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Ministry of Corporate Affairs

Government ministry of India

Summary

Government ministry of India

Field	Value
agency_name	Ministry of Corporate Affairs
seal	Government of India logo.svg
seal_width	100px
seal_caption	Branch of Government of India
jurisdiction	Government of India
headquarters	Shastri Bhawan, New Delhi, India
chief1_name	Nirmala Sitharaman
chief1_position	Minister of Corporate Affairs
chief2_name	Harsh Malhotra
chief2_position	Minister of State for Corporate Affairs
website
logo	Ministry of Corporate Affairs India.svg
logo_size	250px
logo_caption	Ministry of Corporate Affairs

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.

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 selected 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

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]https://www.mca.gov.in/Ministry/actsbills/pdf/The_Companies_Secretaries_Amendment_Act_2006.pdf
The Cost and Works Accountants Act, 1959 [As Amended By The Cost And Works Accountants (Amendment) Act, 2006]https://lddashboard.legislative.gov.in/sites/default/files/A1959-23.pdf
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. 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.

Training academies

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

National apex bodies

Indian Institutes of Management

Statutory professional bodies

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

Statutory bodies

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

#	Name	Portrait	Term of office	Duration	Political party
(Alliance)	Prime Minister
1	R. K. Shanmukham Chetty	[[File:R._Shanmukham_Chetty.jpg	92x92px]]	15 August 1947	1949		Indian National Congress
2	John Mathai	[[File:John_Mathai.jpg	103x103px]]	1949	1950
3	C. D. Deshmukh	[[File:CD Deshmukh (cropped).jpg	83x83px]]	29 May 1950	1957
4	T. T. Krishnamachari	[[File:T. T. Krishnamachari Lok Sabha photo.jpg	96x96px]]	1957	13 February 1958
5	Jawaharlal Nehru	[[File:Bundesarchiv_Bild_183-61849-0001,_Indien,_Otto_Grotewohl_bei_Ministerpräsident_Nehru_cropped.jpg	120x120px]]	13 February 1958	13 March 1958
6	Morarji Desai	[[File:Morarji Desai 1978b.jpg	101x101px]]	13 March 1958	29 August 1963
7	T. T. Krishnamachari	[[File:T. T. Krishnamachari Lok Sabha photo.jpg	96x96px]]	29 August 1963	1965		Jawaharlal Nehru
Lal Bahadur Shastri
8	Sachindra Chaudhuri	[[File:Sachindra Chaudhuri (1966) (cropped).jpg	90x90px]]	1965	13 March 1967		Lal Bahadur Shastri
Indira Gandhi
9	Indira Gandhi	[[File:Indira_Gandhi_1977.jpg	106x106px]]	1967	1971		Indira Gandhi
10	Yashwantrao Chavan	[[File:Yashwantrao Chavan.jpg	94x94px]]	1971	1975		Indian National Congress (R)
12	Haribhai M. Patel	[[File:Hirubhai M. Patel Lok Sabha photo.jpg	89x89px]]	24 March 1977	24 January 1979		Janata Party
13	Charan Singh	[[File:Prime minister Charan Singh (cropped).jpg	99x99px]]	24 January 1979	28 July 1979
14	Hemvati Nandan Bahuguna	[[File:Hemwati Nandan Bahuguna stamp (cropped).jpg	85x85px]]	28 July 1979	14 January 1980		Janata Party (Secular)
15	R. Venkataraman	[[File:R_Venkataraman_(cropped).jpg	97x97px]]	14 January 1980	15 January 1982		Indian National Congress (I)
16	Pranab Mukherjee	[[File:Pranab_Mukherjee-World_Economic_Forum_Annual_Meeting_Davos_2009_crop(2).jpg	112x112px]]	15 January 1982	31 December 1984
17	V. P. Singh	[[File:V._P._Singh_(cropped).jpg	100x100px]]	31 December 1984	24 January 1987		Rajiv Gandhi
18	Rajiv Gandhi	[[File:Rajiv_Gandhi_(1987).jpg	100x100px]]	24 January 1987	25 July 1987
19	N. D. Tiwari	[[File:Shri Narayan Dutt Tiwari.jpg	93x93px]]	25 July 1987	25 June 1988
20	Shankarrao Chavan	[[File:Shankarrao Chavan 2007 stamp of India (cropped).jpg	87x87px]]	25 June 1988	2 December 1989
21	Madhu Dandavate	[[File:Madhu Dandavate Lok Sabha photo.jpg	95x95px]]	2 December 1989	10 November 1990		Janata Dal
(National Front)
22	Yashwant Sinha	[[File:Yashwant_Sinha_IMF.jpg	108x108px]]	10 November 1990	21 June 1991		Samajwadi Janata Party
(National Front)
23	Manmohan Singh	[[File:Prime_Minister_Manmohan_Singh_in_WEF_,2009_(cropped).jpg	103x103px]]	21 June 1991	16 May 1996		Indian National Congress (I)
24	Jaswant Singh	[[File:Jaswant_Singh_(cropped).jpg	102x102px]]	16 May 1996	1 June 1996		Bharatiya Janata Party
25	P. Chidambaram	[[File:Pchidambaram_(cropped).jpg	105x105px]]	1 June 1996	21 April 1997		Tamil Maanila Congress
(United Front)
26	I.K. Gujral	[[File:Inder_Kumar_Gujral_071.jpg	110x110px]]	21 April 1997	22 May 2004		Janata Dal
(United Front)
27	Prem Chand Gupta		22 May 2004	30 November 2008		Indian National Congress
(United Progressive Alliance)
28	H. R. Bhardwaj	[[File:Hans Raj Bhardwaj.png	111x111px]]	30 November 2008	24 January 2009
29	Veerappa Moily	[[File:Veerappa Moily BNC.jpg	111x111px]]	26 June 2012	31 July 2012
30	Sachin Pilot	[[File:Sachin Pilot at the India Economic Summit 2010 cropped.jpg	111x111px]]	31 July 2012	26 May 2014
31	Arun Jaitley	[[File:Arun_Jaitley,_Minister.jpg	111x111px]]	26 May 2014	30 May 2019		Bharatiya Janata Party
(National Democratic Alliance)
32	Nirmala Sitharaman	[[File:Smt. Nirmala Sitharaman addressing a press conference on June 28, 2021, in New Delhi (cropped).jpg	111x111px]]	30 May 2019	Incumbent

