Ministry of Corporate Affairs

MCA Notification on Exemption from Vessel Sharing Agreements

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 11 th December, 2013 S.O. 3641(F).- In exercise of powers conferred by clause (a) of Section 54 of the Competition Act, 2002 (12 of 2003), the Central Government, in public interest, hereby exempts the Vessel Sharing Agreements (VSAs) of Liner Shipping Industry from the provisions of Section… Read More

Tags: Central GovernmentDirector-generalGovernment of IndiaIndiaMinistry of Corporate AffairsNew DelhiOfficial GazetteSecretary

Class Action Suits Under Companies Act, 2013

The concept of Class Action Suits is among one of the many novelties introduced by the Companies Act, 2013. Thought the concept per se is not new but in Indian context it has found statutory recognition and enforceability now only by means of Companies Act 2013. The first time class action suit came to the… Read More

Tags: Central GovernmentClass actionCompanies ActCompanies Act 2013IndiaLawsuitMinistry of Corporate AffairsSatyam

Institutional Trading Platform…A Foot Forward….

SEBI (LISTING OF SPECIFIED SECURITIES ON INSTITUTIONAL TRADING PLATFORM) REGULATIONS, 2013 India Inc. can from a bird™s eye view does not consist of only the bigger players in the market. Apart from the bigger players there consist a considerable percentage of the smaller players who have been consistently in pursuit of inorganic and organic expansions… Read More

Tags: Angel investorIndiaInitial Public OfferITP RegulationMinistry of Corporate AffairsSEBISecurities & Exchange Board of IndiaSmall & Medium Enterprises

4th tranche of Draft rules under Companies Act 2013 uploaded for comments

The Ministry of Corporate Affairs has uploaded the 4th tranche of Draft Rules under Companies Act 2013 covering the Investor Education And Protection Fund Authority Rules, 2013.  The last day for receiving suggestion submission is 5th November 2013. Download the Rules from the download section below. 4th tranche of Draft rules under Companies Act 2013   Read More

Tags: Companies Act 2013Draft RulesDraft Rules under Companies Act 2013IEPF AuthorityInvestor Education And Protection Fund Authority Rules 2013MCA21Ministry of Corporate Affairs

MCA Site Filing Records a new high for single day filings

The Ministry of Corporate Affairs website (the MCA21 portal) witnessed a huge surge of filing activities which saw the yearly filings surge to a new high of more than 100,000 filings on a single day i.e. on 26th Oct 2013. This number surpassed the previous high of 88,119 filings. Read More

Tags: MCA21Ministry of Corporate Affairs

CCI Chairman says there is a need to adopt a National Competition Policy

Shri Ashok Chawla, Chairman, Competition Commission of India has emphasised on the need to adopt National Competition Policy. He was speaking at a seminar on National Competition Policy; Second Big Wave of Reforms, organised by Consumer Unity & Trust Society (CUTS) International at Delhi yesterday. Shri Chawla emphasised that the competition law is an essential… Read More

Tags: Competition Commission of IndiaCompetition lawDelhiIndiaMinistry of Corporate AffairsNational Competition PolicyNew DelhiUnited States

FDI Norms on Ownership

The Reserve Bank of India (RBI) has issued a notification amending the Foreign Direct Investment (FDI) norms on ownership during the recent times. Reserve Bank of India has issued Notification No. FEMA.278/2013 dated June 7, 2013 (available on RBI web-site) on guidelines for calculation of total foreign investment in Indian companies, transfer of ownership, control… Read More

Tags: foreign direct investmentIndiaList of companies of IndiaLok SabhaMinistry of Corporate AffairsPlanning CommissionReserve Bank of IndiaRun batted in

Spending on Corporate Social Responsibility by Companies

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the present company law i.e. Companies Act, 1956. However, the new Companies Bill, 2012 has a provision of CSR under Clause 135 which states that every company having net worth of Rs. 500 crore or more, or turnover of Rs. 1000 crore… Read More

Tags: Billcorporate social responsibilityCSRLok SabhaMinistry of Corporate AffairsNet profitSachin PilotThe Companies Act 1956

MCA in the process of Developing an Early Warning System to Identify Early Signs of Frauds

The Ministry of Corporate Affairs is in the process of developing an early warning system to identify early signs of frauds including potential frauds. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that Pilot testing of the proposed system is expected… Read More

Tags: DominicaFraudGovernmentIndiaIndian Penal CodeMinistry of Corporate AffairsRajya SabhaWarning system

Corporate Law Amendment Notification w.r.t. appointment of sole selling agents under Drugs (Prices Control) Order, 1995

MINISTRY OF CORPORATE AFFAIRS NOTIFICATION New Delhi, the 15th July, 2013 GSR. 487(E).- In exercise of the powers conferred by sub-section (l) of section 294AA of the Companies Act, 1956 (l of 1956), the Central Government' hereby makes the following amendments in the notification of the Government of India in the Ministry of Corporate Affairs published in the Gazette of India,… Read More

Tags: Central GovernmentGazette of IndiaGovernment of IndiaMinistry of Corporate AffairsNew DelhiSecretarySection 3

Assocham National Conference on Companies Bill 2012 – Highlights & Insights”

The much awaited Companies Bill, 2012, has been approved by the Lok Sabha, which seeks to revise and modify the existing company law, in consonance with changes in national and international economic environment. In view of these emerging issues and key developments, ASSOCHAM is organizing National Conferences on Companies Bill 2012 - Highlights & Insights on… Read More

Tags: ASSOCHAMBillBusinessCorporate Affairs MinistryCorporate lawHonIndiaLok SabhaMinistry of Corporate AffairsNew DelhiSeminar

SEBI Issues Frequently Asked Questions on ‘Business Responsibility Reports’

SEBI has issued 'Frequently Asked Questions' (FAQs) on 'Business Responsibility Reports' ("BR Reports") providing clarifications/ interpretations to various queries received on SEBI Circular dated August 13, 2012 on 'Business Responsibility Reports'. In the larger interest of public disclosure regarding steps taken by listed companies from Environmental, Social and Governance (ESG) perspective, SEBI had mandated inclusion… Read More

Tags: AnnexationBusinessIndiaMinistry of Corporate AffairsPublic companySEBISecurities & Exchange Board of IndiaStock exchange

CLR Urgent :: New Norms for XBRL Filing

New norms have been put in place for Extensible Business Reporting Language (XBRL) filing with effect from 6th October, 2011 for select class of companies. For the financial years 2010-11 and 2011-12 a total of  2,90,39 and 2,57,86 companies respectively have filed their Balance Sheet using the revised XBRL norms. Giving this information in written reply to a question… Read More

Tags: Balance sheetICAIInstitute of Chartered Accountants of IndiaLok SabhaMinistry of Corporate AffairsSachin PilotTaxonomyxbrl

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