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  • MCA extends time for holding annual general meetings by two months Sep 23, 2021 04:29 PM IST

    MCA extends time for holding annual general meetings by two months

    The ministry has received representations seeking extension of time for holding AGMs, "citing many difficulties due to the second wave of COVID-19 and consequent lockdown".

  • NCLAT dismisses Devas Multimedia's plea against its winding up Sep 08, 2021 11:36 PM IST

    NCLAT dismisses Devas Multimedia's plea against its winding up

    The order of winding up of Devas Multimedia is "undoubtedly, cemented on, just, fair, reasonable and equitable ground to relieve an 'abuse' and the same is free from any legal flaws," it added.

  • NCLT directs freezing, attaching assets of Videocon promoters Sep 01, 2021 12:39 PM IST

    NCLT directs freezing, attaching assets of Videocon promoters

    The NCLT Mumbai bench has directed the Central Depository Services Ltd (CDSL) and National Securities Depository Ltd (NSDL) that securities owned or held by the Videocon promoters "in any company or society be frozen, and be prohibited from being transferred or alienation” and the details be shared with the Ministry of Corporate Affairs (MCA).

  • We are creating a new cadre of trained insolvency professionals through the graduate insolvency program: Rajesh Verma Aug 27, 2021 07:36 PM IST

    We are creating a new cadre of trained insolvency professionals through the graduate insolvency program: Rajesh Verma

    Commenting on the five year's of IBC's implementation, Verma said, "Ease of exit is as important as of entry for a business. Before the enactment of IBC, Indian businesses did not have the freedom of exit, and also to recover the insolvency so easily."

  • COVID-19 impact | MCA extends statutory filing deadline, allows longer interval between board meetings May 04, 2021 05:23 PM IST

    COVID-19 impact | MCA extends statutory filing deadline, allows longer interval between board meetings

    Companies are in general required to hold at least four board meetings per year and the interval between each must not exceed four months or 120 days. The MCA relaxed this by two months or 60 days, increasing the interval limit by up to six months or 180 days.

  • Spending funds for setting up makeshift hospitals, temporary COVID care facilities eligible CSR activity: Govt Apr 22, 2021 07:41 PM IST

    Spending funds for setting up makeshift hospitals, temporary COVID care facilities eligible CSR activity: Govt

    Earlier, the Ministry of Corporate Affairs had clarified that spending CSR funds on awareness campaigns and public outreach programmes to promote vaccination against COVID-19 would also be considered as an eligible CSR activity.

  • Over 10,000 companies closed down in FY21, MoS finance Anurag Thakur tells Parliament Mar 08, 2021 09:01 PM IST

    Over 10,000 companies closed down in FY21, MoS finance Anurag Thakur tells Parliament

    The Ministry of Corporate's official statistics show that 68,463 companies closed down in FY20.

  • Govt to not extend Covid-19 relaxation for documentation by companies beyond December 31 Jan 02, 2021 02:27 PM IST

    Govt to not extend Covid-19 relaxation for documentation by companies beyond December 31

    These provisions include the Fresh Start Scheme of companies and limited liability partnerships (LLPs) and a scheme related to relaxation in filing forms for creation or modification of charges.

  • Attending AGMs from home Dec 02, 2020 01:12 PM IST

    Attending AGMs from home

    Corporate India’s adoption of virtual AGMs amidst the COVID-19 lockdowns has been remarkable. Given the experience of the 2020 AGM season, regulators must consider making hybrid meetings a permanent part of the AGM process

  • MCA extends deadline for holding AGMs from September 30 to December 31; 12 lakh firms may benefit Sep 08, 2020 07:57 PM IST

    MCA extends deadline for holding AGMs from September 30 to December 31; 12 lakh firms may benefit

    Many smaller companies would have found it tough to meet the September 30 deadline as they would not have audited accounts owing to COVID-19 disruptions. Every year, companies hold their annual general meetings towards the end of September.

  • Delhi HC stays IBC proceedings against Anil Ambani in Rs 1,200 crore loan default case Aug 27, 2020 01:37 PM IST

    Delhi HC stays IBC proceedings against Anil Ambani in Rs 1,200 crore loan default case

    Anil Ambani earlier moved the Delhi High Court against the appointment of a resolution professional (RP) on the personal guarantee given by him against a loan taken by Reliance Communications Ltd (RCom) and Reliance Infratel Ltd (RITL) from SBI.

  • Corporate Affairs Ministry allows companies to seek extension for holding AGMs Aug 20, 2020 01:18 PM IST

    Corporate Affairs Ministry allows companies to seek extension for holding AGMs

    The Ministry of Corporate Affairs advised the Registrar of Companies to consider such applications liberally in view of the hardships faced by the stakeholders.

