ministry of corporate affairs articles

Review of steps taken by Ministry of Corporate Affairs during the calendar year 2010

The basic charter of Ministry of Corporate Affairs is to promote the growth of the Indian corporate sector through enlightened regulation. To enable formulation of enlightened regulations that provide a framework for the corporate sector and its stak...

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Posted Under: Corporate Law |

All about Cost Audit Branch under Ministry of Corporate Affairs

Cost Audit Branch under the Ministry of Corporate Affairs is manned by professionals drawn from the Indian Cost Accounts Service (ICAS) and primarily deals with sections 209 (1) (d) and 233B of the Companies Act, 1956. The Branch, under section 209 (1) (d) formulates & notifies Cost Accounting Records Rules (CARRs) for various industries....

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Posted Under: Corporate Law |

Ministry of corporate affairs Plans to outsource investigation related work to specialised chartered accountant firms

To expedite investigations into the books of accounts of companies, the ministry of corporate affairs is planning to outsource the investigation related work to specialised chartered accountant firms.Currently, the job is done by the Registrars of Co...

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Posted Under: Corporate Law | ,

ICAI report will not help in regulating the profession and in prevention of fraud like Satyam: MCA officials

The ministry of corporate affairs, or MCA, has all but dismissed the findings of a panel set up by the Institute of Chartered Accountants of India (ICAI) because it contains little that will help in regulating the profession and ensuring that frauds such as the one at Satyam Computer Services Ltd don't happen again....

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Posted Under: Corporate Law | ,

Company Law Settlement Scheme, 2010 – Key Highlights

It has been observed by the Ministry of Corporate Affairs that a large number of companies are not filing their due documents timely with the Registrar of Companies. Due to this, the records available in the electronic registry are not updated and thereby are not available to the stakeholders for inspection. Further, due to non-filing of ...

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Posted Under: Corporate Law |

Easy Exit Scheme, 2010 for “defunct companies” under Companies Act, 1956

Ministry of Corporate Affairs (MCA), Government of India has on 26 May 2010 introduced Easy Exit Scheme, 2010 (EES) under the Companies Act, 1956 (the Act) to provide a fast track exit for "defunct companies" to get their names struck off from the records of the Register of Companies (ROC). The salient features of the scheme are as under:...

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Posted Under: Corporate Law |

Companies Act, 1956 vis-à-vis Easy Exit scheme- Implication of Companies which failed to raise minimum paid up capital after 12-12-2002 – An Analysis

The Ministry of Corporate Affairs (MCA) has give an opportunity to the defunct companies, for getting their names struck-off from the Register of Companies, the Ministry has decided to introduce a scheme namely, Easy Exit Scheme, 2010 under Section 560 of the Companies Act, 1956. The scheme is operational from 30th May 2010 to 31st Augu...

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Posted Under: Corporate Law |

Frequently Asked Questions on Easy Exit Scheme, 2010

Q. What is Easy Exit Scheme (EES), 2010? A. “Easy Exit Scheme, 2010” is a scheme to give opportunity to the defunct companies to get their names struck off from the register under Section 560 of the Companies Act, 1956....

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Posted Under: Corporate Law |

Expert Group highlighted the need to develop cost accounting standards

The expert group constituted by the Ministry of Corporate Affairs has specifically highlighted the need to develop cost accounting standards on the basis of generally accepted cost accounting principles. The cost accounting standards board is working to address the issue....

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Posted Under: Corporate Law | ,

397/398 – Fictitious Filing of Forms with MCA Portal – A Case Study – Indian Company Law

I was of the opinion that the technological advancements and the schemes like MCA providing for on-line corporate filing, will be of help to the corporates. I was also of the opinion that the MCA scheme will also boost the pace in which the companies are being incorporated in India. There is a positive side of MCA scheme providing for spe...

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Posted Under: Corporate Law |

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