Compliance with the Requirements of Corporate Governance
Posted Date : 17-Dec-2012 , 09:22:44 pm | Posted By CASANSAAR
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 Sa...
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Corporate Law |
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Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill
Posted Date : 10-Dec-2012 , 09:55:53 pm | Posted By CASANSAAR
Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibilities (CSR) policy and in case of failure, to specify the reasons for not spending...
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Corporate Law |
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Govt introduces amendment bill to Competition Act
Posted Date : 10-Dec-2012 , 09:55:12 pm | Posted By CASANSAAR
The government today introduced in Parliament the Bill to amend the Competition Act which, among other things, will require theCompetition Commission to decide on corporate mergers within 180 days.
Once in place, the Bill will allow the Competition Commission of India (CCI) C...
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Corporate Law |
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MCA 21 Project
Posted Date : 10-Dec-2012 , 09:51:04 pm | Posted By CASANSAAR
The Government is implementing an e-governance initiative called MCA 21 Project to ensure the efficiency of the core services regarding company affairs. Giving this information in written reply to a question in the Parliament, Shri Sachin Pilot, Minister of Corporate Affairs, said that MCA 21 Projec...
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Corporate Law |
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Policy Document on Corporate Governance
Posted Date : 04-Dec-2012 , 08:49:39 pm | Posted By CASANSAAR
Ministry of Corporate Affairs had constituted a committee to formulate a Policy document on Corporate Governance under the Chairmanship of Shri Adi Godrej on 07.03.2012.
Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affa...
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Corporate Law |
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No objection from Cos on CSR norms in Companies Bill: Govt
Posted Date : 26-Nov-2012 , 11:12:11 pm | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has not received any objection from the companies to the provision of spending of at least 2 per cent of net profit on corporate social responsibility (CSR) activities in the Companies Bill."The ministry has not received any communicat...
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Corporate Law |
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Infosys bags about $50 million deal from MCA to implement its e-governance solution
Posted Date : 09-Nov-2012 , 08:18:19 am | Posted By CASANSAAR
Infosys has won a five-year contract from Ministry of Corporate Affairs worth about USD 50 million to implement its e-governance solution MCA 21 v2. The MCA 21 v2 is a continuation of the existing MCA 21 project. "The company will provide services, applicatio...
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Corporate Law |
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Can't check every company filing: MCA
Posted Date : 08-Nov-2012 , 08:16:05 am | Posted By CASANSAAR
The Corporate Affairs Ministry has said that it is "neither intended nor feasible" for the Registrar of Companies to check content of every filing made by the firms.
Noting that there are more than eight lakh companies registered with various Registrars of Companies (RoCs) in the ...
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Corporate Law |
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CCI finds no contravention of Competition Act by Yash Raj Films
Posted Date : 07-Nov-2012 , 08:46:40 am | Posted By CASANSAAR
The Competition Commission of India has held that there is no contravention of the provisions of the Act by the alleged agreement between Yash Raj Films Private Limited and its various associated enterprises. The Competition Commission of India passed its order in the case filed by Ajay Devgn Films ...
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Corporate Law |
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MCA for strong measures to check misuse of FDI money
Posted Date : 05-Nov-2012 , 08:12:05 am | Posted By CASANSAAR
The Corporate Affairs Ministry has asked the Finance Ministry for strong measures to keep a tab on utilisation of money coming through foreign direct investment (FDI) route, amid instances of possible misuse. The development comes at a time when the gover...
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Corporate Law |
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MCA asks greater disclosures from firms eying India
Posted Date : 02-Nov-2012 , 10:27:52 am | Posted By CASANSAAR
Government sources have indicated that the MCA has written to the FIPB on possible violations of FDI norms by foreign companies, reports Ronojoy Banerjee of CNBC-TV18.
An opinion from the MCA is sought when a matter is about to be put up before the FIPB for approval. It is known that in the...
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Corporate Law |
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List of enhancements in MCA21 XBRL validation tool
Posted Date : 01-Nov-2012 , 08:36:29 am | Posted By CASANSAAR
The following enhancements have been released in the validation tool. These enhancements do not impact the instancedocuments which have already been filed on the MCA21 portal. This version of the tool needs to be downloaded by only those stakeholders who are facing the below ment...
