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Posted Date : 25-Mar-2013 , 09:56:43 pm | Posted By CASANSAAR
The Competition Commission of India (CCI) has been nominated for ‘Global Competition Review (GCR) Awards 2013’ under the category of “Agency of the Year-Asia-Pacific, Middle East & Africa”. It is very first time that the CCI has been nominated for this internationally pre...
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Posted Date : 24-Mar-2013 , 08:11:09 am | Posted By CASANSAAR
Corporate and financial misdoings are mainly the consequences of multiple regulators that do not have their work defined, Corporate Affairs Minister Sachin Pilot said on Saturday. "There are multiple regulators. Their scope of work is not clearly defined. People misuse the unregulated areas," Pilot...
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Posted Date : 22-Mar-2013 , 08:31:36 am | Posted By CASANSAAR
The government has brought under theCompanies Act foreign companies that operate in the electronic mode but are not registered in India so as to safeguard consumer interest. The move comes against the backdrop of certain foreign entities conducting online activities in India without gettin...
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Posted Date : 22-Mar-2013 , 08:23:47 am | Posted By CASANSAAR
Penal action has been taken against 578 companies in the last three years for irregularities in their balance sheets, government said today. Prosecutions were filed against 54 companies and their officers in the year 2011-12, Minister of Corporate Affairs Sachin Pilot informed th...
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Posted Date : 19-Mar-2013 , 08:28:20 am | Posted By CASANSAAR
With an aim to crackdown on money laundering activities and detect corporate misdoings at an early stage, the Ministry of Corporate Affairs will work closely with the Financial Intelligence Unit besides developing an early warning system at SFIO to detect frauds. Further to strengthen...
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Posted Date : 15-Mar-2013 , 07:52:40 am | Posted By CASANSAAR
The Corporate Affairs Ministry has said companies can invest in tax-free bonds that carry interest rates higher than the prevailing bank rates, a move that would help in attracting more investments into such instruments. Ambiguity over a clause in the Companies Act -- that disallows corpora...
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Posted Date : 11-Mar-2013 , 04:50:21 pm | Posted By CASANSAAR
The government on Monday said at present it does not have data on money spent by companies voluntarily towards social welfare activities. The new Companies Bill, which is awaiting Rajya Sabha approval, requires certain class of firms to spend two per cent of their average profit over the last three...
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Posted Date : 05-Mar-2013 , 08:22:07 am | Posted By CASANSAAR
The corporate affairs ministry today said investigations or inspections have been initiated against 87 companies following complaints against the entities for floating fraudulent investment schemes. Further, to crackdown on entities floating fraudulent investment schemes, the government has asked st...
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Posted Date : 22-Feb-2013 , 10:39:55 pm | Posted By CASANSAAR
The government will give extra time to waive the additional fees on companies following glitches in the electronic filings system MCA-21, Corporate Affairs Minister Sachin Pilot said today. The MCA 21 portal has been facing glitches since the maintenance contract has gone to Info...
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Posted Date : 20-Feb-2013 , 09:14:37 am | Posted By CASANSAAR
In an interesting turn of events, the Ministry of Corporate Affairs (MCA) has roped in Tata Consultancy Services (TCS) as a consultant for smooth running of its portal, MCA21. TCS was in charge of development and management of the portal for seven years, until MCA decided to hand the work of i...
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Posted Date : 14-Feb-2013 , 08:42:43 pm | Posted By CASANSAAR
The Ministry of Corporate Affairs is taking necessary measures to resolve the temporary difficulties that have arisen in the MCA 21 e-Governance portal of the Ministry. At the same time, in order to alleviate the problems faced by stakeholders, the Ministry of Corporate Affairs has issued a Public C...
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Posted Date : 14-Feb-2013 , 04:23:53 pm | Posted By CASANSAAR
The Institute of Company Secretaries of India (ICSI) has broached the idea of a standardised corporate governance rating model. In a presentation to the capital market regulator, the professional body proposed on Tuesday that it was ready to shoulder the responsibility of creating...
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Posted Date : 13-Feb-2013 , 08:28:28 pm | Posted By CASANSAAR
Corporate Affairs Minister Sachin Pilot today said the government is confident of getting the new Companies Bill passed in the Rajya Sabha in the Budget session. "The new Companies Bill will come up in the Rajya Sabha in the Budget session beginning February 21," Pilot said o...
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Posted Date : 31-Jan-2013 , 01:35:42 pm | Posted By CASANSAAR
The Corporate Affairs Ministry expects to soon resolve the glitches in its e-governance initiative MCA-21, now being managed by Infosys. IT bellwether Infosys took over the MCA-21 initiative on January 17 from Tata Consultancy Services. In recent days, there h...
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Posted Date : 30-Jan-2013 , 08:51:08 am | Posted By CASANSAAR
New companies have been unable to get off the ground and existing ones cannot upload mandatory information as a critical government website, MCA 21, has slowed down sharply after a vendor contract switched hands from Tata Consultancy Services (TCS) to Infosys on January...
