Company Law - Corporate Law Reporter

Passage of the new Companies Bill by Lok Sabha

Passage of the new Companies Bill by Lok Sabha and introduction of the Competition Commission of India (Amendment) Bill 2012 in the Parliament are the highlights of the achievements of the Ministry of Corporate Affairs during 2012 Year-end Review 2012 Passing of the new Companies Bill by the Lok Sabha: The passing of the Companies Bill, 2011 by the Lok Sabha on 18th December… Read More

De-Registration of Companies

During the year 2010-11, 2,53,277 companies have not filed their Balance Sheets and Annual Returns. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, said that as per the provisions of Section 220/162 of the Companies Act, 1956 prosecutions are launched by the… Read More

A Round Table on Corporate Regulation: Need for Regulation to be Growth-Oriented, Transparent and Inclusive

Deliberating upon various contours of corporate regulation, experts at a High Level Round Table here today agreed that new age corporate regulation has to be growth oriented, transparent and inclusive. The Round Table, organised by the Indian Institute of Corporate Affairs (IICA, under the aegis of the Ministry of Corporate Affairs) and George Washington University… Read More

Compliance with the Requirements of Corporate Governance

Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of… Read More

Indian Accounting Standards

After extensive stakeholders™ consultation on IFRS standards, the converged Indian Accounting Standards (IND-AS) have been placed on the website of the Ministry of Corporate Affairs for wide dissemination and familiarization with the new standards. Implementation of IND-AS could however be considered once tax and other related issues are resolved. This information was given by Shri… Read More

Competition Commission of India Action Against Carmakers

Competition Commission of India (CCI), on receipt of information under Section 19(1) (a) of the Competition Act, 2002 alleging anti-competitive practices against certain car manufacturers, has initiated proceedings under the provisions of the Competition Act, 2002.This information was given by Shri Sachin Pilot, Minister of Corporate Affairs in written reply to a question in the… Read More

Salient Features of the Companies Bill 2011

The Companies Bill, 2011, which was passed by the Lok Sabha yesterday, on its enactment will allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of companies in the country, viz. the Companies Act, 1956 had been under consideration for quite long… Read More

Investor Awareness Programmes Conducted by The Ministry of Corporate Affairs

Investor Awareness Programmes (IAPs) are conducted by the Ministry of Corporate Affairs in association with the Professionals Institutes to educate the investors, including the young investors, about the various investments options. These programmes cover various cities and towns (including Tier II and Tier III towns) across the country. Giving this information in written reply to… Read More

Competition Commission of India Enquiry against All India Motor Transport Congress

The Competition Commission of India (CCI) is considering allegations of restrictive trade practices, collusive practices and violation of provisions of the Competition Act, 2002 regarding anti-competitive agreements and abuse of dominant position against All India Motor Transport Congress. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot,… Read More

Central Monitoring Committee and Regional task Forces on Vanishing Companies

The Government has constituted a Central Monitoring Committee and Regional Task Forces on vanishing companies to keep a check on such cases. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that the number of companies vanishing from Bihar has not increased… Read More

Uniform interest Rate’s Issue on Savings Bank Account

The issue related to the four per cent interest rate being paid by all public sector banks on savings bank deposits despite the Reserve Bank of India moving to an unregulated regime in October, 2011 was considered by the Competition Commission of India. Giving this information in written reply to a question in the Lok… Read More

Inter-Ministerial Group on Multi Level Marketing Companies

Department of Financial Services has constituted an Inter-Ministerial Group consisting of the representatives from Department of Financial Services, Ministry of Corporate Affairs, Reserve Bank of India, Securities and Exchange Board of India, Department of Consumers Affairs and Central Economic Intelligence Bureau (CEIB) to draft model Rules on Multi Level Marketing (MLM) Companies and on the… Read More

FIRs to be raised against 87 “Vanishing” Companies and their Directors

The Ministry of Corporate Affairs had initially identified 238 companies as vanishing companies. Out of these, names of 151 companies have since been deleted from the list as the companies started filing their Balance Sheets etc. with Registrars of Companies as well as Stock Exchanges and the criteria for treating a company as ˜vanishing™ is… Read More