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Corporate Law |
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Pilot says MCA will look into all wrongdoings without prejudice
Posted Date : 30-Oct-2012 , 08:08:01 am | Posted By CASANSAAR
As allegations over corruption against some stalwarts in political arena fly thick and fast, newly appointed Corporate Affairs Minister Sachin Pilot today said his ministry will deal firmly against all irregularities and wrongdoings without any prejudice.
However, he maintained that he does...
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Corporate Law |
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0 | Hits : 709
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2 Lakh Companies' financial statements irregular: MCA
Posted Date : 19-Oct-2012 , 11:37:33 pm | Posted By CASANSAAR
Nearly two lakh companies registered in the country have been found to be irregular in furnishing their financial statements and other filings, according to the Ministry of Corporate Affairs (MCA).
The number of new companies getting registered in India has been rising for the past few year...
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Corporate Law |
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Quality of xBRL Filing Certified by Professional Members
Posted Date : 19-Oct-2012 , 11:04:39 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has pressed upon for the need to improve the quality of xBRL (Extensible Business Reporting Language) filings. In a letter sent to the Presidents of the Institute of Chartered Accountants of India (ICAI) and the Institute of Company Secretary in India (ICSI) the min...
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Corporate Law |
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MCA finds inaccuracies in cos' financial disclosures
Posted Date : 19-Oct-2012 , 07:43:22 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has raised concerns about "misleading" inaccuracies in financial disclosures made by some companies in filings made through the new reporting format XBRL.Concerned over the inaccuracies, that were noticed during a random scrutiny, the Ministry has flagged the ...
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Corporate Law |
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MCA begins rule-making for new Companies law
Posted Date : 19-Oct-2012 , 07:22:41 am | Posted By CASANSAAR
With the cabinet clearing the modified Companies Bill, activity has gathered pace in the ministry of corporate affairs (MCA). The ministry has appointed an advisory group to verify and oversee the rule making process of the new Companies Act. “An expert group comprising 7-8 people has been for...
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Corporate Law |
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Peak Filing Preparation 2012 - MCA 21
Posted Date : 18-Oct-2012 , 08:01:21 am | Posted By CASANSAAR
ANNOUNCEMENTSub: Peak Filing Preparation 2012 - MCA 21
As you are aware it is time of peak filing of Balance Sheet & Annual Return under the Companies Act, 1956.
In order to ensure smooth filing and to avoid last minute rush, the Ministry of Corporate Affairs vide its General Circular No...
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Corporate Law |
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Ministry of Corporate Affairs - XBRL filings
Posted Date : 17-Oct-2012 , 07:35:10 am | Posted By CASANSAAR
MCA has released final version of the MCA XBRL Validation Tool and XBRL Filing Manual V2.0. Final Validation Tool and subsequent XBRL filings of financial statements for F.Y. 2011-12 have been enabled on MCA website with effect from 14.10.2012. Based on the feedback received from various stakeh...
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Corporate Law |
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MCA likely to tighten fund raising norms by unlisted companies
Posted Date : 16-Oct-2012 , 07:55:32 am | Posted By CASANSAAR
Taking a leaf out of the Sahara case, the Corporate Affairs Ministry is contemplating to tighten fund raising norms from the public by unlisted companies.
The Ministry, according to an official, is of the view that an unlisted company should not be allowed to raise funds either through priv...
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Corporate Law |
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MCA discontinues its Front offices in 4 Metro Cities
Posted Date : 11-Oct-2012 , 07:30:09 am | Posted By CASANSAAR
MCA Front offices situated at Delhi , Chennai , Mumbai and Kolkata are being discontinued with effect from Monday, the 8th of October, 2012 , and hence, will not be available to offer any assistance to MCA stakeholders. Kindly plan your activities accordingly.
Helpdesk Services are ...
