[

ministry of corporate affairs

]
The idea is to decriminalize 12 offences that will be dealt with by an in-house adjudication mechanism rather than the NCLT.(Parveen Kumar/HT Photo)

MCA may decriminalise minor, technical LLP violations

By Gireesh Chandra Prasad, New Delhi
PUBLISHED ON MAR 22, 2021 05:31 AM IST
  • The Bill is expected to offer relief on certain fees and penalty for defaults to small LLPs defined on the basis of their total contribution and sales.
Edelweiss ARC on Thursday strongly denied the allegations.
Edelweiss ARC on Thursday strongly denied the allegations.

Edelweiss’ shares fall on reports of irregularities at its ARC unit

By Gopika Gopakumar, Mumbai
PUBLISHED ON MAR 19, 2021 06:25 AM IST
  • According to Moneycontrol, the MCA has ordered an inspection of the company’s books following a shareholder’s complaint to the Prime Minister’s Office (PMO) and the Reserve Bank of India.
The ministry plans to introduce certain new concepts in the LLP Act for greater ease of doing business.(ANI)
The ministry plans to introduce certain new concepts in the LLP Act for greater ease of doing business.(ANI)

Govt to decriminalise 12 offences under LLP Act

PTI | , New Delhi
PUBLISHED ON FEB 03, 2021 10:34 PM IST
Offences that are more appropriate to be dealt with under other laws are proposed to be omitted from the LLP Act.
Representational image.(Getty Images/iStockphoto)
Representational image.(Getty Images/iStockphoto)

Over 1.7 million pending forms filed by 500,000 firms under MCA’s amnesty scheme

Hindustan Times, New Delhi | By Rajeev Jayaswal
UPDATED ON JAN 06, 2021 03:56 PM IST
Some business entities that have not submitted all pending statutory requirements can still do so by paying some additional fee, one of the officials said
In order to tackle the economic concentration of large audit firms, the ministry is seeking views from regulators if the number of audits under one audit firm or auditor could be reduced and whether the number of partners under one audit firm can be fixed.((Photo: iStock))
In order to tackle the economic concentration of large audit firms, the ministry is seeking views from regulators if the number of audits under one audit firm or auditor could be reduced and whether the number of partners under one audit firm can be fixed.((Photo: iStock))

Govt mulls banning non-audit services by statutory auditors, breaking oligopoly of Big Four

Livemint, New Delhi | By Gireesh Chandra Prasad
UPDATED ON FEB 08, 2020 03:56 PM IST
At present, the Companies Act, 2013, prohibits statutory auditors from directly or indirectly offering eight specified services
The move also comes against the backdrop of instances of various FSPs facing problems.(PTI photo)
The move also comes against the backdrop of instances of various FSPs facing problems.(PTI photo)

Government notifies rules under insolvency law for resolution of financial service providers

New Delhi | By Press Trust of India
UPDATED ON NOV 15, 2019 04:12 PM IST
The corporate affairs ministry has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules).
Separately, a government source said that the airline’s former chairman, Naresh Goyal, had approached Delhi High Court to quash an order by authorities that stops him from travelling abroad. (ABHIJIT BHATLEKAR/MINT)
Separately, a government source said that the airline’s former chairman, Naresh Goyal, had approached Delhi High Court to quash an order by authorities that stops him from travelling abroad. (ABHIJIT BHATLEKAR/MINT)

Govt orders probe into Jet Airways over alleged siphoning of funds

New Delhi | By Reuters
UPDATED ON JUL 04, 2019 11:53 PM IST
The ministry ordered India’s Serious Fraud Investigation Office (SFIO) to carry out the probe, according to a government order seen by Reuters.
Fugitive IMA Group of Companies managing director, Mohammed Mansoor Khan. (Youtube)
Fugitive IMA Group of Companies managing director, Mohammed Mansoor Khan. (Youtube)

Officials try to put the pieces together in K’taka’s IMA case

Bengaluru | By Vikram Gopal
UPDATED ON JUN 27, 2019 08:19 AM IST
Documents available with the Registrar of Companies, which were accessed by HT, show the companies Bengaluru-based IMA ran did not earn enough profits to pay back investors. In fact, contrary to Khan’s claim, no companies of his had been registered with the Ministry of Corporate Affairs before 2013, when IMA Private Limited was registered.
The debate around the veracity of India’s official gross domestic product (GDP) estimates has been going on for quite some time now(Illustration: Abhimanyu Sinha)
The debate around the veracity of India’s official gross domestic product (GDP) estimates has been going on for quite some time now(Illustration: Abhimanyu Sinha)

Inconsistencies in MCA-21 data are worrying

Hindustan Times | By HT Correspondent
UPDATED ON MAY 08, 2019 08:47 PM IST
Important economic statistics such as GDP numbers are far too important to be used as cannon fodder in political polemics
Transfer of shares has to be done only in the demat or electronic form, the government has told unlisted companies.(AP File/Representative image)
Transfer of shares has to be done only in the demat or electronic form, the government has told unlisted companies.(AP File/Representative image)

From October 2, unlisted companies to issue new shares in demat form: Government

New Delhi | By Press Trust of India
UPDATED ON SEP 11, 2018 06:35 PM IST
This step has been taken for “further enhancing transparency, investor protection and governance in the corporate sector”, the government said.
There are allegations of involvement of ICICI Bank’s MD and CEO Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.(Reuters File)
There are allegations of involvement of ICICI Bank’s MD and CEO Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis.(Reuters File)

Corporate affairs ministry begins inspecting NuPower, 5 other cos linked to ICICI Bank controversy

Press Trust of India, New Delhi | By Press Trust of India
PUBLISHED ON JUN 13, 2018 02:20 PM IST
The ministry ordered inspection under Section 206(5) of the Companies Act, 2013 on April 23, 2018 with respect to six companies linked to the ICICI Bank controversy, Union Minister P P Chaudhary said .
The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more.(Pradeep Gaur/Mint)
The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more.(Pradeep Gaur/Mint)

Over 2.25 lakh companies may be struck off in FY19 for not filing annual returns

Press Trust of India, New Delhi | By Press Trust of India
UPDATED ON JUN 08, 2018 01:51 PM IST
A task force headed by Finance Secretary Hasmukh Adhia and MCA Secretary Injeti Srinivas was set up in February 2017 to check the menace of shell companies through a coordinated, multi-agency approach.
SHARE
Story Saved