Cabinet approves proposal to allow direct listing of overseas Indian companies

The Cabinet recently approved a proposal to allow direct listing of Indian companies overseas. Appropriate amendment would be made in the Companies Act, 2013 for the same. Very few Indian companies have Global Depository Receipts (GDRs) and only some have American Depository Receipts (ADRs) which can be traded in the US. A Depository receipt is ..

Topics: Cabinet of India • Companies Act 2013 • Government of India

Cabinet Approval: To amend Companies Act, 2013

On March 4, 2020, the Union Cabinet approved 72 changes to the Companies Act, 2013. The main aim of the amendment is to decriminalize the provisions in the act. Highlights The amendment aims to recategorize 23 offences and omit 7 compoundable offences. Under the amendment, the companies with Corporate Social Responsibility (CSR) obligation of less ..

Month: Current Affairs - March, 2020

Category: Legal & Constitution Current Affairs

Topics: Acts and Amendments • Bills and Acts • CLAT • Companies Act 2013 • Corporate social responsibility (CSR) • Foreign exchange reserves • Foreign investments • Injeti Srinivas Committee • Union Cabinet • Union Cabinet Decisions

Steps taken to provide Ease of Doing Business in India

The Ministry of Corporate Affairs (MCA) has taken several landmark decisions and initiatives during this year with the objective of providing greater Ease of Doing Business to all stakeholders and to further enhance the efficiency of the processes under the Companies Act of 2013. Some of the steps are: Integrated Incorporation Form- Simplified Proforma for ..

Category: India Nation & States Current Affairs

Topics: CCI • Companies Act 2013 • databank • Ease of Doing Business • Ministry of Corporate Affairs

National Financial Reporting Authority submits first report since constitution

The National Financial Reporting Authority (NFRA) issued its first audit report of IL&FS Financial Services Limited for the year 2017-18. It is the first report submitted by the authority since its constitution in October 2018. The audit was conducted abiding Section 13(2) of the companies act, 2013 and NFRA rules, 2018. Highlights Prior to NHRA, ..

Month: Current Affairs - December, 2019

Category: Economy & Banking Current Affairs

Topics: Auditing • Bad Loans • Companies Act 2013 • Financial Assistance • Investment • National Financial Reporting Authority • Non Performing Assets (NPA)

Education sector received the maximum CSR funds from 2014-15 to 2017-18

The Union Minister of State for Finance and Corporate Affairs, Anurag Singh Thakur in a written reply to Rajya Sabha on Tuesday, 10th December 2019 informed that the Educational sector has received the maximum Corporate social responsibility(CSR) spent during the financial years from 2014-15 to 2017-18. A grand total of Rs 15,742.33 crores have been ..

Category: Reports & Indexes Current Affairs

Topics: Anurag Singh Thakur • Companies Act 2013 • Corporate Social Responsibility • educational sector • Ministry of Corporate Affairs • Rajya Sabha • Schedule VII • Union Minister of State for Finance and Corporate Affairs