Business Standard

Page 5 - Ministry Of Corporate Affairs

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

Firms red-flag pitfalls of IBC suspension; law's future unsure, say experts
Updated On : 21 May 2020 | 10:50 PM IST

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

Shareholders unhappy with virtual AGM concept, but little choice available
Updated On : 12 May 2020 | 2:05 AM IST

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

Fighting Covid-19: Donations to CM fund won't qualify as CSR, says MCA
Updated On : 11 Apr 2020 | 10:58 PM IST

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

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Updated On : 31 Mar 2020 | 11:02 PM IST

War-time thinking needed, not therapy

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

War-time thinking needed, not therapy
Updated On : 25 Mar 2020 | 10:47 PM IST

Challenges in enhancing audit quality

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

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Updated On : 22 Mar 2020 | 10:03 PM IST

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

Covid-19: MCA eases attendance rules for board meetings till June 30
Updated On : 21 Mar 2020 | 12:32 AM IST

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

Competition Commission allows pre-consultation for filing needs amid crisis
Updated On : 20 Mar 2020 | 2:22 AM IST

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

Govt ramps up capacity of the NCLT Benches to boost decision-making
Updated On : 16 Mar 2020 | 9:58 PM IST

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

Audit space cannot have 'one-size fits all' approach: Corp Affairs Secy
Updated On : 15 Mar 2020 | 4:31 PM IST

Enforcement action or shoot at sight?

The fear of enforcement action often undermines the objective of achieving quality in corporate governance

Enforcement action or shoot at sight?
Updated On : 11 Mar 2020 | 9:52 PM IST

'Technical and complex': Firms rush to file SBO details as deadline nears

Notified by the MCA in 2018, the SBO rules went through major revisions in 2019. The deadline for making the filing has been extended four times since, with the latest being March 31.

'Technical and complex': Firms rush to file SBO details as deadline nears
Updated On : 08 Mar 2020 | 11:09 PM IST

NCLT allows MCA's plea to reopen CG Power's accounts from FY15 to FY19

The National Company Law Tribunal (NCLT) on Thursday allowed a government petition seeking to reopen CG Power and Industrial Solutions accounts from 2014-15 to 2018-19. The corporate affairs ministry had filed an application in the NCLT seeking the appointment of an independent auditor to reopen the accounts of CG Power & Industrial Solution from 2014-15 to 2018-19. The ministry in its prayer had said the reopening of the books of accounts is needed to bring out the truth in the larger public interest. The Mumbai-bench -- comprising members Bhaskara Pantula Mohan and Rajesh Sharma -- in its order also directed the government not to rely on the report by Vaish Associates, and asked them to conduct a separate investigation. The tribunal also denied CG Power & Industrial Solution founder Gautam Thapar's plea to grant stay on the order. Earlier in January, the NCLT had quashed the audit report submitted by Vaish Associates, terming it bogus. Thapar was sacked based on this report,

NCLT allows MCA's plea to reopen CG Power's accounts from FY15 to FY19
Updated On : 06 Mar 2020 | 1:32 AM IST

Greater transparency

New audit rules more onerous, but useful

Greater transparency
Updated On : 02 Mar 2020 | 8:59 AM IST

Related party transactions: Govt, Sebi at the table to cut inconsistencies

The regulator has proposed widening the definition of related party and RPTs, changing the threshold for determining RPTs, and tighter disclosures and approvals.

Related party transactions: Govt, Sebi at the table to cut inconsistencies
Updated On : 02 Mar 2020 | 12:36 AM IST

Draft Competition (Amendment) Bill 2020: How life may change for tech firms

The Competition Act requires any proposed combination meeting the specified threshold of asset or turnover to be approved by CCI.

Draft Competition (Amendment) Bill 2020: How life may change for tech firms
Updated On : 01 Mar 2020 | 10:13 PM IST

Govt's new audit rules to shield companies against financial frauds

Companies (Auditor's Report ) Order to enhance disclosures on part of auditors

Govt's new audit rules to shield companies against financial frauds
Updated On : 27 Feb 2020 | 12:16 AM IST

Tweak in Companies Act may allow Indian unlisted firms to list abroad

Currently, Indian companies tap foreign capital mostly through American depository receipts or global depository receipts

Tweak in Companies Act may allow Indian unlisted firms to list abroad
Updated On : 24 Feb 2020 | 2:28 AM IST

Changes in CCI norms proposed to bring buyer cartels under competition law

The ministry also sought to give monetary and penal powers to the director general for investigation under the Competition Commission of India (CCI)

Changes in CCI norms proposed to bring buyer cartels under competition law
Updated On : 22 Feb 2020 | 1:08 AM IST

Making auditors accountable

The MCA's proposals will address the conflict of interest issue

Making auditors accountable
Updated On : 18 Feb 2020 | 8:48 AM IST