Ministry of Corporate Affairs

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Ministry of Corporate Affairs
Emblem of India.svg
Agency overview
Jurisdiction IndiaRepublic of India
Headquarters Shastri Bhawan
, New Delhi
28°36′50″N 77°12′32″E / 28.61389°N 77.20889°E / 28.61389; 77.20889
Agency executives
Child agencies
Website www.mca.gov.in

The Ministry of Corporate Affairs (MCA) is an Indian government ministry.This Ministry is primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008 & other allied Acts and rules & regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law.[1] It is responsible mainly for regulation of Indian enterprises in Industrial and Services sector. The current minister of corporate affairs is Arun Jaitley. The current Minister of State for Corporate Affairs is Mr. PP Choudhary.

Administration[edit]

The ministry administers the following acts:

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.[2] It replaces The Companies Act, 1956 which has proven outmoded in terms of handling 21st century problems.[3]

The Ministry has constituted a Committee for framing of National Competition Policy (India) and related matters (formulate amendments in the Act) under the Chairmanship of Dhanendra Kumar, former Chairman of Competition Commission of India.[4][5]

See also[edit]

Notes and references[edit]

  1. ^ http://www.mca.gov.in/MinistryV2/about_mca.html
  2. ^ 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.
  3. ^ "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 Aug 2013. Retrieved 16 Aug 2013.
  4. ^ "MCA draft - Ministry Of Corporate Affairs".
  5. ^ "Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".

External links[edit]