Ministry of Corporate Affairs: GK, Current Affairs, Questions, Trivia and News

MCA proposes decriminalisation of compoundable offences under LLP Act

The Ministry of Corporate Affairs (MCA) has proposed to decriminalise certain compoundable offences under the Limited Liability Partnership (LLP) Act. These offences include minor, procedural or technical violations. This is to enhance ease of doing business in India to law abiding LLPs. The ministry listed 20 sections of the LLP Act in a public draft ..

High-level panel to prepare an investigation manual for SFIO

The government has recently constituted a 12-membered high-level panel recently set up to prepare an investigation manual for Serious Fraud Investigation Office (SFIO). As per the recent order issued by the Corporate affairs ministry, Corporate Affairs Secretary Injeti Srinivas would chair the panel. The committee will devise a comprehensive manual for performing effective investigations and ..

Ministry of Corporate affairs notifies CARO 2020

The Union Ministry of Corporate affairs recently notified the Companies (Auditor’s Report) Order, 2020 (CARO 2020). As per the notification, all listed companies should mandatorily disclose all whistle-blower complaints to the auditor and the complaints should be mentioned in the audit reports. This mandate would be applicable to all audits from the financial year starting from ..

Spice+ web form

The union ministry of corporate affairs recently notified the SPICe+ web form, to replace the SPICe form. This is aimed at improving the ease of doing business in India. What is SPICe+ web form? The SPICe+ web form stands for Simplified Proforma for Incorporating Company Electronically Plus. It was launched with the view of improving ..

What is the Insolvency and Bankruptcy Code, 2016 (IBC)?

The Insolvency and Bankruptcy Code, 2016 (IBC) is the bankruptcy law of India which was passed by the Parliament in May 2016 to consolidate the existing framework for Insolvency and Bankruptcy by creating a single law. The IBC code is designed in a way such that it provides a one-stop solution for resolving insolvencies which ..

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 ..

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 ..

IEPFA signs MoU with BOB for Investor Awareness

The Investor Education and Protection Fund Authority (IEPFA) and Bank of Baroda have signed a Memorandum of Understanding(MoU) for Investor Awareness at New Delhi on 4th December 2019. Investor Education and Protection Fund (IEPF) is for the protection of the interests of investors and for the promotion of investor’s awareness.IEPF was established by the Ministry ..