List of ministers of state

Minister of state	Portrait	Political party	Term	Days
Bedabrata Barua		Indian National Congress	Indian National Congress}}"		1969
Nirmala Sitharaman	[[File:Nirmala Sitharaman in September 2018.jpg	100px]]	Bharatiya Janata Party		26 May 2014
Arjun Ram Meghwal	[[File:Shri Arjun Ram Meghwal taking charge as the Minister of State for Water Resources, River Development and Ganga Rejuvenation, in New Delhi on September 04, 2017.jpg	100px]]	5 July 2016	3 September 2017
P. P. Chaudhary	[[File:P.P. Chaudhary delivering the inaugural address at the Plenary Session of the three-day International Competition Network Annual Conference 2018 (ICN2018), organised by the Competition Commission of India, in New Delhi.jpg	100px]]	3 September 2017	30 May 2019
Anurag Thakur	[[File:Anurag Thakur.jpg	100px]]	30 May 2019	7 July 2021
Rao Inderjit Singh	[[File:Shri Inderjit Singh Rao taking charge as the Minister of State (Independent Charge) for Planning, in New Delhi on May 27, 2014.jpg	100px]]	7 July 2021	Incumbent

References

"About MCA".
Jen Swanson. (August 15, 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud". The New York Times.
(8 Aug 2013). "Parliament passes Companies Bill 2012(Update)". [[Business Standard]].
"MCA draft - Ministry Of Corporate Affairs".
"Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".

Wikipedia Source

This article was imported from Wikipedia and is available under the Creative Commons Attribution-ShareAlike 4.0 License. Content has been adapted to SurfDoc format. Original contributors can be found on the article history page.

ministry-of-corporate-affairs government-ministries-of-india government-ministries-established-in-1946

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