Ministry of Corporate Affairs

The Ministry of Corporate Affairs is an Indian government ministry. It is primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, Insolvency and Bankruptcy Code, 2016 & 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. Ministry is mostly served by the Indian Corporate Law Service officers cadre (ICLS). These officers are being selected through Civil Services Examination Conducted by UPSC. Brilliant talent pool of the country serves MCA in different capacities. The highest post of DGCoA is being fixed at Apex Scale for the ICLS. The current Minister of State for Corporate Affairs is [[Nirmala Sitaraman ]].

Ministry of Corporate Affairs
Emblem of India.svg
Agency overview
JurisdictionIndiaRepublic of India
HeadquartersShastri 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
Websitewww.mca.gov.in

AdministrationEdit

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]

Autonomous BodiesEdit

Professional BodiesEdit

Statutory BodiesEdit

Attached OfficesEdit

MinistersEdit

Lists of Minister of State ministers Ministry of Corporate AffairsEdit

n Name Portrait Term of office Political party

(Alliance)

Prime Minister
1 Liaquat Ali Khan

(Interim government)

  29 October 1946 14 August 1947 All-India Muslim League Jawaharlal Nehru(Vice President of the interim govt)
2 R. K. Shanmukham Chetty   15 August 1947 1949 Indian National Congress Jawaharlal Nehru
3 John Mathai   1949 1950
4 C. D. Deshmukh 29 May 1950 1957
5 T. T. Krishnamachari 1957 13 February 1958
6 Jawaharlal Nehru   13 February 1958 13 March 1958
7 Morarji Desai   13 March 1958 29 August 1963
8 T. T. Krishnamachari 29 August 1963 1965 Jawaharlal Nehru

Lal Bahadur Shastri

9 Sachindra Chaudhuri 1965 13 March 1967 Lal Bahadur Shastri

Indira Gandhi

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

(United Progressive Alliance)

Manmohan Singh
29 H. R. Bhardwaj 30 November 2008 24 January 2009
30 Veerappa Moily 26 June 2012 31 July 2012
31 Sachin Pilot 31 July 2012 26 May 2014
32 Arun Jaitley   26 May 2014 26 May 2017 Bharatiya Janata Party(National Democratic Alliance) Narendra Modi
33 P. P. Chaudhary 2017 2017
34 Piyush Goyal 2018 2019
35 Nirmala Sitharaman 2019 2019
36 Anurag Singh Thakur 2019

See alsoEdit

ReferencesEdit

  1. ^ http://www.mca.gov.in/MinistryV2/about_mca.html
  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 linksEdit