Budget 2012 may make Corporate Social Responsibility mandatory for companies
Posted Date : 27-Jan-2012 , 08:14:18 am | Posted By CASANSAAR
A parliamentary panel has stuck to its position to make it mandatory for companies to spend a portion of net profit on corporate social responsibility (CSR).
The standing committee on finance also decided to take for scrutiny only the new clauses added to the Companies Bill, 2011, after t...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 408
|
 |
Companies Bill: MPs root for compulsory CSR
Posted Date : 25-Jan-2012 , 07:56:54 am | Posted By CASANSAAR
Members of the standing committee of finance are not happy about the fact that corporate social responsibility (CSR) has not been made mandatory is the Companies Bill. Several queries have been raised by the MPs and ministry of corporate affairs (MCA) has been given 15 days to respond
A cruc...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 252
|
|
New Initiatives under MCA 21 System
Posted Date : 24-Jan-2012 , 08:45:07 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has established an added facility under MCA 21, integration with Trade Mark Authority recently. The added feature facilitates professional / public to cross verify Company name before applying for ROC approval. In addition, the XBRL reporting format has been in...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 336
|
|
Standing committee calls MCA officials to discuss Companies Bill
Posted Date : 24-Jan-2012 , 08:33:10 am | Posted By CASANSAAR
The parliamentary standing committee on finance, which had given its suggestions on the Companies Bill, 2011, has called some officials from the ministry of corporate affairs (MCA) on Tuesday to discuss the draft law, said two persons familiar with the matter, who declined to be named.
Th...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 332
|
|
Corporate Affairs Minister Moily backs strong Company Bill
Posted Date : 23-Jan-2012 , 10:03:47 pm | Posted By CASANSAAR
Union Corporate Affairs Minister Dr. M. Veerappa Moily on Monday said the Company Bill is only a skeleton and stressed the need to develop a mechanism, which will help to maintain transparency and fix accountability among corporate firms.
Dr. Moily said effective corporate governance requ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 212
|
|
Companies may have to disclose source of funds coming via preferential allotment of shares
Posted Date : 23-Jan-2012 , 08:41:35 am | Posted By CASANSAAR
The securities market regulator plans to seek details of the source of funds flowing through preferential allotment of shares, a move aimed at deterring promoters from pumping money indirectly through front entities. Two persons familiar with the matter told ET that the Securities and Exchange B...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 269
|
|
Competition Advocacy is a Critical Function of Competition Agencies- Ashok Chawla, Chairman CCI
Posted Date : 20-Jan-2012 , 07:01:02 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) Chairman Shri Ashok Chawla has pointed out that competition advocacy is a critical function of competition agencies as it has a very important role to play in creating ‘competition culture’ in the economies. Addressing a one day long an internati...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 213
|
|
MCA asks for Comments/Suggestions for future XBRL Implementation
Posted Date : 12-Jan-2012 , 09:15:09 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has formed a committee to develop the roadmap for future implementation of XBRL. The committee has its Terms of References as under: A. Identification of class of companies and various reports to be filed in XBRL in Phase-wise manner. B. Development of Tax...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 320
|
|
Tally Launches E-filing In XBRL Format
Posted Date : 11-Jan-2012 , 07:56:08 am | Posted By CASANSAAR
Tally has released its ERP 9 version 3.3 that offers integrated features to comply with the Ministry of Company Affairs (MCA) filing requirements in XBRL format. "MCA has been progressively including all registered companies to file their annual returns in XBRL format. With many businesses in I...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 853
|
|
Committee for drafting the National Competition Policy
Posted Date : 11-Jan-2012 , 07:50:31 am | Posted By CASANSAAR
Government had constituted a Committee for drafting the National Competition Policy with a view to achieve highest sustainable levels of economic growth, entrepreneurship, employment, higher standards of living for citizens, protect economic rights for just, equitable, inclusive and sustainable econ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 230
|
|
Companies Bill may be cleared in Budget session: Veerappa Moily
Posted Date : 04-Jan-2012 , 08:34:06 am | Posted By CASANSAAR
Corporate Affairs Minister Veerappa Moily today said the Companies Bill is expected to be cleared in the forthcoming Budget Session despite its withdrawl after being tabled in the winter session. "Yes, it is likely to be tabled in the Budget session of Parliament," Moily said when asked about t...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 275
|
|
Falling rupee: Ministry breather for companies with forex debt
Posted Date : 02-Jan-2012 , 09:09:24 am | Posted By CASANSAAR
Needn’t show MTM losses on some counts till decade-end; many may choose to write back Sept losses.
