Ministry Of Corporate Affairs

In a first, govt to conduct yearly private capex survey from October

The annual private capex survey will run in conjunction with the annual survey of industries, which tracks output, value-added, and employment across manufacturing sector enterprises

Govt notifies NaBFID as a public financial institution under Companies Act

The government has notified the National Bank for Financing Infrastructure and Development (NaBFID) as a public financial institution under the Companies Act. This will help the government fortify the nation's infrastructure finance structures. In a notification issued on September 10, the Corporate Affairs Ministry said that in exercise of the powers, Section 2 of the Companies Act, 2013, the Central Government, in consultation with the Reserve Bank of India, hereby notifies National Bank for Financing Infrastructure and Development as a "public financial institution". The move will enhance the bank's capacity to finance large-scale infrastructure projects, thereby bolstering the country's infrastructure development. NaBFID, a specialised Development Finance Institution (DFI), was set up in 2021, by an Act (The National Bank for Financing Infrastructure and Development Act, 2021). The Bank was set up with the essential objectives of addressing the gaps in long-term non-recourse

New rules for mergers involving foreign firms announced: What this means

Latest amendments introduced by the Ministry of Corporate Affairs require companies to receive prior permission from the Reserve Bank of India for mergers and acquisitions

M&A deal value of over Rs 2,000 crore comes under Competition Act

The government aims to scrutinise mergers that might escape under the traditional "asset" or turnover-based thresholds

Draft Digital Competition Bill: Kirana vs quick commerce likely on table

Consumer ministry raises with MCA potential threat to local stores from burgeoning quick ecom

Proposed digital antitrust law likely to cover 'killer acquisitions'

Killer acquisitions are deals where a dominant company acquires a smaller innovative firm to prevent competition

MCA likely to bring out internship scheme guidelines within two weeks

The MCA has held industry consultations on the scheme before finalising the guidelines. The ministry will also put in place checks and balances in the scheme to ensure transparency

Ministry of Corporate Affairs launches probe into Snapdeal operator

The probe is reportedly part of a larger investigation by the MCA into around 700 companies that have received investments from Chinese firms

Centre sets up team to implement internship scheme announced in Budget

The Union Ministry of Corporate Affairs is holding discussions with corporate HR leaders in Delhi and Mumbai to finalise the contours of the scheme

MCA website lists Agora status as 'active'; contradicts Buch's claim

Experts suggest Chair may have used term loosely

'Internship scheme a complicated solution to a complicated issue': Fin secy

At 'Budget with BS: The Fine Print,' Finance Secretary TV Somanathan said companies costs for interns will be funded through their CSR budgets

Govt taking steps to cut pending cases under companies law: FM Sitharaman

The Ministry of Corporate Affairs (MCA) has taken several steps, including the withdrawal of prosecutions and compoundable cases, to reduce litigations under the companies law, Finance Minister Nirmala Sitharaman said Monday. Sitharaman, also the Union Minister of Corporate Affairs, said in Lok Sabha that 14,247 prosecutions were withdrawn in the first special drive conducted in 2017 and a decision has also been taken for withdrawing 7,338 compoundable cases identified in the second special drive in 2023. "Till July 15, 2024, a total of 6,294 applications for withdrawal have been filed before various courts. However, serious or non-compoundable offences will continue to be prosecuted," she said in Lok Sabha. The minister said the MCA has taken several steps to review pending prosecutions in various courts. In 2017 and later in 2022, a committee of senior officers of the ministry was set up to give recommendations on withdrawal of prosecutions. The objective was to free judicial cou

Companies now have to report dealings with MSEs on half-yearly basis

This will ensure greater transparency and discourage delayed payments to small enterprises

MCA allows multiple KYC updates throughout the year for directors

Earlier, once annual KYC was filed, mobile numbers and email IDs could not be updated till April the next year

Central processing centre sees better results on forms shifted from RoC

The Ministry of Corporate Affairs plans to shift an additional 14 such forms from the Registrar of Companies (RoC) offices to the CPC by the end of this financial year, sources informed

Proceedings initiated against Byju's under companies law still ongoing: MCA

The Ministry of Corporate Affairs on Wednesday said proceedings initiated against edtech player BYJU'S under the companies law are "still ongoing" and a final conclusion cannot be drawn in the matter at this stage. Last year, the ministry ordered the inspection of the books of BYJU'S in the wake of various developments at the edtech company, including its inability to finalise the statements and the resignation of an auditor. In a statement on Wednesday, the Ministry of Corporate Affairs (MCA) said reports claiming that BYJU'S has been cleared of financial fraud in an ongoing investigation by it are "factually incorrect and misleading". "The proceedings initiated by MCA under the Companies Act, 2013, are still on going and no final conclusion should be drawn in this matter at this stage," it added. In July 2023, MCA asked the office of the Regional Director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru. Think & ...

Special course to help independent directors read financial statements

Training by the Indian Institute of Corporate Affairs is expected to help improve compliance

ICAI, MCA secretary discuss road map to create big Indian companies

Earlier in May, Finance Minister Nirmala Sitharaman had said that the ICAI should take it as a challenge to set up an Indian big four firm and seek global clients

Divergent views emerge within IAMAI on proposed digital competition bill

The IAMAI has argued against the need for ex-ante regulations for digital markets in their submission on the draft Digital Competition Bill

Consumer Affairs Ministry looking at mediation to solve complaints

The national consumer helpline monthly gets 125,000 complaints