Thursday, has indicated it may transfer all cases to itself, according to a senior lawyer

MCA defends IBC provision on personal insolvency in Anil Ambani case

MCA is engaging with the law ministry to present the government's side of the argument

Corporate Affairs ministry extends date for various schemes amid Covid-19

Under the schemes, entities are allowed to submit filings without late fee and also get immunity from penal proceedings with respect to delay in submission of requisite filings.