Page 9 - Ministry Of Corporate Affairs

India launches probe into MG Motor as scrutiny on Chinese firms widens

The company's top management, including directors, managing director and auditors have been summoned next month by the ministry seeking more clarification

Byju's takes Rs 300 crore unsecured loan from Aakash at a rate of 7.5%

Aakash Educational Services was acquired by Think and Learn Pvt, Byju's parent company, in April 2021 for a cash and stock deal worth $950 million

Ministry of Corporate Affairs nominates two directors on board of IL&FS

The Ministry of Corporate Affairs (MCA) has nominated two directors -- G Mahalingam and Deepak Mohanty -- on the board of IL&FS. The appointment of these two directors has been approved by both the MCA and National Company Law Tribunal. When contacted, IL&FS confirmed their induction on the board effective October 15, 2022. Both Mahalingam and Mohanty are former executive directors in the Reserve Bank of India. With this induction, the existing board of IL&FS now comprises 6 members with C S Rajan as non-executive chairman.

MCA planning to shift all company forms to new portal by December

Currently only nine forms are to be filled on the new version, ministry officials cite surge in company submissions on version 3

MCA approves demerger of NMDC steel plant in Chhattisgarh from NMDC

: The Ministry of Corporate Affairs (MCA) has approved the demerger of NMDC Steel, a three-million tone steel plant in Chhattisgarh, from NMDC Ltd, the iron ore miner said. This is to inform you that the Company is in receipt t of the MCA Order dated 06.10.2022 received on 11.10.2022 sanctioning the Scheme, and the same is annexed to this letter. Request you to kindly take the same on record and oblige, NMDC said in a communication to BSE on Tuesday night. The Company is in the process of complying with the requirements as envisaged in the MCA Order and the observation letters received from Bombay, Calcutta and National Stock Exchanges, NMDC said. NMDC is in the process of demerging its three-million Greenfield steel plant it built at Nagarnar in Chhattisgarh with an investment outlay of over Rs 20,000 crore.

Top Headlines: TCS on moonlighting, licensing of digital apps, and more

TCS said moonlighting is an "ethical issue" and against its core values but has not taken any action against any staff

Ministry of Corporate Affairs improves the ease of running a company

Over the past two years the government has moved to decriminalise key provisions and simplified statutory requirements in the Companies Act

Govt looks to ease compliance burden with new CSR disclosure rules

The new rules have also revised the amount to be spent on impact assessment of CSR projects to 2 per cent of total CSR obligation or Rs 5 million, whichever is higher

Companies can omit important information under new CSR disclosure rules

New rules let companies omit details like title, location, and duration of the business's CSR project, budget allotted for it, the amount spent on it during the current fiscal year among others

Special cell to hear cases against CAs for registering Chinese shell firms

When asked what action can be taken against CAs who are found guilty, Debashis Mitra said they could be removed from their post for as long as their lifetime

SFIO arrests 'mastermind' behind web of Chinese shell companies

The September 10 arrest comes after Finance Minister Nirmala Sitharaman directed the MCA to identify shell companies that can be used to siphon off funds

After lay-offs, edtech startup Lido Learning files for insolvency

Lido Learning's board of directors has passed a special resolution to file an application under section 10 of IBC, 2016

MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

MCA tweaks rules about company deposits, enhances statutory auditors' role

The new rules, according to experts, will widen the responsibility of directors to the statutory auditors. They came into effect on August 29

Govt asks Byju's to explain delay in filing audited financial accounts

Ministry of Corporate Affairs sent a letter to Byju's parent company asking them to explain the seventeen-month delay in filing audited accounts

LIVE: British Prime Minister Boris Johnson wins confidence vote

Catch the latest new on ousted BJP leaders controversial comments, the coronavirus, Ukraine war and other headlines.

PM Modi inaugurates 'Iconic Week' celebrations, launches Jan Samarth portal

PM Modi kick-started the "iconic week" today, celebrated between June 6 and June 11, 2022, and launched a portal for credit-linked government schemes called Jan Samarth Portal

PM Modi to inaugurate 'Iconic Week Celebrations', launch Jan Samarth portal

Prime Minister Narendra Modi will inaugurate the 'Iconic Week Celebrations' of the Ministry of Finance and Ministry of Corporate Affairs today at Vigyan Bhawan in Delhi.The "iconic week" is being celebrated as part of the 'Azadi Ka Amrit Mahotsav' (AKAM) from June 6 to June 11, 2022.PM Modi will launch the national portal for credit-linked government schemes - Jan Samarth Portal. It is a one-stop digital portal linking government credit schemes that directly connect beneficiaries to lenders.According to the Prime Minister's Office, the main purpose of the Jan Samarth portal is to encourage inclusive growth and development of various sectors by guiding and providing them with the right type of government benefits through simple and easy digital processes. The portal ensures end-to-end coverage of all the linked schemes.The Prime Minister will inaugurate a digital exhibition that traces the journey of the two ministries, Finance and Corporate Affairs, over the past eight years. He will .

PM to inaugurate 'iconic week' of Finance, Corporate Affairs ministries

The "iconic week" is being celebrated as part of the 'Azadi Ka Amrit Mahotsav' (AKAM) from June 6 to June 11, 2022

India probes ZTE, Vivo as more China firms under scrutiny: Report

India has tightened scrutiny of China-based firms since 2020, when the two nations saw the deadliest fighting in decades at their disputed Himalayan border