Ministry Of Corporate Affairs

The Ministry of Corporate Affairs (MCA) has introduced e-adjudication and e-consultation platforms to streamline legal proceedings and foster a more business-friendly regulatory environment, a senior official said on Wednesday. Addressing the ASSOCHAM-ACCA Global Summit on Responsible Corporate Governance and Sustainability Reporting, Anita Shah Akella, CEO of the Investor Education and Protection Fund Authority (IEPFA) and Joint Secretary at MCA, highlighted the government's commitment to balancing corporate integrity with economic dynamism. The introduction of e-adjudication and e-consultation platforms aims to simplify legal procedures, improve stakeholders' experience, and bolster India's ranking in the ease of doing business. "We are moving more towards an ease of doing business era, and an ease of exit of business doing era," she said. The corporate affairs ministry has decriminalised various offences under the Companies Act, 2013, marking a significant shift towards a ...

The pilot project of the PM Internship Scheme received over 650,000 applications for 127,000 opportunities offered by 280 Indian companies participating in the scheme

The average time for processing such applications has reduced to 70-90 days from over six months earlier

Creditors have recovered around Rs 3.55 lakh crore through resolution of 1,068 cases under the insolvency law till September this year, the government said on Monday. In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Harsh Malhotra also said that a total of 1,963 CIRP cases are ongoing and out of them, 1,388 have exceeded the time limit of 270 days. CIRP refers to Corporate Insolvency Resolution Process. The minister emphasised that realisation under the IBC is market driven and dependent on quality of assets at the time of resolution. "A total of 1,068 cases have been resolved under the Insolvency and Bankruptcy Code, 2016 (IBC) leading to a recovery of about Rs 3.55 lakh crore to the creditors since inception of IBC till September 2024," he said. So far, six amendments have been made to the IBC to strengthen the resolution process and to ensure proper implementation of provisions of the law. The Insolvency and Bankruptcy Board of India (IBBI) has made

Ajay Bhushan Pandey says the latest reforms proposed to India's audit standards are historic and long overdue

'Only govt can take final call on audit standards'

Shortlist of candidates identified by AI to be shared with firms on Oct 15

MoSPI's move to revise the GDP base year aims to improve accuracy, address past controversies, and align with updated economic realities, while consulting experts on new datasets and methodologies

Aims to provide 125,000 internships in FY25

The scheme, announced in the Budget 2024, aims to provide internship opportunities to 10 million youth in 500 top Corporate Social Responsibility (CSR) spend companies over the next five years

The Public Accounts Committee of Parliament, chaired by Congress leader KC Venugopal, has decided to assess the performance of regulatory bodies established by Acts of Parliament this financial year

A 'neutral panel' to select a pool of applicants after AI-based shortlisting

Scheme portal to go live by Sep-end

Oil and Natural Gas Corporation (ONGC) has got a new director to spearhead its new energy, petrochemicals and corporate strategy as part of a board revamp aimed at breathing fresh life into the state-controlled behemoth. Arunangshu Sarkar has been appointed as Director for strategy and corporate affairs, ONGC said in a stock exchange filing. Before the elevation, Sarkar, a petroleum engineer from the Indian School of Mines, Dhanbad, was Group General Manager (Production) at ONGC. He had previously worked as General Manager (Strategy & Corporate Planning), ONGC Videsh Ltd - the overseas investment arm of ONGC. Two years back, the board of ONGC was reorganised. Besides creating the new post of Director (Strategy & Corporate Affairs), the post of Director (Production) was created after merging Director (Onshore), who is in charge of all oil and gas fields located on land, and Director (Offshore) who looks after all offshore assets, such as the prime Mumbai High fields. In ...

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

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

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

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

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

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