  • SBI to hold virtual general meeting on June 17 Jun 10, 2020 01:05 PM IST

    SBI to hold virtual general meeting on June 17

    In April, Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) had allowed companies to conduct their annual general meeting (AGM) through video conferencing or other audio visual means, during this year due to COVID-19 restrictions.

  • NCLAT sets asides NCLT order to make MCA party in all insolvency, company matters May 25, 2020 03:50 PM IST

    NCLAT sets asides NCLT order to make MCA party in all insolvency, company matters

    Allowing the plea filed by the Ministry of Corporate Affairs (MCA), a two-member bench of the appellate tribunal said the NCLT's direction was "beyond the power" and amounted to "imposition of a new rule in a compelling fashion".

  • Coronavirus lockdown 3.0 | MCA allows companies to hold AGMs through video conferencing May 05, 2020 08:51 PM IST

    Coronavirus lockdown 3.0 | MCA allows companies to hold AGMs through video conferencing

    The ministry also allowed companies to send their financial statements and other required documents required via email.

  • COVID-19 | The virtual reality of shareholder meetings Apr 07, 2020 08:58 AM IST

    COVID-19 | The virtual reality of shareholder meetings

    With social distancing and lockdowns becoming the norm, shareholder meetings will have to take on a virtual form. Although companies, investors, and regulators may not all be prepared, this will be the new normal.

  • Zuari Agro Chemical under MCA lens over corporate governance violations Mar 04, 2020 05:00 PM IST

    Zuari Agro Chemical under MCA lens over corporate governance violations

    The Ministry of Corporate Affairs' western regional director office has ordered an inspection under Section 206 of the Company's Act.

  • No unnecessary action against independent directors without strong evidence of wrong doing: MCA Mar 02, 2020 09:40 PM IST

    No unnecessary action against independent directors without strong evidence of wrong doing: MCA

    Against the backdrop of instances of independent and non-executive directors coming under the scanner for alleged corporate misdoings, the ministry has sent out a circular to its Regional Directors, Registrars of Companies (RoCs) and official liquidators with respect to prosecution proceedings.

  • IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors Jan 16, 2020 10:30 PM IST

    IL&FS case: NCLAT to provide formula for distribution of proceeds among creditors

    The tribunal have also asked some of the lenders to file revised framework proposed by the Ministry of Corporate Affairs within a week, stating their position in the resolution of IL&FS group, which has a cumulative debt of over Rs 90,000 crore.

  • NCLAT reserves order over NCLT's jurisdiction to implead auditors in IFIN case Jan 10, 2020 07:38 PM IST

    NCLAT reserves order over NCLT's jurisdiction to implead auditors in IFIN case

    The Ministry of Corporate Affairs (MCA) had asked the National Company Law Tribunal (NCLT) to freeze the assets of the former auditors in the case involving alleged fraud in IFIN, a subsidiary of Infrastructure Leasing & Financial Services (IL&FS).

  • MCA says no illegality in conversion of Tata Sons into pvt co; NCLAT reserves order Jan 03, 2020 08:25 PM IST

    MCA says no illegality in conversion of Tata Sons into pvt co; NCLAT reserves order

    A two-member bench of the NCLAT headed by Chairman Justice S J Mukhopadhaya, which reserved its order on the RoC's petition, said it will clarify that the December 18 judgement does not cast aspersions on the RoC and indicated that its order is likely to come on Monday next week.

  • Independent directors get the chills, nearly 1,400 resignations in 2019: Report Dec 26, 2019 04:24 PM IST

    Independent directors get the chills, nearly 1,400 resignations in 2019: Report

    Factors such as increasing liability, fear of frauds, higher number of cases of corporate governance and fear of personal reputation getting tainted have been pointed out as reasons behind the exits.

  • MCA extends IL&FS DMD Bijay Kumar's tenure by one year Dec 24, 2019 02:30 PM IST

    MCA extends IL&FS DMD Bijay Kumar's tenure by one year

    Kumar, an Indian Administrative Officer (IAS) of 1986 batch, was appointed director to the board of lL&FS by the Ministry of Corporate Affairs from December 21, 2018, and then took over as DMD of the group from December 24, 2018, for a period of one year.

  • Policy | Independent directors need training, not eligibility criteria Nov 26, 2019 10:47 AM IST

    Policy | Independent directors need training, not eligibility criteria

    The proficiency self-assessment test instituted by the MCA is unlikely to provide any meaningful solution to board strengthening. There is no denying that boards in India need training but understanding technical subjects will not help directors in taking the right decision.

  • Ministry of Corporate Affairs notifies IBC Rules, 2019: Report Nov 15, 2019 04:14 PM IST

    Ministry of Corporate Affairs notifies IBC Rules, 2019: Report

    The news rules will apply to financial service providers under section 227, the government told CNBC-TV18

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