During last five years i.e. from 2008-09 to 2012-13 a total of 782 inspection reports in respect of companies were received in the Ministry of Corporate Affairs. Based on the findings in the inspection reports, penal actions have been taken against the companies and their directors/officers in default for violation of various provisions of the [...]

Companies Need to Look Beyond Shareholder Value And Make Sustainability a Core Driver of their Strategy – Sachin Pilot Corporate Affairs Minister Inaugurates ‘CSIA International Corporate Governance Conference’ Shri Sachin Pilot, Minister of Corporate Affairs, inaugurated the two-day 2nd CSIA (Corporate Secretaries International Association) International Corporate Governance Conference on the theme ‘Corporate Governance for Sustaining [...]

The Ministry of Corporate Affairs had initially identified 238 companies as vanishing companies. Out of these, names of 151 companies have since been deleted from the list as the companies started filing their Balance Sheets etc. with Registrars of Companies as well as Stock Exchanges and the criteria for treating a company as ‘vanishing’ is [...]

Lok Sabha today passed the Companies Bill , with the government saying the aim is to protect interest of employees and small investors while encouraging firms to undertake social welfare voluntarily instead of imposing that through inspector raj. Replying to a debate before the bill was passed by a voice vote, Corporate Affairs Minister Sachin Pilot said through this new legislation, the government intends to make India an attractive and safe investment destination.

Shri Pilot said that the introduction of MCA 21 has yielded remarkable results. In terms of efficiency, the project achieved speedy delivery of services and regulation of corporate compliances through the use of modern information technology.

Wealth Creation has been a predominant culture of the businesses traditionally. But the formation of transnational corporations has given this view point a new and wider dimension. And that is the social responsibility of the business entities. Creating values should be the prime focus of the corporations rather than creating money only.

The MCA21 is considered as one of the most successful mission mode project (MMP) having implemented many innovations viz. internet payments, credit card payment, electronic issuance of stamp paper (e-stamp), use of adobe e-forms, end-to-end electronic work flow and digital signature (DSC) based electronic filing.

There have been several times in the last two decades when the ethical behavior of organisation has been the center of attention. This may be due to lack of knowledge on the issues related to compliance.

Registered companies in India can’t pay more than 10% of net profit as remuneration to board-level directors overall without the government’s approval, the Ministry of Corporate Affairs said today.

Ministry of Corporate affairs has vide its General Circular No. 14/2012, dated 21-6-2012 imposed fees on various forms which were free of cost. One such form was E-form-23B which in an Intimation to ROC by statutory auditors regarding their appointment. So now fee shall be payable based on Authorised Capital of the Company. Additional fee provisions shall also apply in case of delay. It shall be applicable from 22nd July 2012.