Sebi to rewrite rules on CEO compensation, pay committee may become compulsory
Posted Date : 08-Nov-2013 , 09:28:27 am | Posted By CASANSAAR
Excessive chief executive salaries may get reined in soon, with India's capitalmarket regulator planning to rewrite the rules on compensation.The Securities and Exchange Board of India, or Sebi, is considering a proposal to make it mandatory for companies to get remuneration packages of promote...
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Date Extended for Giving Suggestions for the 3rd & 4th Tranche of Draft Rules Under the Companies Act 2013
Posted Date : 06-Nov-2013 , 06:42:16 pm | Posted By CASANSAAR
The last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs regarding the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013 has been extended to the 10th of this month. In these 2 phases, Draft Rules have been framed on depo...
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Corporate Law |
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Companies under scanner in NSEL case: Sachin Pilot
Posted Date : 06-Nov-2013 , 08:41:27 am | Posted By CASANSAAR
Corporate affairs minister Sachin Pilot on Tuesday said certain entities are being scrutinized to check whether they have violated any laws in the NSEL case.
National Spot Exchange (NSEL), promoted by Jignesh Shah-led FTIL, is grappling with a Rs 5,600-crore payment crisis....
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Time Period Ends for Giving Suggestions for the 3rd & 4th Tranche of Draft Rules Under the Companies Act 2013
Posted Date : 05-Nov-2013 , 06:34:49 pm | Posted By CASANSAAR
Today i.e. November 5, 2013 was the last date for the public at large for giving suggestions/ comments to the Ministry of Corporate Affairs for the 3rd and 4th tranche of Draft Rules being framed under the Companies Act, 2013. In these 2 phases, Draft Rules have been framed on deposits, SFIO, Nation...
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Corporate Law |
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MCA 21 Portal Crosses the Milestone of 1 Lakh Filings on One Single Day
Posted Date : 29-Oct-2013 , 07:18:15 pm | Posted By CASANSAAR
The MCA 21 portal of the Ministry of Corporate Affairs crossed a significant milestone of 1,00,000 filings on one single day on 26th October 2013, surpassing the previous best of 88,119 filings last year (on 21/11/2012). This has been made possible by the efforts of the Ministry in scaling up the se...
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Corporate Law |
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Suggestions invited for the 4th Tranche of Draft Rules under the Companies Act 2013 This Phase Covers the IEPF Authority
Posted Date : 28-Oct-2013 , 04:24:48 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has invited suggestions/ comments for the 4th tranche of Draft Rules being framed under the Companies Act, 2013. November 5, 2013 has been fixed as the last date for submission of suggestions/ comments. In this phase Draft Rules have been framed for the creation of ...
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Corporate Law |
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FinMin proposes rule to curb impact of paper fluctuations on markets
Posted Date : 24-Oct-2013 , 08:16:11 am | Posted By CASANSAAR
The finance ministry proposes to have a legislative frame work for curbing the impact of overseas market disruptions by Indian entities and securities listed abroad on the Indian market.
According to officials, the legislative framework has to be worked out within the new Companies Bill. The m...
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Date Extended for Giving Suggestions on the 3rd Tranche of Draft Rules Being Framed under the Companies Act 2013
Posted Date : 23-Oct-2013 , 06:13:15 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has extended by 4 days the last date for accepting suggestions/ comments for the 3rd tranche of Draft Rules being framed under the Companies Act, 2013. Now, such suggestions/ comments can be given till 5th November 2013. In this phase, following 3 Chapters have been...
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Corporate Law |
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Govt issues draft rules for National Financial Reporting Authority (NFRA)
Posted Date : 22-Oct-2013 , 04:00:47 pm | Posted By CASANSAAR
Moving ahead with implementation of the new companies law, the government on Tuesday issued draft rules for the proposed National Financial Reporting Authority.
Besides NFRA, draft rules relate to Serious Fraud Investigation Office (SFIO) and acceptance of deposits by companies have been re...
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Corporate Law |
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UP government withdraws entertainment tax exemption to F1
Posted Date : 22-Oct-2013 , 08:08:04 am | Posted By CASANSAAR
Four days before the third edition of India's F1 race gets rolling at the Buddh International Circuit (BIC), the Uttar Pradesh government on Monday sought the Supreme Court's permission to withdraw its 2011 decision to grant entertainment tax exemption to Indian Grand Prix&n...
