Corporate Affairs Ministry

Committee on Business Climate

A Committee under the Chairmanship of Sh. M. Damodaran has been constituted on 23.08.2012 by this Ministry to extensively examine different areas of root functioning such as financial reforms, governance reforms, liberalized policy framework, process reforms etc, and to suggest a roadmap for improving climate in India. The Committee is likely to submit its report… Read More

Tags: CommitteeCompanyCorporate Affairs MinistryIndiaLok SabhaMergers & AcquisitionsMinistrySachin Pilot

CLR Important | Provision Regarding ˜Key Managerial Personnel™ in the Companies Bill, 2012

The Companies Bill, 2012, as passed by Lok Sabha, inter-alia, incorporates provisions (Clause 203) regarding appointment of ˜Key Managerial Personnel™ (KMP) which provides that every Company, belonging to such class or classes of company as may be prescribed, shall have a Company Secretary as whole-time key managerial personnel. Giving this information in written reply to… Read More

Tags: CompanyCompany SecretaryCorporate Affairs MinistryICSIIndiaInstitute of Company Secretaries of IndiaLok SabhaSachin Pilot

Unclaimed Money Lying With Companies

The Ministry of Corporate Affairs has decided to analyse the data uploaded on the MCA 21 portal by companies regarding unpaid and unclaimed money lying with such companies. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that it has also been decided… Read More

Tags: AsiaCorporate Affairs MinistryGovernmentIndiaLok SabhaMinister of Corporate AffairsSachin PilotShri Sachin Pilot

Companies Bill, 2012 provides for Regulation of Foreign Online Companies

Sachin Pilot, MCA It had come to the notice of the Government that certain foreign entities are conducting online activities in India without actually getting themselves registered. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that in order to regulate online activities… Read More

Tags: AsiaBillCompanyCorporate Affairs MinistryGovernmentIndiaRajya SabhaSachin Pilot

Penal Action Against Fraudulent Companies

Sachin Pilot, Minister for Coroporate Affairs During last five years i.e. from 2008-09 to 2012-13 a total of 782 inspection reports in respect of companies were received in the Ministry of Corporate Affairs. Based on the findings in the inspection reports, penal actions have been taken against the companies and their directors/officers in default for… Read More

Tags: Balance sheetCompanies ActCorporate Affairs MinistryMarket ResearchRajya SabhaSachin PilotThe Companies Act 1956xbrl

Ministry of Corporate Affairs – Special Task Force Constituted in the SFIO to Investigate

Special Task Force Constituted in the SFIO to Investigate The Affairs of Certain Chit Fund Companies The Ministry of Corporate Affairs has taken note of the misuse by certain Chit Fund Companies who have raised huge sums of money from the public at large. The State Governments are the appropriate authorities for regulation of such… Read More

Tags: Chit fundCorporate Affairs MinistryFrench Section of the Workers' InternationalKolkataSerious Fraud Investigation OfficeSFIOSpecial Task ForceWest Bengal

Corporate Governance Conference in Delhi

Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy Sachin Pilot Corporate Affairs Minister Inaugurates ˜CSIA International Corporate Governance Conference™ Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ˜Corporate Governance for Sustaining Prosperity… Read More

Tags: Corporate Affairs MinistryCorporate GovernanceIndiaInstitute of Company Secretaries of IndiaMinister of Corporate AffairsPosteritySachin PilotSustainability

MCA signs MoUs for developing a Comprehensive system for early detection of corporate frauds

Signing of MOUs between Ministry of Corporate Affairs and Financial intelligence unit & NIELIT Giving a fillip to the early establishment of a state-of-art Forensic Lab within the premises of Serious Fraud Investigation Office (SFIO) in the national capital; and the development of a Comprehensive Early Warning System (EWS) for detection of corporate fraud and… Read More

Tags: Corporate Affairs MinistryFinancial IntelligenceFIUMemorandum of understandingSFIO

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