corporate affairs ministry

Apex chartered accountants body ICAI has accused multinational accounting companies of violating the CA Act and asked for joint action by agencies, including the RBI and the Corporate Affairs Ministry, to enforce compliance. Full Article

The Ministry of Corporate Affairs (MCA) will probe management and auditors of 12 listed companies, including Raj Television Network and Surya Lakshmi Cotton Mills, for allegedly providing false information about the shareholding pattern. 'MCA believes the 12 companies under scanner furnished false info regarding their share breakup to Regional Directors (RDs)', an official said. The ministry is likely to soon ask the Regional Directors concerned to probe role of auditors.. Full Article

From Next month you can register a company in India in 24 hours! The Union ministry of corporate affairs has set the first week of July as the target date for launching a completely digitised service that will allow anyone with all relevant documents and approvals to complete the process of registering a company in one day. Full Article

Asked by the government for suggestions on a new set of rules for ownership and governance of the stock exchanges, the industry has favoured listing of the bourses.However, there is no unanimity among the industry bodies and the exchanges themselves on how to segregate the regulatory and commercial roles of stock exchanges. Full Article

The government has released norms for appointment of relatives in companies, a decision that will allow directors or managers to engage services of close ones without seeking permission of the Centre. A company, however, will be required to seek the permission of the central Government if monthly payment made to relatives is more than Rs 2,50,000, the Corporate Affairs Ministry said in a notification. Full Article

Coinciding with International Women's Day , the Corporate Affairs Ministry on Tuesday said it would make it mandatory for companies having five or more independent directors to have at least one female independent director. Full Article

Amid sharp differences over making CSR mandatory, the government may ask corporates to only disclose to shareholders whether they have made a contribution of 2 per cent of net profit toward corporate social responsibility activities.  Full Article

After considering the views of the industry and a House panel, the government will table the Companies Bill 2009 in the forthcoming Budget session, the Ministry of Corporate Affairs said today. Full Article