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Corporate Law |
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Corporate Affairs Ministry, Sebi officials to discuss Companies Act on October 24
Posted Date : 21-Oct-2013 , 08:23:13 am | Posted By CASANSAAR
Officials of the Ministry of Corporate Affairs (MCA) and market watchdog Securities and Exchange Board of India (Sebi) will hold discussions this week on bringing regulations for listed firms in line with provisions of the new Companies Act.
A government official said the ministry is scheduled to h...
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Corporate Law |
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Indian companies likely to shift to IFRS from April 2015
Posted Date : 20-Oct-2013 , 09:06:00 am | Posted By CASANSAAR
After the enactment of the Companies Act, 2013, the ministry of corporate affairs has now shifted its focus on rolling out international reporting standards for Indian companies which were to be implemented beginning April 1, 2011.
According to the draft plan, the ministry wants to implemen...
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Last Date for Submitting Suggestions for the 2nd Tranche of Draft Rules under the Companies Act 2013 Extended by 4 Days
Posted Date : 17-Oct-2013 , 08:07:54 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has extended by 4 days the last date for submission of suggestions/ comments for the 2nd tranche of Draft Rules being framed under the Companies Act, 2013. Earlier, the last date was fixed as 19th of this month but now it has been extended to 23rd October 2013. Afte...
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Corporate Law |
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Total Number of Companies in the Official Registry
Posted Date : 09-Oct-2013 , 07:10:49 pm | Posted By CASANSAAR
As per the records of the Ministry of Corporate Affairs there were a total of 13.45 lakh companies in the official Registry as on 31st August 2013. However, out of these as many as 2.57 lakh companies have been closed and there are 30,127 companies that are in the process of being closed. Also, as m...
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Corporate Law |
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Companies Act draft rules feedback deadline extended
Posted Date : 08-Oct-2013 , 08:41:04 pm | Posted By CASANSAAR
The government has extended the deadline till Thursday for providing feedback on the first set of draft norms for the new Companies Act.
The Corporate Affairs Ministry is in the process of framing norms for new legislation that replaces the nearly six-decade old law governi...
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Corporate Law |
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Directors' fees pose transfer pricing challenge for companies
Posted Date : 26-Sep-2013 , 08:15:14 am | Posted By CASANSAAR
India Inc, which has to comply with domestic transfer pricing provisions for the first time since the norms were introduced by the Finance Act, 2012, faces compliance challenges. The top-most concern is substantiating that directors' fees paid by companies are at an 'arm's length' — which...
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Corporate Law |
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Promulgation of the Securities Laws (Amendment) Second Ordinance 2013
Posted Date : 20-Sep-2013 , 07:48:24 pm | Posted By CASANSAAR
The President was pleased to promulgate the Securities Laws (Amendment) Second Ordinance, 2013 (No. of 2013) under clause (1) of the Article 123 of the Constitution on September 16, 2013. This was consequent to the approval of the Cabinet, which met on September 12, 2013, to keep in force the amendm...
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Corporate Law |
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Govt to release next set of Companies Act draft rules tomorrow
Posted Date : 19-Sep-2013 , 05:50:32 pm | Posted By CASANSAAR
The government is expected to come out tomorrow with the second set of draft rules for implementation of the new Companies Act, that replaces nearly six-decades old legislation governing corporates.
The Corporate Affairs Ministry, on September 9, came out with the first tranche of draft r...
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Corporate Law |
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Rotation of Auditors: Inconsistency between new Companies Act and Draft Rules
Posted Date : 13-Sep-2013 , 08:42:54 am | Posted By CASANSAAR
The new Companies Act has enhanced scope of auditors by mandatinginternal audit for such class of companies as may be specified, while by imposing civil liability on the auditors, the Act requires auditors to be more cautious and careful while auditing
Following the trend in th...
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Ministry of Corporate Affairs issues Notification for Commencement of 98 Sections of the New Act
Posted Date : 12-Sep-2013 , 08:41:48 pm | Posted By CASANSAAR
The Companies Act, 2013 as passed by the Parliament and assented to by the President of India is available on the Ministry of Corporate Affairs’ website at www.mca.gov.in. The Ministry has initiated the process to implement the new Act in consultation with concerned regulatory authoritie...
