Moneycontrol PRO

Budget allocation for corporate affairs ministry hiked to Rs 564 cr

According to a document of the Budget for 2018-19, the allocation has been significantly hiked for "Regional Directors, Official Liquidators and Other Expenditure with reference to various bodies under Companies Act".

February 01, 2018 / 07:01 PM IST
Action Construction Equipment  | The promoter stake holding for September quarter 2019: 70.87%; December quarter 2019: 72.25%; March quarter 2020: 72.42%; and June quarter 2020: 72.43%. It's debt-to-equity for FY20 was 0.19x. In the last one-year stock price has lost 7 percent to Rs 60.85 as on September 08, 2020.

Action Construction Equipment  | The promoter stake holding for September quarter 2019: 70.87%; December quarter 2019: 72.25%; March quarter 2020: 72.42%; and June quarter 2020: 72.43%. It's debt-to-equity for FY20 was 0.19x. In the last one-year stock price has lost 7 percent to Rs 60.85 as on September 08, 2020.

The budgetary allocation for the corporate affairs ministry has been increased by little over 8 per cent to Rs 564.15 crore for the next fiscal.

For 2017-18 period, the allocation was at Rs 520.84 crore.

According to a document of the Budget for 2018-19, the allocation has been significantly hiked for "Regional Directors, Official Liquidators and Other Expenditure with reference to various bodies under Companies Act".

In the next fiscal, this category would be getting Rs 177.54 crore compared to Rs 116.20 crore this financial year.

Regional directors supervise, advise and guide the offices of the Registrars of Companies and official liquidators under their respective jurisdiction.

Close

Other expenditure include those pertaining to the offices of Serious Fraud Investigation Office (SFIO), National Company Law Tribunal (NCLT), National Company Law Appellate Tribunal (NCLAT), Competition Appellate Tribunal (COMPAT), National Financial Reporting Authority (NFRA) and National Financial Reporting Appellate Authority (NFRAA), the document said.

Competition Commission of India (CCI), which comes under the ministry, would be receiving a higher allocation of Rs 133 crore in 2018-19. In the comparable period, the same was at Rs 126.95 crore.

The allocation for the Insolvency and Bankruptcy Board of India (IBBI) is almost unchanged at Rs 11.07 crore for the next financial year.
PTI

stay updated

Get Daily News on your Browser
Sections
ISO 27001 - BSI Assurance Mark