Ministry of Corporate Affairs Current Affairs, GK & 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 ..

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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 ..

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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 ..

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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 ..

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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 ..

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