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 sheet, Companies Act, Companies Act 1956, Corporate Affairs Ministry, LokSabha, Registrar of Companies, Sachin Pilot, Shri 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 Act, Competition Commission, Corporate Affairs Ministry, Global Trust Bank, LokSabha, Oriental Bank of Commerce, Sachin Pilot, Shri 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: Committee, Companies Act, Corporate Affairs Ministry, Government of India, India, LokSabha, Sachin Pilot, Shri 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 Act, Companies Act 1956, Corporate Affairs Ministry, LokSabha, Minister of Corporate Affairs, Rajya Sabha, Sachin Pilot, Shri 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 Ministry, FeedBurner, Government, India, Mergers and acquisitions, Rajya Sabha, Sachin Pilot, Shri 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 Ministry, Dormant company, Lok Sabha, Minister of Corporate Affairs, Rajya Sabha, Sachin Pilot, Shri Sachin Pilot, The 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 Ministry, FeedBurner, Government, LokSabha, National Competition Policy, Rajya Sabha, Sachin Pilot, Shri 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 sheet, Corporate Affairs Ministry, Fiscal year, India, New Delhi, Rajya Sabha, Sachin Pilot, Shri 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: Asia, Corporate Affairs Ministry, Government, India, Lok Sabha, Minister of Corporate Affairs, Sachin Pilot, Shri 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: Business, corporate social responsibility, CSR, Net profit, Rajya Sabha, Rupee, Sachin Pilot, Shri Sachin Pilot