Corporate Law News
Compliance with the Requirements of Corporate Governance
18 December 2012 at 11:53Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in
253277 companies have not filed their Annual return in 2010-11
14 December 2012 at 16:29De-Registration of Companies During the year 2010-11, 2,53,277 companies have not filed their Balance Sheets and Annual Returns. Giving this information in written reply to a question in the Lok Sabha today Shri Sachin Pilot, Minister of Corpora
Time limit for XBRL filing extended again to 15 Jan 2013
12 December 2012 at 15:54MCA extended time limit of filing Financial Statement in XBRL Mode upto 15 January 2013 General Circular No. 39/2012 12.12.2012
MCA 21 Project - Achievements and Continuation
11 December 2012 at 13:03The Government is implementing an e-governance initiative called MCA 21 Project to ensure the efficiency of the core services regarding company affairs. Giving this information in written reply to a question in the Parliament, Shri Sachin Pilot, M
Incorporation of the Corporate Social Responsibility Provision in the New Companies Bill
11 December 2012 at 13:03Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibilities (CSR) policy and in cas
Independent Regulator for Auditors
05 December 2012 at 12:10The Parliamentary Standing Committee on Finance which examined the Companies Bill, 2009 and the Companies Bill, 2011 had recommended that the National Advisory Committee on Accounting and Auditing Standards (NACAAS), proposed in the Companies Bill
Regulatory Harmony in the Companies Bill, 2011
01 December 2012 at 10:52The suggestions made by Securities and Exchange Board of India (SEBI), through Ministry of Finance, during drafting of the Companies Bill, 2011, with regard to issues relating to regulatory harmony, were duly considered and incorporated therein. G
Investigations by Serious Fraud Investigation Office
01 December 2012 at 10:52Government has said that the Ponzi and Multi-Level Marketing (MLM) schemes fall within the purview of ‘Money Circulation’ which is an offence under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. That Act is administ
Protecting the Interests of Small Investors
01 December 2012 at 10:52The Ministry of Corporate Affairs has received complaints against 3, 65 and 19 companies during 2010-11, 2011-12 and 2012-13 (up to 31-10-2012) respectively which are doing business of money circulation schemes with the promise of giving high retu
Time Taken to Open Business in India
27 November 2012 at 12:04The Government has said that the time taken to register a company has been reduced to 48 hours. Similarly, issue of Director’s Identification Number (DIN) and name availability of company can now be done online within 24 hours. Giving this i
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