Ministry of Corporate Affairs

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Ministry of Corporate Affairs
Branch of Government of India
Ministry of Corporate Affairs
Agency overview
JurisdictionGovernment of India
HeadquartersShastri Bhawan, New Delhi, India
Agency executives
Websitewww.mca.gov.in

The Ministry of Corporate Affairs is an Indian government ministry primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016.[1]

It is responsible mainly for the regulation of Indian enterprises in the industrial and services sector. The ministry is mostly run by civil servants of the ICLS cadre. These officers are selected through the Civil Services Examination conducted by Union Public Service Commission. The highest post, Director General of Corporate Affairs (DGCoA), is fixed at Apex Scale for the ICLS. The current minister is Nirmala Sitaraman.

Administration[edit]

The ministry administers the following acts:

In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives 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]

Training academies[edit]

National apex bodies[edit]

Statutory professional bodies[edit]

Statutory bodies[edit]

List of ministers for corporate affairs[edit]

# Name Portrait Term of office Political party
(Alliance)
Prime Minister
1 R. K. Shanmukham Chetty 15 August 1947 1949 Indian National Congress Jawaharlal Nehru
2 John Mathai 1949 1950
3 C. D. Deshmukh 29 May 1950 1957
4 T. T. Krishnamachari 1957 13 February 1958
5 Jawaharlal Nehru 13 February 1958 13 March 1958
6 Morarji Desai 13 March 1958 29 August 1963
7 T. T. Krishnamachari 29 August 1963 1965 Jawaharlal Nehru

Lal Bahadur Shastri

8 Sachindra Chaudhuri 1965 13 March 1967 Lal Bahadur Shastri

Indira Gandhi

9 Indira Gandhi 1967 1971 Indira Gandhi
10 Yashwantrao Chavan 1971 1975
11 Chidambaram Subramaniam 1975 1977
12 Haribhai M. Patel 24 March 1977 24 January 1979 Janata Party Morarji Desai
13 Charan Singh 24 January 1979 28 July 1979
14 Hemvati Nandan Bahuguna 28 July 1979 14 January 1980 Janata Party (Secular) Charan Singh
15 R. Venkataraman 14 January 1980 15 January 1982 Indian National Congress Indira Gandhi
16 Pranab Mukherjee 15 January 1982 31 December 1984
17 V. P. Singh 31 December 1984 24 January 1987 Rajiv Gandhi
18 Rajiv Gandhi 24 January 1987 25 July 1987
19 N. D. Tiwari 25 July 1987 25 June 1988
20 Shankarrao Chavan 25 June 1988 2 December 1989
21 Madhu Dandavate 2 December 1989 10 November 1990 Janata Dal
(National Front)
V. P. Singh
22 Yashwant Sinha 10 November 1990 21 June 1991 Samajwadi Janata Party
(National Front)
Chandra Shekhar
23 Manmohan Singh 21 June 1991 16 May 1996 Indian National Congress P. V. Narasimha Rao
24 Jaswant Singh 16 May 1996 1 June 1996 Bharatiya Janata Party Atal Bihari Vajpayee
25 P. Chidambaram 1 June 1996 21 April 1997 Tamil Maanila Congress
(United Front)
H. D. Deve Gowda
26 I.K. Gujral 21 April 1997 22 May 2004 Janata Dal
(United Front)
I. K. Gujral
27 Prem Chand Gupta 22 May 2004 30 November 2008 Indian National Congress
(United Progressive Alliance)
Manmohan Singh
28 H. R. Bhardwaj 30 November 2008 24 January 2009
29 Veerappa Moily 26 June 2012 31 July 2012
30 Sachin Pilot 31 July 2012 26 May 2014
31 Arun Jaitley 26 May 2014 30 May 2019 Bharatiya Janata Party
(National Democratic Alliance)
Narendra Modi
33 Nirmala Sitharaman 30 May 2019 Incumbent

List of ministers of state[edit]

Minister of state Portrait Political party Term Days
Bedabrata Barua Indian National Congress 1969 1970 1 year
Nirmala Sitharaman Bharatiya Janata Party 26 May 2014 9 November 2014 167 days
Arjun Ram Meghwal 5 July 2016 3 September 2017 1 year, 60 days
P. P. Chaudhary 3 September 2017 30 May 2019 1 year, 269 days
Anurag Thakur 30 May 2019 7 July 2021 4 years, 302 days
Rao Inderjit Singh 7 July 2021 Incumbent 2 years, 264 days

See also[edit]

References[edit]

  1. ^ "About MCA".
  2. ^ Jen Swanson (15 August 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud" ("Dealbook" blog). The New York Times. Retrieved 16 August 2013.
  3. ^ "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 August 2013. Retrieved 16 August 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]