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Corporate Affairs Ministry News

Limited Liability Partnerships

15 Feb 2022

Corporate affairs ministry amends rules for LLPs

Among other requirements, prior to adjudging the penalty for a violation, an adjudicating officer concerned has to issue a show-cause notice to LLP, partner or any other person concerned. The rules will be effective from April 1, 2022. Last year, various provisions under the LLP Act were decriminalised.

Corporate Affairs Ministry

23 Jul 2021

Centre changes rules related to incorporation of companies

Section 16 relates to rectification of a company name subject to various conditions. 'At the end of June, there were 13.7 lakh registered companies that were active in the country. Out of them, more than 17,200 new companies were set up during April to June this year.

Corporate Affairs Ministry

14 Mar 2019

Corporate Affairs Ministry formulates guidelines on responsible biz conduct

The Ministry has also constituted the Committee on Business Responsibility Reporting (BRR) to develop BRR formats for listed and unlisted companies.

Unlisted public companies

11 Sep 2018

Unlisted companies to issue new shares in demat form from October 2

The decision also comes at a time when the ministry is clamping down on shell companies that are suspected of being conduits for illicit fund flows.

Insolvency and Bankruptcy Code

23 Nov 2017

IBC Ordinance to have no impact on valuation of assets under resolution: SBI chief

The President today gave his assent to the Ordinance amending the Insolvency & Bankruptcy Code, 2016.

23 Nov 2017

Govt working on data mining of deregistered companies

Amid the clampdown on the black money menace, names of more than 2.24 lakh companies have been struck off from the records.

Insolvency and Bankruptcy Code

23 Nov 2017

Insolvency and Bankruptcy Code 2016: Check out gist of the amendments

The IBC became operational in December 2016 and provides for a time-bound insolvency resolution process.

Insolvency and Bankruptcy Code

23 Nov 2017

President approves ordinance on Insolvency and Bankruptcy Code

The ordinance was approved by the cabinet on Wednesday.

Kingfisher Airlines

22 Nov 2017

Kingfisher case: SFIO gets nod for filing prosecution cases

In its detailed report on the matter submitted to the ministry recently, the Serious Fraud Investigation Office (SFIO) flagged various violations by individuals and entities related to the now-defunct Kingfisher Airlines, which was owned by Mallya.

Insolvency and Bankruptcy Code

22 Nov 2017

Govt to come out with ordinance to tighten insolvency law

The Code, which became operational in December last year, provides a market-determined and time-bound insolvency resolution process. Over 300 cases have already been approved by the National Company Law Tribunal (NCLT) to be taken up under the law, implemented by the corporate affairs ministry.

Shell companies

13 Sep 2017

Auditors come under lens amid crackdown on shell companies

Government said more than 1.06 lakh directors would be disqualified for their association with shell companies.

06 Jul 2017

Amazon invests over Rs 2,000 crore in India business

Global e-tailing giant Amazon has invested over Rs 2,000 crore (over USD 310 million) in India in the last two months as it looks to consolidate its position in the country and fend off local rivals like Flipkart

Corporate Affairs Ministry

18 Jun 2017

Govt portal MCA21 came under WannaCry attack

The corporate affairs ministry's key portal for making filings by companies -- MCA21 -- came under WannaCry ransomware attack last month, affecting certain services.

04 Jun 2017

SFIO to trawl social media for leads on corporate frauds

The government's white-collar crime investigation agency SFIO is developing a new system, which will trawl social media platforms for leads on any possible fraud-in-making.

02 Jun 2017

Nearly 3 lakh companies likely to face strict government action

The government has issued show cause notices to nearly 3 lakh firms that have not been carrying out business for long and are likely to face strict action starting this month.

23 May 2017

SFIO developing early warning system to detect corporate frauds

The government's white-collar crime investigation agency SFIO is developing a new system for early detection of corporate frauds and to safeguard gullible investors from fly-by-night operators.

Infrastructure Investment Trusts

14 May 2017

Govt exempts InvITs from acceptance of deposit norms

Infrastructure Investment Trusts have been exempted from the ambit of acceptance of deposit rules under the companies law, a move that is expected to ease the compliance requirements for the investment vehicle.

27 Apr 2017

13,000 inactive companies come under government lens

Nearly 13,000 companies have come under the government scanner for not carrying out business activities for a prolonged time amid stepped up efforts to clamp down on illicit fund flows through shell firms.

03 Apr 2017

Govt asks companies to disclose details about junked notes

The government has asked companies to disclose details about transactions involving scrapped notes post demonetisation till December 30.

10 Mar 2017

Nexus among politicians, business houses reported in some scams: Govt

The nexus among politicians, bureaucrats, and business houses have been reported in some instances of corporate scams, the government said on Friday.

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