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Corporate Law |
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CCI emphasises the need for encouraging Competitive practices in public procurement
Posted Date : 10-Oct-2012 , 09:21:17 pm | Posted By CASANSAAR
The Financial Advisors and key Government officers handling the procurement aspects in the Govt. have been advised to encourage competitive practices in public procurement and framing competitive coherent govt. policies. Inaugurating a Conference on “Curbing Deficit through Effective Competiti...
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Corporate Law |
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Dr.M.Veerappa Moily Details MCA Initiatives at EEC 2012
Posted Date : 09-Oct-2012 , 09:04:25 pm | Posted By CASANSAAR
Union Minister of Corporate Affairs Dr. M.Veerappa Moily today detailed the recent initiatives taken by his ministry for attaining an all – inclusive role of addressing a vide sweep of functions – Corporate Governance Reforms and the Emerging Legal Framework with a vision to facilitate c...
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Corporate Law |
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Govt amends rules to allow IDR conversion into shares
Posted Date : 09-Oct-2012 , 08:19:26 am | Posted By CASANSAAR
Government has amended the rules governing Indian Depository Receipts issued here by foreign companies, after financial regulators RBI and Sebi allowed part-conversion of securities into equity shares by investors.
The amendment, notified by the Ministry of Corporate Affairs (MCA) in the Co...
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Corporate Law |
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Cabinet approves amendment of the Competition Act, 2002
Posted Date : 05-Oct-2012 , 08:23:55 am | Posted By CASANSAAR
The Union Cabinet has approved the proposal of the Ministry of Corporate Affairs to further amend the Competition Act, 2002, with a view to fine tune it and to meet the present day needs in the field of competition, in the light of the experiences gained in the actual working of the Competition Comm...
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Corporate Law |
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Cabinet approves Amendments to the Companies Bill, 2011
Posted Date : 05-Oct-2012 , 08:23:23 am | Posted By CASANSAAR
The Union Cabinet today approved the proposal to make official amendments to the Companies Bill, 2011. The Companies Bill, 2011, on its enactment, would allow the country to have a modern legislation for growth and regulation of corporate sector in India. The existing statute for regulation of ...
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Corporate Law |
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MCA urges to expedite filing of Balance Sheet & Annual Return
Posted Date : 03-Oct-2012 , 11:05:53 pm | Posted By CASANSAAR
GOVERNMENT OF INDIAMINISTRY OF CORPORATE AFFAIRS
DEAR CORPORATES,
The Ministry issued General Circular No.30/2012 Dated 28.09.2012, In order to ensure smooth filing and to avoid last minute rush, the due date of filing of e-forms 23AC(Non-XBRL) and 23ACA (Non XBRL...
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Corporate Law |
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Due date of filing of e-forms 23AC (Non-XBRL) or 23ACA (Non-XBRL) as per new schedule VI is now further extended
Posted Date : 29-Sep-2012 , 11:05:15 am | Posted By CASANSAAR
General Circular No.30/2012, Dated: – 28th September, 2012
The Ministry has issued general circulars No. 21/2012 dated 28/09/12 and No. 28/2012 dated 03/09/12 extending time for filing e-form 23AC (Non-XBRL) and 23ACA (Non-XBRL) up to 15/10/12 or within 30 days from the date o...
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Corporate Law |
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MCA 21 Second Cycle to Benefit all the Companies and LLPS Registered in India . Dr. M.Veerappa Moily
Posted Date : 26-Sep-2012 , 09:24:09 pm | Posted By CASANSAAR
The MCA21 is considered as one of the most successful mission mode project (MMP) having implemented many innovations viz. internet payments, credit card payment, electronic issuance of stamp paper (e-stamp), use of adobe e-forms, end-to-end electronic work flow and digital signature (DSC) based elec...
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Corporate Law |
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0 | Hits : 775
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Govt proposing norms for independent directors at CPSEs
Posted Date : 26-Sep-2012 , 08:16:12 am | Posted By CASANSAAR
To improve corporate governance in state-owned companies, the Department of Public Enterprises (DPE) is proposing norms for independent directors that will define their roles and responsibilities.At present, there are no such guidelines for non-official directors who are being appointed on boards of...
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Corporate Law |
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