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Posted Date : 24-Jan-2013 , 06:00:49 pm | Posted By CASANSAAR
The government today asked companies to ensure fair trade practices in their markets and restrain from anti-competitive activities that hurt consumers.To spread more awareness about healthy competition in market place, Corporate Affairs Minister Sachin Pilotalong with officials of fai...
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Posted Date : 13-Jan-2013 , 09:22:31 pm | Posted By CASANSAAR
With two-third of companies in the country being family-owned, independent directors and minority investors need to play a stronger role in ensuring good corporate governance, Corporate Affairs Minister Sachin Pilot has said. "We as a government can only provide the regulatory mechani...
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Posted Date : 10-Jan-2013 , 10:38:04 pm | Posted By CASANSAAR
Nearly 200 listed firms have come under regulatory scanner for discrepancies in their quarterly Corporate Governance Reports, wherein they are required to provide details of compliance with norms governing board of directors, use of public funds and CEO salaries. ...
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Posted Date : 09-Jan-2013 , 08:34:22 pm | Posted By CASANSAAR
The Companies Bill, 2012, as passed by the Lok Sabha on 18th December 2012 is now available on the website of the Ministry of Corporate Affairs at www.mca.gov.in . The Bill is proposed to be considered and passed by the Rajya Sabha in the coming Budget Session of the Parliament. The Rules to be...
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Posted Date : 05-Jan-2013 , 10:10:52 pm | Posted By CASANSAAR
After capping the variable pay of the top brass of stock exchanges and other capital market institutions, the Securities and Exchange Board of India (Sebi) now wants to regulate salaries of CEOs in corporate India. “It may be noted that, on average, the remune...
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Posted Date : 04-Jan-2013 , 09:03:11 am | Posted By CASANSAAR
The Competition Commission of India passed a supplementary order modifying the Apartment Buyers Agreement entered into between DLF and the apartment allottees. This order under Section 27 of the Competition Act, 2002 relates to the order of the Hon’ble Competition Appellate Tribunal of March 2...
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Posted Date : 30-Dec-2012 , 07:01:55 pm | Posted By CASANSAAR
Faced with a growing number of financial frauds, theCorporate Affairs Ministry is setting up a new intelligence unit that will delve into 'data mining' from all possible sources to detect any wrongdoings by the companies and their promoters at the earliest possible stage. "In the Ministry, we ...
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Posted Date : 29-Dec-2012 , 08:36:43 am | Posted By CASANSAAR
Companies from now on will have to provide verifiable details of their directors and office premises in a tightening of rules which is being viewed as significant because of the controversy surrounding the Purti group linked to BJP chief Nitin Gadkari. The new requirement has been prom...
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Posted Date : 26-Dec-2012 , 07:20:38 pm | Posted By CASANSAAR
Amid a growing perception about India Inc doling out huge pay packages to the top management, the government wants the companies to disclose the remuneration paid to promoters and CEOs in perspective of their median staff salary. "Publicly, there is so much debate about the companies spend...
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Posted Date : 23-Dec-2012 , 07:52:28 pm | Posted By CASANSAAR
Calling for a need to define lobbying through a legal framework to differentiate between advocacy and bribery, corporate affairs minister Sachin Pilot has favoured disclosures by companies and industry bodies about their representations to government on specific policy issues. "I think th...
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Posted Date : 20-Dec-2012 , 07:49:22 am | Posted By CASANSAAR
Ø The Bill has 470 clauses as against 658 Sections in the existing Companies Act, 1956. Ø The entire bill has been divided into 29 chapters. Ø Many new chapters have been introduced, viz., Reg...
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Posted Date : 19-Dec-2012 , 01:26:17 pm | Posted By CASANSAAR
Realty major DLF today said it has signed an agreement to sell back luxury hotel chain Amanresorts to the hospitality property's founder and Chairman Adrian Zecha for about USD 300 million (over Rs 1,600 crore).In a filing to the BSE, DLF said the sale of the hotelsand resorts under t...
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Posted Date : 19-Dec-2012 , 07:39:09 am | Posted By CASANSAAR
The Lok Sabha today passed the revised Companies Bill, which had been hanging fire since it was first introduced in the House in August 2008. During the debate over the Bill in the Lower House today, the government re-emphasised that the aim is to protect the interest of employees and small in...
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Posted Date : 17-Dec-2012 , 09:22:44 pm | Posted By CASANSAAR
Compliance with the requirements of Corporate Governance as laid down in the Companies Act is looked into by the Registrars of Companies and suitable action is initiated wherever there is failure to comply with the law. Giving this information in written reply to a question in the Rajya Sa...
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Posted Date : 10-Dec-2012 , 09:55:53 pm | Posted By CASANSAAR
Clause 135 of the Companies Bill, 2011 inter alia, provides for the specified companies to spend at least 2% of the average net profits (of last 3 years) in pursuance of the company’s Corporate Social Responsibilities (CSR) policy and in case of failure, to specify the reasons for not spending...
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- Income Tax Dept serves notices to salaried individuals for documentary proof to claim exemptions
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- CBDT extends due date for filing Form 10A/10AB upto 30th June, 2024
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- NCLT orders insolvency proceedings against Subhash Chandra
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- File Service Tax Return in time as Maximum Penalty increased 10 times to Rs. 20000
