MCA allows CSR Contributions towards PM CARES Fund
Posted Date : 28-May-2020 , 08:45:18 am | Posted By CASANSAAR
The government has made the Prime Minister’s Citizen Assistance and Relief in Emergency Situations Fund (PM CARES Fund) eligible to receive contributions from corporate social responsibility (CSR) corpuses of corporates.
The Ministry of Corporate Affairs (MCA) has allowed the CSR contributi...
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NCLAT sets aside NCLT order on making MCA party in all IBC cases
Posted Date : 26-May-2020 , 10:05:14 am | Posted By CASANSAAR
In a relief to the Ministry of Corporate Affairs (MCA), the National Company Law Appellate Tribunal (NCLAT) set aside an order of the Principal Bench of the National Company Law Tribunal (NCLT) which had directed that the MCA be made a party in all cases filed under the Section 7, 9, and 10 of the I...
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MCA extends expiration of names reserved for company incorporation
Posted Date : 22-May-2020 , 09:38:15 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) further extended the expiration of names reserved for company incorporation by 20 days from May 31 for those reserved names that were expiring between May 15-31.
Similarly, the expiration of names reserved for change of name by existing companies was extend...
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MCA allows companies to hold Annual General Meetings through Video Conferencing
Posted Date : 06-May-2020 , 09:33:16 am | Posted By CASANSAAR
Ministry of Corporate Affairs has allowed companies to hold Annual General Meetings (AGMs) through Video Conference or other audio visual means. The decision has been taken on account of need for continuous adherence to the social distancing norms and restrictions placed on movement of persons in th...
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MCA extends period for filing of names for companies and re-submission of forms
Posted Date : 24-Apr-2020 , 10:55:47 am | Posted By CASANSAAR
MCA extends period for filing of names for companies and re-submission of forms....
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MCA to offer faceless adjudication of company law breaches
Posted Date : 04-Apr-2020 , 11:16:37 am | Posted By CASANSAAR
The ministry of corporate affairs will take a leaf out of the Income Tax department’s book to offer faceless adjudication of specified company law offences to enable social distancing as well as eliminate bureaucratic discretion.
The ministry will upgrade its online services to companies of...
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MCA gives an opportunity to regularise deactivated DINs without fee
Posted Date : 02-Apr-2020 , 11:21:00 am | Posted By CASANSAAR
Provides six-month window for firms to become ‘ACTIVE Compliant’
Close on the heels of introducing a ‘fresh start scheme’, the Ministry of Corporate Affairs (MCA) has given a one-time opportunity for ‘ACTIVE non-compliant’ companies to become compliant without ...
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MCA introduces Companies Fresh Start Scheme 2020 and Revises LLP Settlement Scheme 2020
Posted Date : 31-Mar-2020 , 10:15:58 am | Posted By CASANSAAR
In pursuance of the Government of India’s efforts to provide relief to law abiding companies and Limited Liability Partnerships (LLPs) in the wake of COVID 19, the Ministry of Corporate Affairs, has introduced the “Companies Fresh Start Scheme, 2020” and revised the “LLP Sett...
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Date extended for public comments on consultation paper on enhancement of Audit Independence and Accountability
Posted Date : 29-Feb-2020 , 08:31:37 am | Posted By CASANSAAR
In response to requests received from various quarters and stakeholders, the Ministry has decided to extend the last date for submission of public comments on the “consultation paper on enhancement of Audit Independence and Accountability” upto 15th March, 2020.
It is requ...
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Filing of forms by IRP, RP or Liquidator in Registry (MCA21)
Posted Date : 19-Feb-2020 , 09:25:10 am | Posted By CASANSAAR
MCA Circular regarding Filing of forms in the Registry (MCA-21) by the Insolvency Professional (Interim Resolution Professional (IRP) or Resolution Professional (RP) or Liquidator) appointed under Insolvency Bankruptcy Code, 2016 (IBC, 2016).
Watch This Video,,,,
https://youtu.be/MRzpTTrDzQ4
...
