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. 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 ]].
|Jurisdiction||Republic of India|
, New Delhi
The ministry administers the following acts:
- The Companies Act, 2013
- The Companies Act, 1956
- Insolvency And Bankruptcy Code, 2016
- 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.
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.
Lists of Minister of State ministers Ministry of Corporate AffairsEdit
|n||Name||Portrait||Term of office||Political party
|1||Liaquat Ali Khan||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|
|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|
|9||Sachindra Chaudhuri||1965||13 March 1967||Lal Bahadur Shastri|
|10||Indira Gandhi||1967||1971||Indira Gandhi|
|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||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|
|36||Anurag Singh Thakur||2019|
- 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.
- "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 August 2013. Retrieved 16 August 2013.
- "MCA draft - Ministry Of Corporate Affairs".
- "Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".
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