Ministry of Corporate Affairs Current Affairs - 2019

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Government relaxes norms for shares with differential voting rights

Union Ministry of Corporate Affairs (MCA) has amended provisions relating to issue of shares with Differential Voting Rights (DVRs) provisions under Companies Act. This move is aimed at enabling promoters of Indian companies to retain control of their companies in their pursuit for growth and creation of long-term value for shareholders, even as they raise Read More…

Month:  Categories: Business, Economy & Banking

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CEA Krishnamurthy Subramanian appointed part-time member in IBBI

Krishnamurthy Subramanian, Chief Economic Adviser (CEA) and B. Sriram, former managing director (MD) and chief executive officer (CEO) of Industrial Development Bank of India (IDBI Bank) were appointed part-time members of Insolvency and Bankruptcy Board of India (IBBI). K Subramanian, an Indian School of Business (ISB) Hyderabad professor was appointed chief economic adviser for a Read More…

Month:  Categories: Business, Economy & BankingPersons in News

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Government plans introducing AI system in MCA 21 portal

The Ministry of Corporate Affairs (MCA) has laid out its plans to introduce artificial intelligence (AI) system in its MCA 21 portal. It will be introduced when Ministry will roll out the Version 3 of the MCA 21. Key Highlights Background: In early 2019, the Ministry of Corporate Affairs sought applications from various service providers Read More…

Month:  Categories: Business, Economy & Banking

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IEPF Authority recovers Rs 1514 Cr of Depositors Money

The Investor Education and Protection Fund (IEPF) Authority in a major success has recovered deposits worth Rs 1,514 crore from Kolkata-based Peerless General Finance and Investment Company. This money of depositors was pending with the company for the last 15 years. Investor Education and Protection Fund Authority Investor Education and Protection Fund (IEPF) was established Read More…

Month:  Categories: Business, Economy & Banking

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MCA Releases National Guidelines on Responsible Business Conduct

The Ministry of Corporate Affairs has formulated the National Guidelines on Responsible Business Conduct (NGRBC) by revising the National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business, 2011 (NVGs). National Guidelines on Responsible Business Conduct National Guidelines on Responsible Business Conduct (NGRBC) urge businesses to actualise the principles in letter and spirit. The Read More…

Month:  Categories: Business, Economy & Banking

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Government makes demat mandatory for issue and transfer of shares

Union Ministry of Corporate Affairs (MCA) has mandatory for unlisted public companies to issue new shares or transfer of all shares in dematerialised or demat (i.e. in electronic form) form beginning October 2, 2018. With this, major benefits of dematerialisation of securities will now be available to unlisted Public companies. Key Facts The Companies Act Read More…

Month:  Categories: Business, Economy & Banking

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Government releases draft on cross-border insolvency resolution

The Ministry of Corporate Affairs has released draft on cross-border insolvency in order to strengthen Insolvency and Bankruptcy Code (IBC). It will help banks access overseas assets of company undergoing resolution. Similarly, Indian authorities will also be required to cooperate with foreign creditors to domestic company. Need The existing IBC provides for two Sections –234 Read More…

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