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MCA seeks views on change in laws to hold auditors more accountable
Posted Date : 18-Feb-2020 , 10:06:36 am | Posted By CASANSAAR
Drawing lessons from the alleged role of auditors and their failure to flag irregularities at companies such as Infrastructure Leasing & Financial Services (IL&FS), the Ministry of Corporate Affairs (MCA) has floated a consultation paper seeking industry comments on various aspects of auditi...
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MCA seeks opinion on proposed Audit curbs
Posted Date : 10-Feb-2020 , 10:22:13 am | Posted By CASANSAAR
The government has sought opinion on restricting the number of audits by an audit firm and its partners following concerns in a number of cases. Some of the proposals could have a major impact on the Big Four.
The Ministry of Corporate Affairs (MCA) has put out a paper seeking suggestions on issu...
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0 | Hits : 796
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MCA notifies rules for winding up of Companies under Companies Act
Posted Date : 29-Jan-2020 , 10:49:38 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) on Tuesday notified rules for winding up of companies, making it easier for smaller firms to wind up businesses without taking approval.
The rules have provided summary procedures for liquidation of companies with asset size of Rs 1 crore and which ha...
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MCA |
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MCA plans to introduce frequent filing for large unlisted companies
Posted Date : 28-Dec-2019 , 09:43:12 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) is planning an amendment to the Companies Act that will mandate large unlisted companies to file as frequently as listed ones, The Times of India reported.
The companies are, at present, required to file annual reports.Moneycontrol could not independently v...
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Govt moves NCLAT against NCLT order making MCA party in all IBC cases
Posted Date : 06-Dec-2019 , 10:18:29 am | Posted By CASANSAAR
The government has moved the National Company Law Appellate Tribunal (NCLAT) against an order passed by NCLT to make the Ministry of Corporate Affairs a party in all applications filed under the Insolvency and Bankruptcy Code as well as the Companies Act.
In a petition moved through the Ministry ...
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MCA |
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0 | Hits : 235
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18,782 cases filed under Insolvency & Bankruptcy Code
Posted Date : 03-Dec-2019 , 04:43:28 pm | Posted By CASANSAAR
As of 30th June 2019, a total of 18,782 cases have been filed under Insolvency and Bankruptcy Code (IBC), 2016, of which 2,173 cases have been admitted under IBC. Out of 2,173 admitted cases, 1,274 cases were ongoing under different stages of the resolution process, 129 cases have resulted in resolu...
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0 | Hits : 170
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MCA launches databank of independent directors
Posted Date : 03-Dec-2019 , 09:55:41 am | Posted By CASANSAAR
The Ministry of Corporates Affairs (MCA) here on Monday launched the databank of independent directors with an aim to strengthen the institution of independent directors under the Companies Act.
The databank, launched by Injeti Srinivas, MCA Secretary, can be accessed at "www.mca.gov.in"...
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MCA initiatives to reduce cost of compliance by various small Private Ltd. Cos
Posted Date : 26-Nov-2019 , 10:00:32 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has been taking various initiatives on continuous basis to provide less stringent regulations, including measures with respect to filing requirements for small companies, One Person Companies (OPCs) and start-ups. This was stated by Shri Anurag Thakur, Union M...
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MCA |
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0 | Hits : 926
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NBFCs can go for insolvency resolution post MCA notification
Posted Date : 19-Nov-2019 , 10:23:43 am | Posted By CASANSAAR
The Reserve Bank can now direct resolution of non-banking financial companies NBFCsfor with assets worth at least Rs 500 crore under the insolvency law to help in addressing defaulting cases in the Non-Banking Financial Companies sector, according to a ministry of corporate affairs (MCA) notificatio...
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MCA notifies Insolvency and Bankruptcy Rules, 2019 for non-bank financial services providers
Posted Date : 15-Nov-2019 , 04:53:44 pm | Posted By CASANSAAR
Ministry of Corporate Affairs (MCA) has notified the Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 (Rules) today to provide a generic framework for insolvency and liquidation proceedings of syst...
