Measures to Check the Incidents of Vanishing Companies

Presently, there are 87 companies falling under the category, Vanishing Companies. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that the FIRs have been lodged against all 87 companies and their Directors to trace their whereabouts and also to take action under… Read More

Tags: Companies ActCorporate Affairs MinistryIndian Penal CodeLok SabhaMinistryPublic companySachin PilotThe Companies Act 1956

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

MCA Directs Distribution of Monies realized from Assets of Defunct Companies

Shri Sachin Pilot Directs Expeditious Distribution of Rs 3,270 Crore, Realized from the Assets of Defunct Companies, to Claimants Corporate Affairs Minister ShRI Sachin Pilot took a meeting of the Official Liquidators (OLs) attached with different High Courts here yesterday to take stock of their work relating to dissolution and winding up of companies. It… Read More

Tags: Capacity buildingIndiaLiquidationMinisterMinistryNew DelhiSachin PilotStandard operating procedure

Industry not bound by the Trade Notes have a right to challenge the same

CLR Editorial Notes: This case refers to an appeal against a Tribunal's show cause notice, filed by an organization over entitlement to Deemed Credit as per Department Notification No.01/93 of Central Excise dated 28.02.1993 and Ministry's Order in TS/36/94-TRU dated 01.03.1994, even after the Appellant Unit crossed the value of clearances of Rs.75 lakhs.  The Manufacturing unit… Read More

Tags: AppealCase LawsCESTATChennaiCustoms Excise and Service Tax Appellate TribunalHonIndiaMinistryMumbaiThe Honourable

Government Prepares White Paper on New Civil Aviation Policy

Minister of State for Civil Aviation, Shri K. C. Venugopal informed Rajya Sabha today that a long term Civil Aviation Policy was needed to have a sustainable, orderly growth of the aviation sector. Accordingly, a consultation paper was prepared and placed on the website of the Ministry inviting comments of stakeholders. Based on the comments… Read More

Tags: Airports Authority of IndiaAviationCivil AviationGovernmentMinistryRajya SabhaShri K. C. Venugopal

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