Ministry of Finance The Government of India and the Asian Infrastructure Investment Bank (AIIB) today signed a loan agreement for a $304 million Assam Intra-State Transmission System Enhancement Project to improve reliability, capacity and security of the power transmission network in the State of Assam. The project aims to strengthen Assam’s electricity transmission system by constructing…
CCI approves various acquisition proposals by PGP Glass Private Limited
Ministry of Corporate Affairs The Competition Commission of India (CCI) approves acquisition by PGP Glass Private Limited (Acquirer) of (i) the business of manufacture and sale of glass packaging and glass decoration of Piramal Glass Private Limited (PGPL); (ii) shareholding of PGPL in its certain subsidiaries engaged in the business of manufacture and / or…
CCI approves acquisition of Tata Communications Limited by Panatone Finvest Limited
Ministry of Corporate Affairs The Competition Commission of India (CCI) approves acquisition by Panatone Finvest Limited (“Acquirer”) of Tata Communications Limited (“TCL”) under Section 31(1) of the Competition Act, 2002, today. The Proposed Combination envisages the proposed acquisition of such shareholding not exceeding 26.12% by the Acquirer in the Target (“Proposed Combination”). As a result…
CCI approves acquisition of API Holdings Private Limited equity shareholding by CDPQ Private Equity Asia Pte. Ltd.
Ministry of Corporate Affairs The Competition Commission of India (CCI) approves acquisition by CDPQ Private Equity Asia Pte. Ltd. (‘CDPQ/Acquirer’) of equity shareholding of API Holdings Private Limited (‘API Holdings/Target’) under Section 31(1) of the Competition Act, 2002, today. The combination envisages an acquisition of approximately 2% shareholding in the Target by the Acquirer along…
Incorporation of Companies in current fiscal increased 21% as compared to corresponding period in previous fiscal
Ministry of Corporate Affairs The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to corresponding period from April, 2019 to December, 2019 in the Financial Year 2019-20 (till 31-12-2019) has actually increased by about 21% as is evident from the following details:…
Investor Education and Protection Fund Authority signs MoU with IGNOU for utilising tele lecturing facility of Gyan Darshan channel
Ministry of Corporate Affairs The Investor Education and Protection fund Authority (IEPFA) and Indira Gandhi National Open University (IGNOU) here today signed a Memorandum of Understanding (MoU) for collaboration in utilising the tele-lecturing facility of Gyan Darshan Channel (EPMC) for telecast of Investor Awareness Programmes (IAPs) through distance learning mode. “IGNOU has carved a niche for itself…
MCA21 Version 3.0 to be launched in Fiscal 2021-22
Ministry of Corporate Affairs During the fiscal 2021-22, the Ministry of Corporate Affairs (MCA) will launch data analytics driven MCA21 Version 3.0. This Version will have additional modules for e-Adjudication, e-Consultation and Compliance Management. MCA21 system is the first Mission Mode e-Governance project of Government of India. MCA21 V3 Project is a technology-driven forward looking…
MCA amends One Person Companies (OPCs) rules
Ministry of Corporate Affairs As a measure which directly benefits Startups & Innovators in the country, especially those who are supplying products & services on e-commerce platforms, and in order to bring in more unincorporated businesses into the organized corporate sector, the incorporation of One Person Companies (OPCs) is being incentivized by amending the Companies…
MCA initiates process of De-criminalisation of compoundable offences under Limited Liability Act, 2008
Ministry of Corporate Affairs With the object of unleashing the entrepreneurial spirits of our youth and to remove the fear of criminal prosecutions for non- substantive minor and procedural omissions and commissions in the normal course of their business transactions, the Government of India in the Ministry of Corporate Affairs (MCA) decided to initiate the…
CCI approves acquisition of Altico Capital India Ltd (Altico) by Ares SSG Capital Management (Singapore) Pte. Ltd (Ares SSG)
Ministry of Corporate Affairs The Competition Commission of India (CCI) approves acquisition of Altico Capital India Ltd (Altico) by Ares SSG Capital Management (Singapore) Pte. Ltd (Ares SSG) under Section 31(1) of the Competition Act, 2002, today. The Proposed Combination relates to the acquisition of Altico’s loan assets by India Special Situations Scheme II…