MCA Invites public comments to amend Competition Act
PrintListen to this Article
(Competition & NFRA Section)
Invitation for public comments on the Competition Act, 2002.
The Ministry of Corporate Affairs (MCA) constituted a Competition Law Review Committee to review the competition Act/Rules/Regulations in view of changing business environment and bring necessary changes, if required. The Committee will also look into international best practices in the competition fields, especially anti-trust laws, merger guidelines and handling cross border competition issues. It will also study other regulatory regimes/institutional mechanisms/ govt. Policies which overlap with the Competition Act.
2. The updated version of the Competition Act, 2002 is available on the website www.cci.gov.in (Legislation corner). All stakeholders are requested to furnish comments through mail only on the following e-mail Id:- competitionlaw_review@mca.gov.in The comments may be furnished by 7th December, 2018 only.
3. All comments received till this date will be analysed by the Review committee.
Category : MCA | Comments : 0 | Hits : 433
In a relief to India Inc, the Ministry of Corporate Affairs (MCA) has raised the threshold limit for mergers and amalgamations (M&As) that need approval of the Competition Commission of India (CCI). In its latest notification, the MCA has enhanced the threshold value by 150 per cent on the basis of the wholesale price index (WPI) and exchange rate of the rupee. In another notification, the MCA has said that if the acquisition target has an asset value of less than Rs 450 crore or...
The Ministry of Corporate Affairs (MCA) will soon open its Central Processing Centre (CPC) for processing of forms related to all compliances for companies. This is aimed to free up capacity at the offices of Regional Directors and Registrar of Companies to deal with enforcement matters, official sources said. With CPC, the ministry will have launched the fourth centre to focus on specific areas of filing non-straight through process or non-STP forms.
The ministry of corporate affairs in India has granted 1,270 requests from professional associations - including company secretaries and chartered accountants - to deactivate or merge duplicated user IDs in the first month of permitting the move. The move was to allow such professionals to file corporate details via the latest MCA 21 portal, which allows only individual IDs per user. Earlier versions of the software had allowed multiple IDs, leading to filing difficulties.
The Ministry of Corporate Affairs has already struck off hundreds of thousands of shell companies that are often used to funnel black money, the report said quoting sources in the know The Ministry of Corporate Affairs (MCA) is planning to further intensify its crackdown against non-functional (shell) companies, the Economic Times (ET) reported. The MCA has already struck off hundreds of thousands of shell companies that are often used to funnel black money, the report said, quoting source...
MCA to Consult Practitioners on MCA-21 Glitches
With the critical Corporate Affairs Ministry portal, MCA-21, still ridden with glitches, hampering everything from registration of new firms to routine filings by existing firms, the Ministry has decided to hold parleys on the challenges faced by industry. “Stakeholders’ consultations” on the issues related to the MCA-21 Version-3 portal will be steered by the Ministry’s top official, Secretary Manoj Govil, with compliance practitioners in Chennai on June 20 and Hydera...
Comments