Companies Act: GK, Current Affairs, Questions, Trivia and News

Corporate Social Responsibility

Corporate social responsibility (CSR) is a modern business practice. It aims to achieve a medium of self-regulation in which the company or the corporation is encouraged to be more socially accountable to the public. What is CSR? CSR is the practice whereby a corporate invests some of its profits back into the social development projects ..

SPV s to Aid Direct Funding for Universities

Ten high-performing state universities are now setting up special purpose vehicles companies to receive the funds directly from the Central government. This model is being explored to cut the red tape. How the new Model would work? The selected universities are required to create a special purpose vehicle (SPV) under the Companies Act. These campus ..

Injeti Srinivas heads committee on review of penal provisions of Company Act 2013

The committee, chaired by Corporate Affairs Secretary Injeti Srinivas, has recently submitted final report on review of penal provisions of Company Act 2013 to the Union Minister for Finance & Corporate Affairs, Arun Jaitley. The Committee recommended that the existing rigour of the law should continue for serious offences, covering six categories, whereas for lapses ..

Union Cabinet approves establishment of NFRA to oversee auditors

The Union Cabinet has approved the establishment of National Financial Reporting Authority (NFRA). The NFRA will act as an independent regulator for the auditing profession which was one of the key changes brought in by the Companies Act 2013. The jurisdiction of NFRA for investigation of Chartered Accountants and their firms will be extended to ..