MCA notifies new accounting standard for foreign currency transactions
Posted Date : 12-May-2025 , 08:03:35 am | Posted By CASANSAAR
The ministry of corporate affairs (MCA) has notified Companies (Indian Accounting Standards) Amendment Rules 2025, bringing changes primarily to the Ind AS 21, a standard that mandates companies to estimate the spot exchange rate when the “exchangeability” between two currencies is missi...
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MCA asks Cost Auditors to tap AI to better detect inefficiency
Posted Date : 02-Jan-2025 , 03:05:30 pm | Posted By CASANSAAR
MCA asks Cost Auditors to tap AI to better detect inefficiency
The corporate affairs ministry has directed cost auditors to focus on potential risk areas, assess cost inefficiencies' impact on financial health, and utilize AI to identify unnoticed patterns or anomalies. Cost records are...
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MCA offers e-adjudication, e-consultation to boost stakeholder confidence
Posted Date : 12-Dec-2024 , 11:26:44 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has introduced e-adjudication and e-consultation platforms to streamline legal proceedings and foster a more business-friendly regulatory environment, a senior official said on Wednesday.
Addressing the ASSOCHAM-ACCA Global Summit on Responsible Corporate G...
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MCA explores Disciplinary Action against CA, CS in 500 Chinese Companies
Posted Date : 10-Aug-2024 , 08:45:55 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has asked the Institute of Chartered Accountants of India (ICAI) and Institute of Company Secretaries of India to look into instances where action against their members may be merited. This is in regard to incorporation frauds in about 500 Chinese companies th...
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MCA revises thresholds for mergers and amalgamation under Competition Act
Posted Date : 10-Mar-2024 , 07:49:41 am | Posted By CASANSAAR
In a relief to India Inc, the Ministry of Corporate Affairs (MCA) has raised the threshold limit for mergers and amalgamations (M&As) that need approval of the Competition Commission of India (CCI).
In its latest notification, the MCA has enhanced the threshold value by 150 per cent on the ba...
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MCA to soon launch centre to process all compliances for companies
Posted Date : 28-Oct-2023 , 08:00:07 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) will soon open its Central Processing Centre (CPC) for processing of forms related to all compliances for companies.
This is aimed to free up capacity at the offices of Regional Directors and Registrar of Companies to deal with enforcement matters, of...
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MCA allows 1,270 requests from CA, CS bodies to merge user IDs
Posted Date : 16-Aug-2023 , 09:13:22 am | Posted By CASANSAAR
The ministry of corporate affairs in India has granted 1,270 requests from professional associations - including company secretaries and chartered accountants - to deactivate or merge duplicated user IDs in the first month of permitting the move.
The move was to allow such professionals to ...
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MCA plans to further intensify Crackdown on Shell Companies
Posted Date : 21-Jun-2023 , 09:37:45 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs has already struck off hundreds of thousands of shell companies that are often used to funnel black money, the report said quoting sources in the know
The Ministry of Corporate Affairs (MCA) is planning to further intensify its crackdown against non-functional (s...
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MCA to Consult Practitioners on MCA-21 Glitches
Posted Date : 20-Jun-2023 , 09:02:49 am | Posted By CASANSAAR
With the critical Corporate Affairs Ministry portal, MCA-21, still ridden with glitches, hampering everything from registration of new firms to routine filings by existing firms, the Ministry has decided to hold parleys on the challenges faced by industry.
“Stakeholders’ consultations...
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MCA allows extension for filing of certain forms till 31.03.2023 without payment of additional fees
Posted Date : 22-Feb-2023 , 09:57:01 am | Posted By CASANSAAR
Due to migration of MCA21 portal from Version 2 to Version 3.0 and change in way of filing in Version-3 and based on the request of Stakeholders, Ministry of Corporate Affairs (MCA) has decided vide General Circular 05/2023 to allow further additional time till 31.03.2023 for filing of 45 forms laun...
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MCA amends Schedule III of Companies Act on disclosure norms in financial statements
Posted Date : 11-Aug-2021 , 10:26:10 am | Posted By CASANSAAR
In order to bring in greater transparency in reporting of financial statements, the Ministry of Corporate Affairs (MCA) vide notification dated 24.03.2021 has amended the Schedule III to the Companies Act, 2013 effective from 01st April, 2021 to mandate various disclosures by companies in their fina...
