Shri Sachin Pilot

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

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

Amendment of Accounting Standards

Examination of various Rules and Accounting Standards under the Companies Act, 2013 is an ongoing process. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that Accounting Standards are amended from time to time keeping in view the requirements of the situation.… Read More

Tags: Companies ActCompanies Act 1956Corporate Affairs MinistryLokSabhaMinister of Corporate AffairsRajya SabhaSachin PilotShri Sachin Pilot

MCA :: Damodaran Panel™s Report on Business Climate

The Chairman of the Committee (Damodaran Panel) had circulated a draft report for comments earlier last month. The report will be submitted to the Government soon. Giving this information in written reply to a question in the Rajya Sabha earlier last month, Shri Sachin Pilot, Minister of Corporate Affairs, said that the Companies Bill, 2013 which… Read More

Tags: Corporate Affairs MinistryFeedBurnerGovernmentIndiaMergers and acquisitionsRajya SabhaSachin PilotShri Sachin Pilot

Fast Track Exit Mode for Defunct Companies

The Ministry of Corporate Affairs launched Fast Track Exit Mode on 03.07.2011 to provide an opportunity for defunct companies under Section 560 of the Companies Act, 1956 for getting their names struck off from the register of companies, to facilitate the exit of such defunct companies without getting into the process of winding up. Giving this… Read More

Tags: Corporate Affairs MinistryDormant companyLok SabhaMinister of Corporate AffairsRajya SabhaSachin PilotShri Sachin PilotThe Companies Act 1956

CLR Snippets | Draft National Competition Policy

A draft National Competition Policy has been prepared in consultation with all the stake-holders including the State Governments. Giving this information in written reply to a question in the Lok Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that it has now been referred to a Committee of Secretaries for further consideration. Read More

Tags: Corporate Affairs MinistryFeedBurnerGovernmentLokSabhaNational Competition PolicyRajya SabhaSachin PilotShri Sachin Pilot

CLR Snippets | MCA Statement on Complaints against Companies

During the last three years (i.e. 2010-11 to 2012-13), 154 complaints against companies have been received in the Ministry of Corporate Affairs. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that inspections u/s 209A and/ or Investigations u/s 235 or scrutiny… Read More

Tags: Balance sheetCorporate Affairs MinistryFiscal yearIndiaNew DelhiRajya SabhaSachin PilotShri Sachin 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

Corporate Social Responsibility and the Existing Companies Law

There is no provision for Corporate Social Responsibility (CSR) spending by companies in the existing Companies law i.e. Companies Act, 1956. However, the Companies Bill, 2012 incorporates a provision of CSR under Clause 135. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said… Read More

Tags: Businesscorporate social responsibilityCSRNet profitRajya SabhaRupeeSachin PilotShri Sachin Pilot

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