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MCA recommends fraud probe against DHFL
Posted Date : 04-Nov-2019 , 10:07:02 am | Posted By CASANSAAR
In mounting trouble for the debt ridden Dewan Housing Finance Ltd (DHFL) the Ministry of Corporate Affairs (MCA) has recommended fraud probe against the Non Banking Finance Company (NBFC), said a government official.
This comes after a report by Registrar of Companies (ROC), Mumbai's initial ...
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MCA asks disqualified directors to ensure compliance or face action
Posted Date : 02-Nov-2019 , 09:33:41 am | Posted By CASANSAAR
The corporate affairs ministry has asked disqualified directors to file their pending statutory returns and ensure compliance or else face regulatory action. As part of larger crackdown on companies suspected to be shell entities, the ministry had disqualified many individuals from holding directors...
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MCA reviews list of economic offenders, names sent to home ministry for action
Posted Date : 26-Oct-2019 , 10:20:50 am | Posted By CASANSAAR
Ministry of Corporate Affairs (MCA) has recently reviewed a list of individuals and corporates under the scanner over potential cases of financial irregularities. The ministry has referred over 80 names under various categories of look out circulars (LOC) after the review, government sources said.
...
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Online proficiency self-assessment test for independent directors from Dec
Posted Date : 23-Oct-2019 , 10:35:40 am | Posted By CASANSAAR
All independent directors will soon have to take an “online proficiency self-assessment test” before they are appointed to company boards, according to an amendment to the Companies Act notified by the Ministry of Corporate Affairs (MCA) on Tuesday. This rule will come into effect from D...
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NCLT allows MCA to appoint statutory auditors to IFIN
Posted Date : 23-Oct-2019 , 10:21:18 am | Posted By CASANSAAR
The National Company Law Tribunal (NCLT) has allowed the ministry of corporate affairs (MCA) to appoint Mukund M Chitale & Co the statutory auditor for IL&FS Financial Services (IFIN).
IFIN, in its board meeting, had appointed Mukund M Chitale & Co the statutory auditor for the compan...
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MCA |
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MCA amends rules to allow Companies to comply with KYC norms
Posted Date : 22-Oct-2019 , 10:28:53 am | Posted By CASANSAAR
In a relief to companies that had been rendered inactive after they failed to comply with the know-your-customer rules, the government has given them an option to change their status and become active.
The Ministry of Corporate Affairs (MCA) has amended rules to allow such companies to make a fil...
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DIN Deactivated due to non-filing of DIR-3 KYC - MCA
Posted Date : 16-Oct-2019 , 10:46:48 am | Posted By CASANSAAR
Please note that the DINs which have not complied with the requirement of filing DIR-3 KYC have since been marked as ‘Deactivated due to non-filing of DIR-3 KYC’. Such DINs are not allowed to be used for filing any eforms on MCA21 portal.
In case the present status of your DIN is &lsq...
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MCA plans to amend CA Act to remove conflict of interest in Audits
Posted Date : 07-Oct-2019 , 08:08:56 am | Posted By CASANSAAR
The Ministry of Corporate Affairs is planning to amend the Chartered Accountants Act to build disciplinary mechanisms for removing possible conflicts of interest between audit firms and companies they audit.
The government is also looking at ways to address the gaps in the law with respect ...
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MCA sets up expert committee for valuation professionals
Posted Date : 03-Sep-2019 , 09:44:47 am | Posted By CASANSAAR
The Corporate Affairs Ministry (MCA) has set up a eight member 'Committee of Experts' to examine the need for an institutional framework for regulation and development of valuation professionals. The Panel would be headed by IBBI Chairman M S Sahoo.
It would also cover the regulatory arch...
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MCA |
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0 | Hits : 1645
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MCA panel moots CSR expenditure as tax-deductible
Posted Date : 14-Aug-2019 , 10:46:25 am | Posted By CASANSAAR
In a sweeping recommendation, a high-level committee led by Corporate Affairs Secretary Injeti Srinivas has proposed to make corporate social responsibility (CSR) expenditure tax-deductible and allow companies to carry forward the unspent balance for a period of 3-5 years.
This if accepted ...
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