Page 4 - Ministry Of Corporate Affairs

Over 380,000 firms struck off under companies law in 3 years: Govt

In a written reply to the Rajya Sabha, Minister of State for Corporate Affairs Anurag Singh Thakur also said the term "shell company" is not defined under the Companies Act

All you need to know about the Companies (Amendment) Bill 2020

Listen to the podcast to know about the changes introduced in the Companies Act

Changes to Companies Act: Here are the amendments passed by Lok Sabha

Around 48 sections of the Companies Act, 2013 will be amended to decriminalise various offences

Companies can now hold their FY20 Annual General Meeting by Dec 31: MCA

In a major relief for corporates, the Ministry of Corporate Affairs (MCA) has extended the deadline to hold AGM for the financial year 2019-20 till December 31 in the wake of the pandemic

MCA amends deposit rules for startups, extends exemptions up to 10 yrs

Earlier, the limits of total deposit from members did not apply to a startup for five years from date of its incorporation

Covid-19 impact: MCA gives companies three more months to hold AGM for FY20

Companies are required to hold the AGM within six months of the end of a financial year

Nirav Modi case: PNB receives Rs 24 cr as first tranche of recovery from US

The central government said that PNB has informed the Ministry of Corporate Affairs that it has received 3.25 mn as the first tranche of recoveries in fugitive Nirav Modi case from the USA

PNB makes first recovery of Rs 24 cr in Nirav Modi fraud case in US

This was the maiden corporate fraud case abroad that MCA intervened in; Rs 82 cr in all will be distributed among unsecured creditors, including PNB, after assets of tainted group are liquidated

Ease of doing biz: Govt proposes unified compliance platform for India Inc

The Ministry of Corporate Affairs has started discussions with RBI, Sebi, and DPIIT

Corp affairs ministry allows companies to extend AGMs for up to 3 months

The firms will have to file an application to get an extension

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".