The department said more than 245 benami transactions have been identified and provisional attachments of properties worth Rs 55 crore have already been made in 124 cases as per the amended benami transactions prohibition law which came into effect from November, 2016.
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.
More than 2 lakh inactive companies are under the scanner of the Registrar of Companies (RoC) as the government looks to crackdown on shell companies used for evading taxes.
As many as 90 trading members had applied with Ministry of Corporate Affairs to establish shops at IFSC, of which 84 entities have got the clearance.
The government, said Meghwal, who is also incharge of the Ministry of Corporate Affairs (MCA) - where corporate disputes eventually land up, will steer clear of the row as "it is an internal affair of Tata Sons".
Finance Minister Arun Jaitley today directed senior officials of the ministries of finance and corporate affairs to take steps, including setting up of a board, for the implementation of Insolvency and Bankruptcy Code (IBC) 2016 in a time bound manner.
India Post Payments Bank has come into existence after it received certificate of incorporation from the Registrar of Companies, setting the stage for the new bank to begin operations in 2017.
Government today decided to set up a special court to hear all NSEL related cases on a priority basis while also asked the Enforcement Directorate to expedite action to recover Rs 3,721 crore from defaulters, and regulator Sebi to complete probe of brokers at the earliest.
Top stock exchange NSE has revamped its board, appointing three new public interest directors including chairman of Manipal Global Education Services and Infosys' former director Mohandas Pai.
SKS Microfinance on June 13 said the name of the company has been changed to Bharat Financial Inclusion Ltd.
With the constitution of the NCLT, the Company Law Board constituted under the Companies Act, 1956 stands dissolved.
Ministry of Corporate Affairs has notified the debt to capital and free reserves ratio for government companies that are into housing finance activities.
The proposed merger was aimed at recovering Rs 5600 crore of investors' money
The regulator found that Ravi Kiran raised Rs 1.31 crore by issuing redeemable preference shares (RPS) to 1,176 people, Infocare Infra mopped-up Rs 98.35 lakh by allotting non- convertible debentures to 90 investors and another Rs 9.41 lakh via RPS to 95 people.
A Securities and Exchange Board of India (Sebi) probe found that Dreamland Industries had mobilised Rs 34 lakh in 2012-2013 and Rs 96.30 lakh in 2011-2012, from the public under its offer and issue of NCDs and in doing so it has failed to comply with the provisions of the Companies Act.
"The company has received a notice from the Ministry of Corporate Affairs (MCA) for an inspection under section 206(5) of the act of the books of accounts and other books and papers of the company," United Spirits Ltd (USL) has said.
The company has been directed to refund the money raised through RPS along with an interest of 15 percent per annum. Besides, the firm and its directors have also been barred from the capital market for a period of four years.
Allaying concerns in certain quarters that compulsory CSR spending under the Companies Act, 2013, could be used for funding government schemes, the Ministry of Corporate Affairs has come out with a detailed Frequently Asked Questions (FAQs) on CSR norms.
Axis Bank, India’s third largest private sector bank, has been conferred the Certificate of Recognition for excellence in Corporate Governance ...
A Securities and Exchange Board of India (Sebi) probe found the company was running Collective Investment Schemes (CIS) without obtaining regulatory approvals.
The National Consumer Commission, which was hearing the case, has asked the government to send all nine varieties of instant noodles to a lab based out of Mysore, to ascertain if the lead and MSG content are within permissible limits
According to IRDAI (Registration of Insurance Marketing Firm) Regulations, 2015, the authority has notified the regulatory framework of constitution, licensing aspects, governance structure, enforcement structure of IMFs.
These new names were approved by the Appointments Committee of Cabinet headed by Prime Minister Narendra Modi. Das, a 1980 batch Tamil Nadu cadre officer, was holding the post of Revenue Secretary and will assume charge after the retirement of current Economic Affairs Secretary Rajiv Mehrishi on August 31 this yea
Besides, Securities and Exchange Board of India (Sebi) has barred the company and its director from the securities markets for four years. A Sebi probe found that Ally Multitrade was running 'collective investment schemes (CIS)' without obtaining registration from the regulator.
The Securities and Exchange Board of India (Sebi) found that Purusattam Infotech had issued cumulative redeemable preference shares to over 2,000 individuals and had mobilised funds amounting to around Rs 3 crore.