The mandate of the Ministry of Corporate Affairs primarily concerns administration of the legal framework within which companies registered in India are to operate along with some other connected matters. The Ministry of Corporate Affairs had initiated and is also initiating many changes essential to improve the legal framework, simplify procedures and speed up decision-making for ease of doing business to usher in a healthy environment for investment and corporate growth.
A broad attention is invited to the following salient achievements of the Ministry over the past few months.
1. Enhancing Efficacy of Companies Act, 2013 after having various consultations and deliberations with the corporate and other professionals.
2. Providing Greater Clarity in Companies Act, 2013 for Ease of Doing Business to make Companies Act, 2013 more growth friendly is terms of attracting investments and set up businesses in India to boost even more.
3. Simplification of forms and procedures for Easy Compliance for giving greater flexibility to the stakeholders in terms of complying with the provisions as laid down under the Act.
4. Dealing with Corporate Delinquency.
5. Investor Education initiatives.
The Ministry is also aiming at other essential amendments in the future days to come to simplify the legislation (CA 2013) and make it growth friendly in terms of providing easier compliances.