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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 297
|
 |
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 330
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 148
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 243
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 545
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 323
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 502
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 196
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 150
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 624
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 168
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 375
|
|
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....
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 214
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 224
|
|
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 ...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 1447
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 811
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 238
|
|
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
...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 437
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
1 | Hits : 608
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 826
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 1156
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 350
|
|
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 ...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 262
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 194
|
|
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"...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 864
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 949
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 203
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 529
|
|
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 ...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 459
|
|
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...
Continue Reading...
Category :
MCA |
Comments :
0 | Hits : 2334
|
|
|