Friday’s accounting rule relaxation order from the Union ministry of corporate affairs should again lift the shares of companies that had taken a beating due to high foreign exch...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 418
|
|
Year End Review MCA - MCA Initiatives During 2011
Posted Date : 28-Dec-2011 , 09:36:39 pm | Posted By CASANSAAR
The Indian economy has expanded at a rapid rate during the current decade and the corporate sector has been the biggest contributor in this growth story. While the Ministry of Corporate Affairs is working towards reforming the enabling environment for effective functioning of the corpor...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 278
|
|
CMC Ltd. named among top firms for corporate governance
Posted Date : 28-Dec-2011 , 08:53:04 am | Posted By CASANSAAR
CMC Ltd., a Tata group firm and subsidiary of the country's top software company TCS, has been recognised as one of the top seven companies in India for for adopting good corporate governance practices. In a press release, CMC said today that it has also been conferred by the the Institute of C...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 241
|
|
Co Bill for refund of benefits in case of Satyam type frauds
Posted Date : 26-Dec-2011 , 10:46:46 am | Posted By CASANSAAR
In order to deter chief executives and other senior functionaries from indulging in Satyam type accounting fraud, the Companies Bill 2011 stipulates that such officials will have to refund the remuneration received in case the accounts are re-stated. According to the Companies Bill, which is awai...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 318
|
|
Government withdrew Companies Bill, Pension Fund Regulatory and Development Authority Bill
Posted Date : 22-Dec-2011 , 08:20:13 am | Posted By CASANSAAR
Two important bills slated for passage this session have been yanked back from Parliament for fresh tweaks, in another embarrassing climbdown by a government attempting to convey an impression of decisiveness after being pilloried for months over paralysis in policymaking. The government withdrew...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 536
|
|
Working of SFIO
Posted Date : 20-Dec-2011 , 07:59:48 am | Posted By CASANSAAR
SFIO was established for investigations falling with the following characteristics:
(i) of complex nature with inter -departmental and multi-disciplinary ramifications;
(ii) involving substantial public ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 263
|
|
Enforcement Mechanism Against Corporate Frauds
Posted Date : 20-Dec-2011 , 07:58:13 am | Posted By CASANSAAR
Strengthening of enforce mechanism to deal with corporate frauds is an evolving process as aspects of fraud touch upon many jurisdictions. Based on the experience gained over the experience gained over the years, the existing provisions regarding inspection, enquiry and investigation are proposed to...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 211
|
|
CBI allege MCA, DoT from failing to stop Loop to obtain mobile permits
Posted Date : 16-Dec-2011 , 08:01:44 am | Posted By CASANSAAR
The Central Bureau of Investigation has alleged that the corporate affairs ministry and telecom department failed to stop Loop Telecom from obtaining mobile permits that it was not entitled to. The chargesheet, a document which outlines the police case in detail, filed by the CBI says that the ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 403
|
|
Download Companies Bill as introduced in Lok Sabha on 14.12.2011
Posted Date : 15-Dec-2011 , 08:30:17 am | Posted By CASANSAAR
The Companies Bill, which enhances accountability, introduces the concept of corporate social responsibility and encourages e-governance, was introduced in the Lok Sabha today. The 2011 Bill was introduced by Corporate Affairs Minister M Veerappa Moily after he...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 722
|
|
Ministry to appoint 3 new members to CLB
Posted Date : 12-Dec-2011 , 07:43:35 am | Posted By CASANSAAR
In its bid to institute a strong company law tribunal, the ministry of corporate affairs (MCA) has begun the process to appoint three more members to the Company Law Board to strengthen the quasi-judicial body.
