Till now, only listed companies were required to convert all their shares into demat form under SEBI's norms.
Several dubious companies were under the radar of the Central Board of Direct Taxes (CBDT) and if found to be shell firms, they would be removed from the website of Ministry of Corporate Affairs (MCA), a top official said today.
Spelling out practical problems it had encountered in implementing the Justice Lodha committee's reforms in the BCCI and its affiliates in totality, Mumbai Cricket Association has said it already had in place measures that, by and large, jell well with the reform process.
The proposed merger was aimed at recovering Rs 5600 crore of investors' money
Speaking about his change in position on a CBI probe into the scam, Chouhan said, "I asked for a CBI probe because a vicious atmosphere was being created. I wanted to put all doubts and fears to rest," Chouhan added.
The Company Law Board on Thursday adjourned the hearing on the MCA petition to supersede the board of Financial Technologies till April 17
Shares of NTPC shot up 7 percent intraday Thursday on approval from the Ministry of Corporate Affairs for issue of bonus debentures to shareholders.
Tata Motors said its heavy duty trucks range Tata Motors Prima has associated with the Kings XI Punjab as official title sponsor in the upcoming Indian Premier League (IPL) Season 8.
The services available on the portal, www.ebiz.gov.in, include those from Corporate Affairs Ministry (MCA), Reserve Bank of India (RBI), Department of Industrial Policy and Promotion (DIPP), Central Board of Direct Taxes (CBDT), Directorate General of Foreign Trade (DGFT) and Employees‘ Provident Fund Organisation (EPFO).
The taxman argued that Sesa Sterlite, after the merger, had sought tax refund of Rs 1600 crore citing combined losses of the merged entity. The SC will hear the matter for final disposal on April 28.
According to sources, the Companies Act Amendment Bill 2014 seeks to amend seven key provisions and hopes to table it in the Winter Session, scheduled to begin November 24.
CNBC-TV18‘s Latha Venkatesh spoke about the quality of India's macro-economic data with TCA Anant, Chief Statistician and Pranob Sen, Chairman, National Statistical Commission.
Now the Ministry has been empowered to take a decision in this regard," Communications and IT Minister Ravi Shankar Prasad said after the CCEA meeting.
Now, once the Law Ministry submits its opinion, the MCA plans to adopt a two-pronged approach, one being that it is going to be filing cases before the Company‘s Law Board for violations of the Company‘s Act.
The Reserve Bank is examining the credentials of nearly 35,000 entities whose particulars were shared with it by the MCA because of rising instances of fraudulent investment schemes.
Sources say that while the revenue share model in the MCA for the private developers have been finalised it is still awaiting legal vetting.
KyaZoonga.com, the official ticketing partner for the second India versus West Indies Test from November 14-18 at Mumbai's Wankhede Stadium, was swamped with huge number of surfers, who wanted to buy tickets for the much-awaited match.
Addressing the 10th convocation ceremony of Motilal Nehru National Institute of Technology here, Kalam said "contribution of sciences to one another is going to shape our future" and urged young engineering students to "drop the iron curtain" that seemed to exist between different technologies.
The FMC has issued a show cause notice to various members of Financial Technologies board and has shared the same with the Ministry of Corporate Affairs on October 6.
According to DK Mittal, the government should now move together and go to the Company Law Board to get the NSEL board replaced by another management which ultimately turned around the company.
The Arvind Mayaram Panel has given various options for different investigatng agencies and has asked the Ministry of Corporate Affairs (MCA) to examine if the government‘s takeover could be a possible route.
Civil aviation minister Ajit Singh on Friday said that he saw no issues with the Tata-Singapore Airlines deal. If it does arise, it will be for the corporate affairs ministry and civil aviation ministry to look into.
The Tata‘s will hold 51 percent and Singapore Airlines will get 49 percent. But the deal may face regulatory turbulence as Tata's also hold 30 percent in a joint venture (JV) with Air Asia India reports CNBC-TV18‘s Ronojoy Banerjee and Animesh Das.
NSEL, is presently facing a crisis of settling Rs 5,600 crore dues to 148 members/brokers, representing 13,000 investor clients, after its trade was suspended on July 31 by government orders.
While most experts are hailing the Rajya Sabha passing the Companies Bill, they have concerns over drafting the Bill's nuances and the timeframe in which it will be brought out.