View: Startups deserve their long overdue 'Gabba Moment'
Most importantly, they are the largest creators of jobs. Based on a 2010 study in the US (bit.ly/2Nww1C9) of data since 1977, the Kauffman Foundation found that net new job growth came only from startups. For India, which needs to create 10 million jobs annually, startups are clearly what the doctor ordered.
Annual general meetings, extraordinary general meetings may go virtual permanently
Since March last year, the ministry has granted multiple r...
Tripartite agreement signed among MECL, RSMML and DMG for solution mining potash in Rajasthan
Rajasthan has huge potash and halite resources ...
Govt asks Antrix to file petition to wind up Devas Multimedia
The Ministry of Corporate Affairs has cited a rule in the Companies Act, 1956 that allows a petitioner to file for the winding up of a company if it has, in the petitioner’s opinion, been formed for “fraudulent and unlawful purposes”.
Company incorporations grow 20% year-on-year during April-December 2020: MCA
Data from the ministry of corporate affairs (MCA) showed that 1.13 lakh companies were incorporated during the first nine months of the ongoing fiscal compared to 93,758 incorporations till December in FY20. The reason behind the sharp growth was the progression of smaller firms and LLPs towards forming companies as growth picked up along with improved facilitation through digital services, a senior government official said.
NCLT directs IBBI, lenders to investigate into the affairs of Lotus Auto Engineering
The development is likely to set a precedent as an order to investigate into the conduct of the Resolution Professional (RP) and the Committee of Creditors (CoC) of the company to ascertain whether they have done their duty well.
View: Arrests for alleged tax evasion isn't a joke, time taxman gets a new textbook
Given the fact that arrest under tax laws has become a fairly regular affair, it is necessary that GoI comes out with detailed guidelines on situations where arrests can be resorted to. Such a safeguard is necessary, so that the honest taxpayers do not end up worrying whenever there is a knock on the door.
Smartphone makers miffed over delay in roll out of production-linked incentive scheme
Officials blame the delay on a confusion over whether each application which would attract incentives over Rs 1,000 crore needs cabinet approval or not.
Govt extends deadline for CFSS, LLP schemes till the end of this year
The MCA had introduced the schemes in March that provided companies and LLPs with an opportunity to make good on any delays in filings and reduced the burden of additional fees to enable them to be fully compliant with the law.
Corporate offenders will not face imprisonment for procedural, technical or minor offences
So far, 48 sections of the Act have been decriminalised and 23 of the remaining 66 compoundable offences can be dealt with by an in-house adjudicating mechanism. Total penal provisions under the Act have been brought down to 124 from 134 earlier. Fines for various offences have also been brought down in the latest set of changes.
Companies Act amendments notified; various offences decriminalised
The latest amendments coming to effect from Monday also allowed a certain class of public companies to list overseas directly, increasing the range of foreign funds Indian companies can access.
Corporate Affairs Minister extends deadline for various schemes amid COVID-19
The corporate affairs ministry has extended the Companies Fresh Start Scheme and the LLP Settlement Scheme, besides allowing companies to conduct EGMs (extraordinary general meetings) and board meetings through video conference or other audio-visual means till end of this year.
Company incorporations hit 7-year high of 16,487 in July: Ministry of corporate affairs
In one of the clearest signs of a pick-up in business sentiment, company incorporations touched a seven-year high of 16,487 in July, or 530 a day, according to data from the ministry of corporate affairs.
Ministry of corporate affairs notifies investigation rules for cases against NCLT judges
As per the procedure laid down, the committee shall submit its findings to the President of India. If the President finds that any charges of misbehaviour or incapacity warrant an inquiry, he shall request the Chief Justice of India (CJI) to nominate a judge of the Supreme Court to conduct the inquiry.
Corporate affairs secretary Rajesh Verma appointed as IEPFA chairman
The IEPFA was established in September 2016 to make refunds of shares, unclaimed dividends, matured deposits/debentures from the Investor Education Protection Fund to investors and to promote awareness among investors.