Ministry of Corporate Affairs
|Jurisdiction||Government of India|
, New Delhi
|Agency executive||Arun Jaitley, Minister of Corporate Affairs|
|Child agencies||Registrar of Companies
Serious Fraud Investigation Office (SFIO)
Securities and Exchange Board of India
Competition Commission of India
Company Law Board
The Ministry of Company Affairs (MCA) is an Indian government ministry. It is charged with administering the The Companies Act, 2013 and other acts related to Indian private sector. It is responsible mainly for regulation of Indian enterprises in Industrial and Services sector. The current minister of corporate affairs is Arun Jaitley.
The ministry administers the following acts:
- The Companies Act, 2013
- The Companies Act, 1956
- The Competition Act, 2002
- The Monopolies and Restrictive Trade Practices Act 1969
- The Chartered Accountants Act, 1949 [As amended by the Chartered Accountants (Amendment) Act, 2006]
- The Company Secretaries Act, 1980 [As amended by The Company Secretaries (Amendment) Act, 2006]
- Cost and Works Accountants Act 1959 [As Amended By The Cost And Works Accountants (Amendment) Act, 2006]
- Companies (Donation to National) Fund Act 1951
- The Indian Partnership Act, 1932
- Societies Registration Act 1860
- The Companies Amendment Act, 2006
- The Limited liability Partnership Act, 2008
In August 2013 The Companies Act, 2013 passed. It will regulate fraud by corporations and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India. It replaces The Companies Act, 1956 which has proven outmoded in terms of handling 21st century problems.
Notes and references
- Jen Swanson (August 15, 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud" ("Dealbook" blog). The New York Times. Retrieved August 16, 2013.
- "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 Aug 2013. Retrieved 16 Aug 2013.
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