In a bid to prevent Chinese companies from circumventing Indian laws to do business in the country, the government has come up with a notification that requires land border-sharing nations' citizens who are appointed as directors on boards of companies to obtain a security clearance.   According to a notification issued by the Ministry of Home Affairs on June 1, if a person from countries that share a land border is seeking an appointment in an Indian company, "nece...

Lok Sabha on Saturday passed a bill to further amend the Companies Act and decriminalise various compoundable offences as well as promote ease of doing business in the country. The Companies (Amendment) Bill, 2020 seeks to decriminalise various penal provisions, permit direct overseas listing of Indian corporates and introduce a new chapter related to producer organisations in the legislation. Reduction in penalties for certain offences as well as in timeline for rights issues, relaxation ...

  The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today. MCA either directly or through Regional Directors (RDs)/ Registrar of Companies (ROCs) receive complaints against companies from public (Individual/entities), from other Ministries etc., which are ex...

The Supreme Court has issued non-bailable warrants against managing directors of 32  companies for not complying with its order. The managing directors now face imminent arrest and will have to be produced in the top court by the Mumbai Police if they fail to get preventive orders. The list of defaulting companies includes Akshar Mercantile, Beta Trading, Vinay Mercantile, Anoop Multitrade, Anshul Mercantile, Everfame Trading, Highzone Trading, Inorbit Trading Co., Laksh Mercantile, M...

The government is set to decriminalise two-thirds of the Companies Act as it looks to do away with jail term in over 40 sections out of the 66 where compounding is permitted. Besides, the ministry of corporate affairs, which is pushing the change, is also seeking to lower the penalty for small companies, sources told TOI. The move is expected to benefit around eight lakh of the 11 lakh registered Indian companies which have a turnover of up to Rs 2 crore and a paid-up capital of Rs 50 lakh or...