Mca

MCA should strive to be futuristic to serve stakeholders: FM Sitharaman

FM asked the Corporate Affairs Ministry to modernise systems, enhance transparency and ensure time-bound services as she reviewed Regional Directorates and the Registrar of Companies

Extending deadline not enough, MCA portal needs fixing, say experts

Despite the MCA extending its filing deadline to December 31, professionals say persistent glitches on the new version 3 portal continue to stall compliance work

Parliamentary panel seeks MCA report on CCI's role in digital landscape

The standing committee chaired by Bhartruhari Mahtab, Member of Parliament in its report tabled in the Lok Sabha during the monsoon session backed the need to have an ex-ante regulatory framework

MCA, Sebi look to ease transfer of unclaimed shares and dividends

The task force reviewing existing norms is expected to release draft proposal in September

Govt likely to amend IBC to scrap prior CCI nod for insolvency bids

Experts feel a clarity by the government on this matter would bring relief to bidders who were concerned about approaching CCI before the CoC approval

MCA aims to complete Gensol Engineering probe in three to five months

Authorities including NFRA and ICAI are examining Gensol's books and audit trail; SFIO probe likely if MCA finds sufficient evidence of fund diversion

BPSL liquidation: MCA, IBBI study SC order to assess IBC implications

"We are examining the order and seeing what learnings can be taken from there in terms of IBC regulations and processes," the government official said

Govt to take necessary action in Gensol case after examining Sebi's order

The corporate affairs ministry on Monday said it will take necessary action in the Gensol Engineering matter after examining market regulator Sebi's order against the company. Last week, Sebi barred the company's promoters Anmol Singh Jaggi and Puneet Singh Jaggi from the securities market for various violations. The order came amid accusations of siphoning off loan funds from their publicly listed company Gensol Engineering for personal use, raising concerns over corporate governance and financial misconduct. When contacted, the Ministry of Corporate Affairs (MCA) told PTI that it is examining the Sebi order in light of the provisions of the Companies Act, 2013. "Necessary action would be taken accordingly," the ministry said.

MCA considering an oversight body for lender committee functioning

"We are discussing whether an oversight committee is required. The discussions at this stage are being done internally at the Ministry of Corporate Affairs (MCA) level," the senior official said

MCA proposes wider scope for fast track M&As under present rules

MCA has proposed that unlisted cos which have reasonable debt exposure of less than Rs 50 cr and have not defaulted on repayment can go through the fast track mechanism under Sec 233 of Companies Act

MCA looks to simplify M&A rules, seeks inputs from other ministries

"We are in the process of doing a stakeholder discussion. Currently, the talks are being held with other ministries. We will finalise our proposal thereafter," a MCA senior official said

PM's internship scheme registers over 90,849 opportunities, says MCA

The scheme would target providing 125,000 internship opportunities to youth aged 21 to 24 in FY 2024-25 with a budget of Rs 800 crore

Nearly 50,000 internship opportunities posted on portal: MCA officials

The Ministry of Corporate Affairs would make the portal open for candidates to apply from October 12th to October 25th

MCA likely to bring out internship scheme guidelines within two weeks

The MCA has held industry consultations on the scheme before finalising the guidelines. The ministry will also put in place checks and balances in the scheme to ensure transparency

Companies now have to report dealings with MSEs on half-yearly basis

This will ensure greater transparency and discourage delayed payments to small enterprises

MCA allows multiple KYC updates throughout the year for directors

Earlier, once annual KYC was filed, mobile numbers and email IDs could not be updated till April the next year

Next-Gen Tech Training: Parul University Launches Innovative Online MCA Program

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Proceedings initiated against Byju's under companies law still ongoing: MCA

The Ministry of Corporate Affairs on Wednesday said proceedings initiated against edtech player BYJU'S under the companies law are "still ongoing" and a final conclusion cannot be drawn in the matter at this stage. Last year, the ministry ordered the inspection of the books of BYJU'S in the wake of various developments at the edtech company, including its inability to finalise the statements and the resignation of an auditor. In a statement on Wednesday, the Ministry of Corporate Affairs (MCA) said reports claiming that BYJU'S has been cleared of financial fraud in an ongoing investigation by it are "factually incorrect and misleading". "The proceedings initiated by MCA under the Companies Act, 2013, are still on going and no final conclusion should be drawn in this matter at this stage," it added. In July 2023, MCA asked the office of the Regional Director in Hyderabad to conduct an inspection of the company Think & Learn Pvt Ltd, which is registered in Bengaluru. Think & ...

Consultations underway at MCA for expansion of audit firms in India

These discussions have involved representatives from notable firms who have independently submitted their recommendations to the ministry

Raft of exemptions for government companies covers Sebi, MCA, CCI

The rules surrounding MPS requirements have differed for PSUs compared to their private sector counterparts