CLB has been running sho...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 484
|
|
MCA tightens warning system to scrutinise companies
Posted Date : 09-Dec-2011 , 08:13:55 am | Posted By CASANSAAR
The Ministry of Corporate Affairs today said it has tightened its Early Warning System (EWS) to scrutinise activities of companies, including those that raised money through initial public offerings.
Balance sheets of companies with a paid-up capital of Rs 50 crore and more and those having...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 519
|
|
National Competition Policy
Posted Date : 08-Dec-2011 , 08:08:46 am | Posted By CASANSAAR
Government has constituted a Committee for drafting the National Competition Policy with a view to achieve highest sustainable levels of economic growth, entrepreneurship, employment, higher standards of living for citizens, protect economic rights for just, equitable, inclusive and sustainable econ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 210
|
|
New Companies Bill may retain contentious provisions
Posted Date : 28-Nov-2011 , 08:41:12 am | Posted By CASANSAAR
The government is likely to retain various contentious provisions in the new Companies Bill, like fixed term for independent directors and rotation of auditors every five years, despite concerns raised by industry
In the final draft of Companies Bill 2011, the Corporate Affairs Ministry i...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 311
|
|
Comprehensive Competition Reforms at Centre State and Sub-State Levels will be Defining Moment in India: Moily
Posted Date : 25-Nov-2011 , 08:18:33 pm | Posted By CASANSAAR
The time has come for all the stakeholders in the growth of Indian economy to come forward and launch a national movement to build a culture of competition so as to promote innovation, entrepreneurship and inclusive growth and to be part in ushering second generation of reforms. This was stated by t...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 216
|
|
Cabinet clears Companies Bill providing for stricter corporate norms
Posted Date : 25-Nov-2011 , 08:41:55 am | Posted By CASANSAAR
Union Cabinet on Thursday approved the Companies Bill. Top official sources said that the bill is likely to be tabled in the current session of Parliament. The Bill provides for stricter corporate governance norms. Once approved by Parliament, it will replace the Companies Act of 1956. Among other t...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 709
|
|
NCLT & NCLAT to replace CLB
Posted Date : 25-Nov-2011 , 08:36:00 am | Posted By CASANSAAR
The Government proposes to set up National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) which will replace Company Law Board, Board for Industrial and Financial Reconstruction and Appellate Authority for Industrial and Financial Reconstruction.Provisions regarding ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 648
|
|
Revised Companies Bill to be taken up by Cabinet today
Posted Date : 24-Nov-2011 , 08:58:06 am | Posted By CASANSAAR
The corporate affairs ministry has yielded to the demands of the Finance Ministry and has delegated the power to deal with cases of insider trading and forward dealings in listed companies to the Securities and Exchange Board of India (Sebi) under the revised Companie...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 384
|
|
PSU banks under MCA scanner for easing loan norms for private companies
Posted Date : 23-Nov-2011 , 08:09:10 am | Posted By CASANSAAR
Some state-run lenders and private companies are under scanner of the corporate affairs ministry after allegations that these firms in collusion with bank officials misappropriated bank loans to generate cash among their subsidiaries and inflate enterprise value. "There were allegations that ba...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 606
|
|
The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL
Posted Date : 23-Nov-2011 , 07:58:50 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is organizing a Webcast on XBRL on Wednesday, the 23rd November, 2011 at 4:00 PM on XBRL. Joint Secretary, Ministry of Corporate Affairs (MCA) Shri Avinash Srivastava will address the Webcast. You are cordially invited to join the Webcast by logging in at ...
Continue Reading...
Category :
Corporate Law |
Comments :
0 | Hits : 358
|
|
|