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12,889 shell companies struck off in FY 2020-21 - MCA
Posted Date : 04-Aug-2021 , 07:08:28 am | Posted By CASANSAAR
There is no definition of the term “Shell Company” in the Companies Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties...
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MCA removes restrictions on board meetings via video conferencing
Posted Date : 17-Jun-2021 , 09:36:38 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has issued a notification to allow board meetings through video conferencing for activities that were earlier restricted for the digital medium, in a move that will ease the burden on companies to hold physical meetings even beyond the pandemic.
Some of the activ...
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0 | Hits : 1483
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MCA revamps IT interface with businesses
Posted Date : 25-May-2021 , 09:39:30 am | Posted By CASANSAAR
The ministry of corporate affairs on Monday revamped its IT interface with businesses to offer virtual public consultation facility and from October onwards, allow e-adjudication of Companies Act violations.
The e-consultation platform under the interface called ‘MCA 21 version 3’ all...
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3,82,875 number of Companies struck off in three years up to FY 2020
Posted Date : 10-Mar-2021 , 08:59:23 am | Posted By CASANSAAR
Based on non-filing of Financial Statements (FS) consecutively for two years or more, “Shell Companies” were identified and after following due process of law as provided under Section 248 of the Act, 2013 read with the Companies (Removal of Names of Companies from the Reg...
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MCA strikes off 10,113 companies between April 2020 to February 2021
Posted Date : 09-Mar-2021 , 09:19:03 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) administers the Companies Act, 2013 (the Act), Limited Liability Partnership Act, 2008 and Insolvency and Bankruptcy Code, 2016. There is no provision for weeding out the Companies in the Act.
This was stated by Shri Anurag Singh Thakur, Union Ministe...
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MCA advises investors to verify status of Nidhi companies before investment
Posted Date : 26-Feb-2021 , 08:03:35 am | Posted By CASANSAAR
Under the amended Companies Act, 2013 and the Nidhi Rules, 2014, companies need to get themselves updated (those companies which were earlier declared as Nidhi company under the Companies Act, 1956) or declared as Nidhi company (those companies which were incorporated as Nidhi company after 01.04.20...
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Ministry of Corporate Affairs and CBIC sign MoU Delhi for data exchange
Posted Date : 26-Feb-2021 , 07:39:03 am | Posted By CASANSAAR
The Ministry of Corporate Affairs and Central Board of Indirect Taxes and Customs today signed a Memorandum of Understanding in New Delhi for data exchange between the two organisations.
It is in line with the vision of both organisations to harness data capabilities to ensure effective enf...
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MCA |
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0 | Hits : 955
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Govt directs LLPs to disclose their Beneficial Owners
Posted Date : 19-Feb-2021 , 07:20:58 am | Posted By CASANSAAR
The Ministry of Corporate Affairs has extended the rules relating to significant beneficial ownership to limited liability partnerships. For companies, the requirement was first notified in January 2018.
In a website notification, the ministry has asked designated partners in LLPs to be rea...
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MCA amends One Person Companies (OPCs) rules
Posted Date : 04-Feb-2021 , 08:06:31 am | Posted By CASANSAAR
As a measure which directly benefits Startups & Innovators in the country, especially those who are supplying products & services on e-commerce platforms, and in order to bring in more unincorporated businesses into the organized corporate sector, the incorporation of One Person Companies (O...
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0 | Hits : 1061
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MCA provides additional relaxations to independent directors for Online Proficiency Test
Posted Date : 21-Dec-2020 , 10:08:52 am | Posted By CASANSAAR
In further relief to independent directors, the ministry of corporate affairs (MCA) relaxed both the requirements and timelines for the online self-assessment proficiency test such directors must take under the amended Companies (Appointment and Qualification of Directors) Rules, 2014.
Move to en...
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SPICe+ Portal deployed by MCA
Posted Date : 20-Sep-2020 , 10:40:22 am | Posted By CASANSAAR
The Ministry of Corporate Affairs (MCA) has notified and deployed a web-form namely ‘SPICe+’ (pronounced SPICe Plus) vide notification no. GSR 128 dated 18.02.2020 (effective from 23.02.2020) as a part of Government of India’s Ease of Doing Business (EODB) initiatives. This w...
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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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