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Companies Act News
Modi Cabinet clears Companies Act Amendment Bill 2019, wants 5-year ban for CEOs, directors of fraud-hit firms
Thu, Jul 18, 2019
Companies Act Amendment Bill 2019 Features: Union Cabinet-led by Prime Minister Narendra Modi on Wednesday approved the Companies (Amendment) Bill, 2019.
Company owner? Govt may replace 60-year old rules; see what is in store
Fri, May 17, 2019
A new set of rules being prepared by the Ministry of Corporate Affairs will soon allow the government to wind up firms on extraordinary grounds, including national security, sovereignty and integrity of the country,
Crime no longer soon! Big relief for businessmen on these 16 corporate offences
Fri, Nov 02, 2018
The maximum number of defaults (around 6,000) under the Companies Act have been on account of non-filing of financial statement and annual report. The law provides for a fine of Rs 50,000 with a maximum of Rs 5 lakh or an imprisonment of up to six months or both.
Artificial Intelligence will be introduced soon in MCA 21: PP Choudhary, MoS Corporate Affairs
Tue, Sep 25, 2018
PP Choudhary, MoS Corporate Affair & Law & Justice Minister, in an exclusive interview with Zee Business, said there is no definition for cell companies under the Companies Act, however, Section 248 provides provisions to strike off such companies that fail in filling its annual financial results.
CSR portal ensures transparency and accountability: Govt
Sat, Feb 10, 2018
Section 135 (5) read with Section 134 (3) (o) of companies Act mandates the board to disclose in its report, the CSR policy developed and implemented by a company
Govt plans review of functioning of independent directors
Sun, Jan 14, 2018
The corporate affairs ministry is also looking to bolster the regime for independent directors
196 companies face penal action for CSR violations: Government
Tue, Jan 02, 2018
A total of 5,870 companies shelled out Rs 9,553.72 crore towards CSR activities in 2014-15 while the number of such firms and total money spent rose in the next fiscal.
Mistry firms seek to amend plea in Mumbai NCLT against Tatas
Fri, Nov 03, 2017
Cyrus Investments and Sterling Investments filed the amendment pleas, after the National Company Law Appellate Tribunal (NCLAT) on September 21 asked it to approach the Mumbai NCLT.
Up to 10-year jail for siphoning shell firms' money: Centre
Thu, Sep 07, 2017
"It has been decided that in case director/authorised signatory of any struck-off company tries to unauthorisedly siphon off money from its bank account, he/she may attract imprisonment of not less than six months and extendable to 10 years," a Finance Ministry statement here said.
200 LLPs under govt scanner, what does it mean?
Wed, Aug 16, 2017
Sending out a strong message to shell companies, the government decided to deregister 200 Limited Liability Partnership (LLPs).
Sebi asks bourses to act against 331 suspected shell companies
Tue, Aug 08, 2017
The regulator's directive came after the corporate affairs ministry shared a list of 331 listed companies that are suspected to be shell entities and could even face "compulsory delisting".
CBI unearths 393 shell companies used to divert Rs 2,900 crore
Sun, May 07, 2017
According to sources, CBI has uncovered 393 shell companies which were used to divert loan funds meant for specified purposes, creating fake invoices, and "round-tripping" of funds to evade taxes and generate black money.
Here are key things to know about Infosys share buyback plan
Fri, Feb 24, 2017
Find out the key things about Infosys share buyback plan.
Over 530 companies may face action for CSR norm violations
Sun, Jan 29, 2017
More than 530 firms have come under the scanner of the government for violating CSR spending norms under the companies law and are likely to face action.
Tata-Mistry Saga: Sebi finds no violations, mulls stricter norms
Thu, Jan 26, 2017
Amidst the Tata-Mistry battle, Sebi plans to form stricter norms for removal of independent directors.
Tata Sons says Cyrus Mistry allegations reflect deep animosity towards Ratan Tata
Tue, Dec 20, 2016
Tata Sons will contest case filed by Cyrus Mistry against them.
Top four firms corner 26% of audit business in India
Mon, Sep 19, 2016
'Big 4 auditing firms’ - Deloitte, Ernest & Young Group, KPMG and Price Waterhouse Group (PwC) continue to dominate the Indian market with 26% share by volume and 30% by overall fee.
Jaitley directs senior officials for faster implementation of Bankruptcy Code
Tue, Aug 23, 2016
Jaitley here on Tuesday held a meeting of senior officers of the ministry to review the implementation of IBC 2016.
Online biz cos to give contact details on their portals: Govt
Sun, Jul 31, 2016
Companies conducting online business will now have to provide on their websites details about their registration with the government as well as information about person to be contacted for grievances.
Aggrieved investors can file class action suits: NCLT
Sun, Jun 05, 2016
Aggrieved investors can now file class action lawsuits against corporates for misdoings and even seek compensation from auditors concerned, following the establishment of the National Company Law Tribunal (NCLT).