Ministry of Corporate Affairs The Insolvency and Bankruptcy Board of India (IBBI) celebrated its Fifth Annual Day here today. Dr. Bibek Debroy, Chairman, Economic Advisory Council to Hon’ble Prime Minister graced the occasion as the Chief Guest. Shri Rajesh Verma, Secretary, Ministry of Corporate Affairs and Dr. Krishnamurthy Subramanian, Chief Economic Adviser, Ministry of Finance were Guests…
IBBI to celebrate its 5th Annual Day on 1st Oct. 2021
Ministry of Corporate Affairs The Insolvency & Bankruptcy Board of India (IBBI) will celebrate its 5th Annual Day on 1st October, 2021. Dr. Bibek Debroy, Chairman, Economic Advisory Council to the Prime Minister, Shri Narendra Modi, will grace the occasion as the Chief Guest and will deliver the Annual Day Lecture on “From No Exit to Easy Exit…
Consultation Paper on Statutory Audit and Auditing Standards for Micro, Small and Medium Companies (MSMCs)
Ministry of Corporate Affairs India is unique among the big economies of the world in statutorily mandating compulsory audit for all companies, irrespective of their size and characteristics. In view of the significant role played by companies in India in the economic growth and development of the Nation, it is essential that the regulatory environment…
CCI approves proposed acquisition of 10.4% of equity shareholding of Gangavaram Port Limited (GPL) by Adani Ports and Special Economic Zones Limited (APSEZ)
Ministry of Corporate Affairs The Competition Commission of India (CCI) approves proposed acquisition of 10.4% of equity shareholding of Gangavaram Port Limited (GPL) by Adani Ports and Special Economic Zones Limited (APSEZ). The proposed combination envisages acquisition of 10.4% of the shareholding in GPL (i.e., the entity operating Gangavaram port) by APSEZ from from the…
Chartered Accountants (Election to the Council) amended Rules, 2021
MINISTRY OF CORPORATE AFFAIRS NOTIFICATION G.S.R. 584(E).—In exercise of the powers conferred by clause (a) of sub-section (2) of section 29A read with clause (a) of sub-section (2) of section 9 of the Chartered Accountants Act, 1949 (No. 38 of 1949), the Central Government hereby makes the following rules further to amend the Chartered Accountants…
NFRA draws conclusion on comments received on consultation paper on enhanced engagement with stakeholders
Ministry of Corporate Affairs National Financial Reporting Authority (NFRA) was established by the Central Government in October 2018 with the fundamental objective of driving systemic change in the Indian Financial Reporting System for Public Interest Entities (PIEs)s. NFRA has identified engagement with various categories of stakeholders as central in its strategy to deliver on its public…
Cabinet approves Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR)
Ministry of Corporate Affairs The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi, has approved the signing Memorandum of Understanding between Institute of Chartered Accountants of India (ICAI) and Institute of Professional Accountants of Russia (IPAR). Details: Approval for signing Memorandum of Understanding between the Institute of Chartered Accountants of India (ICAI) and…
CCI imposes Rs 200 crore penalty on Maruti for restricting discounts by dealers
Ministry of Corporate Affairs The Competition Commission of India (CCI) passed a final order against Maruti Suzuki India Limited (MSIL) for indulging in anti-competitive conduct of Resale Price Maintenance (RPM) in the passenger vehicle segment by way of implementing Discount Control Policy vis-à-vis dealers, and accordingly, imposed a penalty of ₹200 crore (Rupees Two Hundred Crore Only) upon MSIL,…
Increasing Cooperative Activities in Agriculture Sector
Ministry of Cooperation Assistance is provided under Central Sector Integrated Scheme on Agricultural Cooperation (CSISAC) scheme through National Cooperative Development Corporation (NCDC) for promoting, developing and financing cooperatives undertaking various agriculture and allied activities. These comprise, inter alia, marketing, storage and processing of agricultural produce besides supply of agricultural inputs. Subsidy to the tune of…
Mandate of The Ministry
Ministry of Cooperation Functions allocated to the Ministry of Cooperation as per the Government of India (allocation of Business) Rules, 1961 are given below: General Policy in the field of Co-operation and Co-ordination of co-operation activities in all sectors. Note: - The Ministries concerned are responsible for Co-operatives in the respective fields. 2. Realisation of…