Sep 23, 2021 04:29 PM IST
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".
- Sep 08, 2021 11:36 PM IST
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.
- Sep 01, 2021 12:39 PM IST
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).
- Aug 27, 2021 07:36 PM IST
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."
- May 04, 2021 05:23 PM IST
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.
- Apr 22, 2021 07:41 PM IST
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.
- Mar 08, 2021 09:01 PM IST
The Ministry of Corporate's official statistics show that 68,463 companies closed down in FY20.
- Jan 02, 2021 02:27 PM IST
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.
- Dec 02, 2020 01:12 PM IST
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
- Sep 08, 2020 07:57 PM IST
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.
- Aug 27, 2020 01:37 PM IST
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.
- Aug 20, 2020 01:18 PM IST
The Ministry of Corporate Affairs advised the Registrar of Companies to consider such applications liberally in view of the hardships faced by the stakeholders.
- Jun 10, 2020 01:05 PM IST
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.
- May 25, 2020 03:50 PM IST
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".
- May 05, 2020 08:51 PM IST
The ministry also allowed companies to send their financial statements and other required documents required via email.
- Apr 07, 2020 08:58 AM IST
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.
- Mar 04, 2020 05:00 PM IST
The Ministry of Corporate Affairs' western regional director office has ordered an inspection under Section 206 of the Company's Act.
- Mar 02, 2020 09:40 PM IST
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.
- Jan 16, 2020 10:30 PM IST
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.
- Jan 10, 2020 07:38 PM IST
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).
- Jan 03, 2020 08:25 PM IST
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.
- Dec 26, 2019 04:24 PM IST
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.
- Dec 24, 2019 02:30 PM IST
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.
- Nov 26, 2019 10:47 AM IST
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.
- Nov 15, 2019 04:14 PM IST
The news rules will apply to financial service providers under section 227, the government told CNBC-TV18