MCA acts against 169 Cos for not having women directors
PrintListen to this Article
Certain class of listed and unlisted firms are required to have at least one woman director on their boards under the Companies Act, 2013 -- whose most provisions came into effect from April 1, 2014.
"There are 307 companies who have complied with the mandate of law of nominating women to the board of directors. There are 169 companies against whom prosecutions have been launched for failure to nominate women directors," Corporate Affairs Minister Arun Jaitley told the Lok Sabha.
Besides, 16 companies have filed compounding applications against prosecutions for offence relating to non-appointment of women directors, he said in a written reply.
Every company having paid-up share capital of at least Rs 100 crore or a minimum turnover of Rs 300 crore is required to ensure compliance with woman director rules under the Act.
To a query on details of investors in electronic media including prominent news channels, Jaitley said this information is "not available" with the Ministry.
"Industrial activity wise classification of companies do not include 'electronic media' as a specific activity. However, number of active companies covered under television activities as on March 24 stood at 364 with total paid up capital of around Rs 4,044 crore," Jaitley said in a separate written reply. #casansaar (Business Standard)
Category : MCA | Comments : 0 | Hits : 790
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...
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