Corporate Affairs Ministry

Auditing Misconduct in India: Diversion of Law by Multi-national Accounting Firms.

Multi-National Accounting Firms (MAFs) are corporate persons who dominate the auditing market in the World. The Big Four Accounting firms in India – Deloitte, Ernst and Young, PricewaterhouseCoopers and KPMG, bags half the business from India’s top 500 listed firms and all the fortune 100 firms except one[1]. The billings of top 6 MAFs is… Read More

Tags: Corporate Affairs MinistryThe Institute of Chartered Accountants of India

Procedure for Authorization of Related Party Transactions under the Companies Act, 2013 – The Conundrum that it is

Introduction Members of the professional fraternity are aware that the Companies Act 2013(hereinafter referred to as The Act) is being notified for implementation in a phased manner-not surprisingly though, considering its overwhelming slant and dependence on sub-ordinate Legislation in the form of Rules. As we write these lines, only 98 out of the 470 Sections  … Read More

Tags: Audit CommitteeCompanies ActCorporate Affairs MinistryCorporate GovernanceCorporate lawInstitute of Chartered Accountants of IndiaNational Football League DraftOfficial Gazette

Assocham 6th National Conference on Companies Act 2013 at Ahmedabad

ASSOCHAM National Conferences on  Companies Act 2013 - New Rules for the Game ----------------------------------------------------------------------------------- Overview The recently enacted Companies Act, 2013 is a historic piece of legislation aimed at improving transparency and accountability in India™s corporate sector. A part of the Act has already become effective with the notification of 98 sections and the draft Rules… Read More

Tags: AhmedabadASSOCHAMCompanies ActCorporate Affairs MinistryCorporate Governancecorporate social responsibilityIndiaSpice Group

MCA Organized more than 1300 Investor Awareness Programmes

During the Current Financial Year, a total of 1,370 Investor Awareness Programmes have been organized by the Ministry of Corporate Affairs in various parts of the country as on 31.12.2013 through its 3 Professional Institutes: Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI) and the Institute of Cost Accountants… Read More

Tags: Corporate Affairs MinistryICSIIndiaInstitute of Company Secretaries of IndiaInstitute of Cost Accountants of IndiaNew DelhiRajasthanUttar Pradesh

MCA Finalizes Rules for NCLT (Salary of Chairperson & Other Members) – to be notified in Official Gazette

The Ministry of Corporate Affairs has finalized some of the Rules leading to the formation of NCLT. The first set of rules will be called the National Company Law Tribunal (Salary, Allowances and other Terms and Conditions of Service of Chairperson and other Members) Rules, 2013, will be published in the Official Gazette of India. The… Read More

Tags: AllowancesCompanies ActCorporate Affairs MinistryIndiaLokSabhaNCLTOfficial Gazette of IndiaSecurities & Exchange Board of India

MCA Finalizes Rules for NCLT (Salary of President & Other Members) – to be notified in Official Gazette

The Ministry of Corporate Affairs has finalized some of the Rules leading to the formation of NCLT. The first set of rules will be called the National Company Law Tribunal (Salary, Allowances and other Terms and Conditions of Service of President and other Members) Rules, 2013, will be published in the Official Gazette of India. The… Read More

Tags: AllowancesCompanies ActCorporate Affairs MinistryGovernmentGovernment of IndiaIndiaLokSabhaNational Company Law TribunalNCLTOfficial GazetteOfficial Gazette of IndiaSachin Pilot

Registered Valuers Under Companies Act, 2013

Registered Valuer is one among the many new concepts introduced by the Companies Act, 2013 to provide for a proper mechanism for valuation of the various assets and liabilities related to a company and to standardize the procedure thereof. This will not only help in eliminating doubts relating to arbitrary valuation and window dressing but… Read More

Tags: Book valueCentral GovernmentCompanies ActCompanyCorporate Affairs MinistryDiscounted cash flowEmployee stock optionGovernment of IndiaIndiaReal estate appraisalValuation (finance)

Provisions for Enquiring Into Irregularities of Corporates

No instance of Satyam Computers like corporate fraud and malfeasance has so for come to light. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister for Corporate Affairs, said that alleged irregularities are enquired into through the following measures: ¢ Conducting technical scrutiny of the Balance… Read More

Tags: Balance sheetCompanies ActCompanies Act 1956Corporate Affairs MinistryLokSabhaRegistrar of CompaniesSachin PilotShri Sachin Pilot

MCA Measures to Prevent and Deal with Occurrence of Frauds

During the last three years and the current year (till date), the Ministry of Corporate Affairs has ordered investigations under section 235 and section 237 of the Companies Act, 1956 in 139 cases of alleged corporate frauds through the Serious Fraud Investigation Office (SFIO) of the Ministry. Giving this information in written reply to a question… Read More

Tags: Collective investment schemeCompanies ActCompanies Act 1956Corporate Affairs MinistryCorporate GovernanceLokSabhaSachin PilotWest Bengal

Exemption from Competition Act

The Government, vide notification dated 08.01.2013 has already exempted a banking company in respect of which a notification under section 45 of the Banking Regulation Act, 1949 has been issued for its amalgamation with any other banking institution, from the provisions of section 5 and 6 of the Competition Act, 2002. Giving this information in… Read More

Tags: Companies ActCompetition CommissionCorporate Affairs MinistryGlobal Trust BankLokSabhaOriental Bank of CommerceSachin PilotShri Sachin Pilot

Most Recommendations of The Damodaran Committee Taken Into Account In The Companies Act, 2013

A Committee under the Chairmanship of Shri M. Damodaran was constituted to suggest measures for a roadmap for improving business climate in India. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister for Corporate Affairs, said that the Committee has since submitted its report to the… Read More

Tags: CommitteeCompanies ActCorporate Affairs MinistryGovernment of IndiaIndiaLokSabhaSachin PilotShri Sachin Pilot

Compliance of Secretarial Standards – Whether mandatory requirement for all companies?

Compliance of Secretarial Standards Whether mandatory requirement for all companies? PREAMBLE In accordance with the requirement of the Section 118(10) of the Companies Act, 2013 (˜the Act™), every company shall observe secretarial standards (˜SS™) with respect to general and Board meetings specified by the Institute of Company Secretaries of India (˜ICSI™).  Insertion of this requirement… Read More

Tags: Aditya Birla GroupCompanies ActCompany SecretaryCorporate Affairs MinistryICSIInstitute of Company Secretaries of IndiaMCAPublic company

Penalties Imposed by the Competition Commission of India

Up to 25.11.2013, the Competition Commission of India has imposed penalty of Rs. 8024.18 crore on 154 parties in various cases out of which an amount of Rs. 19.37 crore has been recovered and deposited in Government Account from 58 parties. Giving this information in written reply to a question in the Rajya Sabha today,… Read More

Tags: BillCorporate Affairs MinistryIndiaIndia's Competition CommissionList of Latin phrases (I)LokSabhaRajya SabhaSachin Pilot

Page 1 of 812...Last »

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates