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Ministry of Corporate Affairs initiatives and salient achievements in the last six months

Dated:- 28-7-2015 - The mandate of the Ministry of Corporate Affairs primarily concerns administration of the legal framework within which companies registered in India are to operate along with some other connected matters. Within this mandate rapid strides have been made in the last six months to improve the legal framework, simplify procedures and speed up decision-making for ease of doing business to usher in a healthy environment for investment and corporate growth. Attention is invited to .....

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have been issued for smooth implementation of Companies Act, 2013. These notifications have received wide appreciation in the corporate world. To derive greater benefits of outcomes of CSR initiatives, relevant rules have been amended enabling wider spread of CSR funding; new items eligible for funding have also been added to provide impetus to sanitation and environment-related concerns. 2. Providing Greater Clarity in Companies Act, 2013 for Ease of Doing Business To make Company Law even more .....

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pects to deal with frauds detected during the course of audit. 3. Simplification for forms and procedures for Easy Compliance To make compliances and reporting easy and convenient to companies following major initiatives have been taken: Four prescribed forms have been discontinued along with substitution of a simpledeclaration instead of affidavits for several purposes. Procedural requirements for foreign nationals to be Directors in Indian Companies have been drastically reduced. Arrangements .....

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