Revised combination assessment timelines under competition law soon: MCA
NEW DELHI: The revised timelines proposed in the competition law will help in making the assessment of combinations swift and time-bound as well as provide certainty to businesses, according to the Ministry of Corporate Affairs (MCA). A bill to amend the Competition Act is now being examined by the Parliamentary Standing Committee on Finance. One […]
MCA extends deadline for submission of cost audition report till November
NEW DELHI: In a circular, the Ministry of Corporate Affairs (MCA) said that the decision has been taken in the wake of the pandemic. “In view of the extraordinary disruption caused due to the pandemic, it has been decided that if cost audit report for the financial year 2019-20 by the cost auditor to the […]
MCA maiden success in recovery of $3.25 million in Nirav Modi case from USA
NEW DELHI: Punjab National Bank Ltd. (PNB) has informed the Ministry of Corporate Affairs (MCA) which spearheaded the corporate governance litigation in a foreign jurisdictional Court, that it has received $ 3.25 million (equivalent of Rs. 24.33 crore) as the first tranche of recoveries. Upon liquidation of the debtors’ assets by the US Chapter 11 […]
SEBI, MCA probing PWC’s resignation as auditor of Reliance Home Finance
NEW DELHI: Regulator SEBI and the Ministry of Corporate Affairs are looking into the sudden resignation of PWC as auditor of Reliance Capital and Reliance Home Finance and have asked the stock exchanges to collect all necessary information including trade details and statements made by the three entities. The development assumes significance in the wake […]