Investigation by SFIO in Company Liquidations
During the last five years, 27 companies under liquidation were referred to the Serious Fraud Investigation Office (SFIO) for investigation. Giving this information in written reply to a question in the Lok Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that out of the said 27 cases, SFIO has completed investigation in 24… Read More
Publishing the Names of Questionable Multi-Level Marketing Companies
Decision to publish names of Multi Level Marketing companies which come to adverse notice of this Ministry is under consideration of the Ministry of Corporate Affairs. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corporate Affairs, however, said that the members of the public… Read More
Government Reviews Foreign investment Policy for Assets
Government Reviews Foreign investment Policy for Assets Reconstruction Sector; Ceiling for FDI in ARCs increased from 49% to 74% The Central Government had permitted Foreign Direct Investment (FDI) in the equity capital of Asset Reconstruction Company (ARCs) upto 49% vide Press Release dated 08.11.2005. Further, on 09.11.2005, the Government permitted the Foreign Institutional Investors (FIIs)… Read More
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
Labour Laws Applicable to Casual and Self Employed Work Force
Reliable estimates of employment and unemployment are obtained through quinquennial labour force surveys conducted by National Sample Survey Office (NSSO). Last such quinquennial labour force survey was conducted during 2009-10. As per results of the most recent survey, 15.6 per cent, 33.5 per cent and 51.0 per cent of the total work force on usual… 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
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