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Competition Commission of India to investigate the matter involving Delhi Development Authority on alleged violation of Competition Act
Posted Date : 11-Sep-2013 , 08:03:51 pm | Posted By CASANSAAR
Competition Commission of India (CCI) has ordered investigation by its Director General in the matter involving Delhi Development Authority (DDA) in respect of allegations regarding violation of provisions of Competition Act by DDA. The order has been issued under Section 26(1) of the Competition Ac...
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Draft rules of Companies law provide clarity on auditor rotation: Experts
Posted Date : 10-Sep-2013 , 07:55:58 am | Posted By CASANSAAR
The draft rules released the government for the new companies legislation provide clarifications on rotation of auditors but ambiguity persists on eligibility and appointment of internal auditors, say experts. Government today issued the first tranche of draft rules, covering 16 chapters of the...
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Govt releases draft rules for New Companies Act & Invite Suggestions
Posted Date : 09-Sep-2013 , 04:01:03 pm | Posted By CASANSAAR
The draft Rules for following 16 chaptersunder the Companies Act 2013 is made live for public comments in 1st phase. The last date of receiving comments on these rules is 08/10/2013:
Chapter I – Preliminary
Chapter II – Incorporation of Com...
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Corporate Law |
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One person companies to eliminate middlemen: Sachin Pilot
Posted Date : 08-Sep-2013 , 07:30:40 pm | Posted By CASANSAAR
Small entrepreneurs can now set up 'one person companies' to directly access target markets rather than being forced to share their profits with middlemen,Corporate Affairs Minister Sachin Pilot has said. With the new Companies Act, 2013 coming into force, the 'one person company...
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Corporate Social Responsibility and Sustainability Provision for the Central Public Sector Enterprises
Posted Date : 03-Sep-2013 , 08:35:34 pm | Posted By CASANSAAR
The Department of Public Enterprises (DPE) has issued guidelines on Corporate Social Responsibility (CSR) and Sustainability for Central Public Sector Enterprises (CPSEs) in April, 2013 wherein each CPSE shall, with the approval of its Board of Directors, make a budgetary allocation for CSR and Sust...
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Corporate Law |
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Companies Bill: New legislation to govern firms enacted
Posted Date : 03-Sep-2013 , 08:13:12 am | Posted By CASANSAAR
The landmark Companies Bill has been enacted, replacing the nearly six-decade old regulations that governed corporates in the country. After being approved by Parliament last month and receiving assent from PresidentPranab Mukherjee, the new laws have been now Gazetted. "The historic ...
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MCA plans social media initiatives to create more awareness
Posted Date : 02-Sep-2013 , 08:21:59 am | Posted By CASANSAAR
To reach out and create more awareness among the general public, the Corporate Affairs Ministry plans to unleash online initiatives by tapping Twitter, Facebook and other avenues.
The proposal also comes against the backdrop of rising incidents of common man getting duped by fraudulent scheme...
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Companies Act, 2013: Will Auditors become a vanishing breed?
Posted Date : 31-Aug-2013 , 09:41:27 am | Posted By CASANSAAR
Soon after the Rajya Sabha passed the new Companies Bill, corporate affairs ministerSachin Pilot hogged the limelight by asserting that the basic intent of the new law was lesser regulation, more compliance and to ignite the entrepreneurial spirit by offering "freedom" to entrepreneurs.What's i...
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Companies Act, 2013 (Act No.18 of 2013) has been assented by President of India on August 29, 2013
Posted Date : 30-Aug-2013 , 04:48:01 pm | Posted By CASANSAAR
COMPANIES ACT, 2013 (ACT NO.18 OF 2013) HAS BEEN ASSENTED BY PRESIDENT OF INDIA ON AUGUST 29, 2013....
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Probe into affairs of 125 companies for fraud: Govt
Posted Date : 30-Aug-2013 , 08:47:57 am | Posted By CASANSAAR
The Corporate Affairs Ministry today said it has ordered investigations into the affairs of 125 companies for allegedly defrauding investors by offering high returns in the last three years and the current year.
Corporate Affairs Minister Sachin Pilot, while replying to a question in...
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