Ministry of Corporate Affairs company details

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Ministry of Corporate Affairs

Ministry of Corporate Affairs company details
Agency overview
JurisdictionGovernment of India
HeadquartersShastri Bhawan, New Delhi, India
Agency executives

  • Nirmala Sitharaman, Minister of Corporate Affairs
  • Rao Inderjit Singh, Minister of State for Corporate Affairs

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 elected 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:

  • The Companies Act, 2013
  • The Companies Act, 1956
  • Insolvency And Bankruptcy Code, 2016
  • The Competition Act, 2002
  • 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][1]
  • The 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 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]

  • Indian Institute of Corporate Affairs (Only for Central Civil Service Staff Training)

National Apex Bodies[edit]

  • Institute of Chartered Accountant of India
  • Institute of Company Secretaries of India
  • Institute of Cost and Management Accountants of India
  • Institution of Valuers

Statutory Professional Body[edit]

  • All India Management Association

Statutory Bodies[edit]

  • Competition Commission of India (CCI)
  • Insolvency and Bankruptcy Board of India (IBBI)
  • Investor Education and Protection Fund Authority (IEPFA)
  • National Company Law Appellate Tribunal (NCLAT)
  • National Company Law Tribunal (NCLT)
  • National Financial Reporting Authority (NFRA)
  • Registrar of Companies
  • Serious Fraud Investigation Office

List of Ministers For Corporate Affairs[edit]

# Name Portrait Term of office Political party
(Alliance)
Prime Minister
1 R. K. Shanmukham Chetty
Ministry of Corporate Affairs company details
15 August 1947 1949 Indian National Congress Jawaharlal Nehru
2 John Mathai
Ministry of Corporate Affairs company details
1949 1950
3 C. D. Deshmukh 29 May 1950 1957
4 T. T. Krishnamachari 1957 13 February 1958
5 Jawaharlal Nehru
Ministry of Corporate Affairs company details
13 February 1958 13 March 1958
6 Morarji Desai
Ministry of Corporate Affairs company details
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
Ministry of Corporate Affairs company details
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
Ministry of Corporate Affairs company details
14 January 1980 15 January 1982 Indian National Congress Indira Gandhi
16 Pranab Mukherjee
Ministry of Corporate Affairs company details
15 January 1982 31 December 1984
17 V. P. Singh
Ministry of Corporate Affairs company details
31 December 1984 24 January 1987 Rajiv Gandhi
18 Rajiv Gandhi
Ministry of Corporate Affairs company details
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
Ministry of Corporate Affairs company details
10 November 1990 21 June 1991 Samajwadi Janata Party
(National Front)
Chandra Shekhar
23 Manmohan Singh
Ministry of Corporate Affairs company details
21 June 1991 16 May 1996 Indian National Congress P. V. Narasimha Rao
24 Jaswant Singh
Ministry of Corporate Affairs company details
16 May 1996 1 June 1996 Bharatiya Janata Party Atal Bihari Vajpayee
25 P. Chidambaram
Ministry of Corporate Affairs company details
1 June 1996 21 April 1997 Tamil Maanila Congress
(United Front)
H. D. Deve Gowda
26 I.K. Gujral
Ministry of Corporate Affairs company details
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
Ministry of Corporate Affairs company details
30 November 2008 24 January 2009
29 Veerappa Moily
Ministry of Corporate Affairs company details
26 June 2012 31 July 2012
30 Sachin Pilot
Ministry of Corporate Affairs company details
31 July 2012 26 May 2014
31 Arun Jaitley
Ministry of Corporate Affairs company details
26 May 2014 30 May 2019 Bharatiya Janata Party
(National Democratic Alliance)
Narendra Modi
33 Nirmala Sitharaman
Ministry of Corporate Affairs company details
30 May 2019 Incumbent

List of Ministers of State[edit]

Minister of statePortrait Political party Term Days
Nirmala Sitharaman
Ministry of Corporate Affairs company details
Bharatiya Janata Party 26 May 2014 9 November 2014 167 days
Arjun Ram Meghwal
Ministry of Corporate Affairs company details
5 July 2016 3 September 2017 1 year, 60 days
P. P. Chaudhary
Ministry of Corporate Affairs company details
3 September 2017 30 May 2019 1 year, 269 days
Anurag Thakur
Ministry of Corporate Affairs company details
30 May 2019 7 July 2021 3 years, 183 days
Rao Inderjit Singh
Ministry of Corporate Affairs company details
7 July 2021 Incumbent 1 year, 145 days

See also[edit]

  • Registrar of Companies, India
  • List of company registers
  • Indian Institute of Corporate Affairs
  • Ministry of Cooperation (India)
  • Ministry of Co-operation (India)

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".

  • Official website

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Where is the ministry of corporate affairs?

Paryavaran Bhawan, CGO Complex, Lodhi Road, New Delhi- 110003.

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