The Ministry of Corporate Affairs is an

Indian government The Government of India (ISO: ; often abbreviated as GoI), known as the Union Government or Central Government but often simply as the Centre, is the national government of the Republic of India, a federal democracy located in South Asia, ...

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 elected through the

Civil Services Examination The Civil Services Examination (CSE) is a national competitive examination in India conducted by the Union Public Service Commission for recruitment to higher Civil Services of the Government of India, including the Indian Administrative Se ...

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 Nirmala Sitharaman (born 18 August 1959) is an Indian economist and politician serving as the Minister of Finance and Corporate Affairs of India since 2019. She is a member of the Rajya Sabha, upper house of the Indian Parliament, since 2014. S ...

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 Competition Act, 2002 was enacted by the Parliament of India and governs Indian competition law. It replaced the archaic The Monopolies and Restrictive Trade Practices Act, 1969. Under this legislation, the Competition Commission of India wa ...

* The Monopolies and Restrictive Trade Practices Act, 1969 * The Chartered Accountants Act, 1949 s amended by the Chartered Accountants (Amendment) Act, 2006 * The Company Secretaries Act, 1980 s amended by The Company Secretaries (Amendment) Act, 200

* The Cost and Works Accountants Act, 1959

s Amended By The Cost And Works Accountants (Amendment) Act, 2006 S, or s, is the nineteenth letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''ess'' (pronounced ), plural ''esses''. History ...

* 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 Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language ...

such as the

Satyam scandal The Satyam Computer Services scandal was India's largest corporate fraud until 2010. The founder and directors of India-based outsourcing company Satyam Computer Services, falsified the accounts, inflated the share price, and stole large sums ...

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 Dhanendra Kumar (born 1946) is a civil servant who was the first Chair of Competition Commission of India (CCI). Kumar formerly served as Executive Director at World Bank. Biography Born in 1946, Kumar joined the Indian Administrative Service ...

, former Chairman of

Competition Commission of India The Competition Commission of India (CCI) is the chief national competition regulator in India. It is a statutory body within the Ministry of Corporate Affairs and is responsible for enforcing the Competition Act, 2002 to promote competition ...

Training Academies

Indian Institute of Corporate Affairs The Indian Institute of Corporate Affairs (IICA) is a central civil service training institute under the jurisdiction of Ministry of Corporate Affairs, Government of India for the central civil servants of the Indian Corporate Law Service ca ...

(Only for Central Civil Service Staff Training)

National Apex Bodies

* 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

All India Management Association All India Management Association (AIMA) is the national apex body of the management profession in India. A not for profit, non-lobbying organisation, working closely with Industry, Government, Academia and students to further the cause of the m ...

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 A company register is a register of organizations in the jurisdiction they operate under. A statistical business register has a different purpose than a company register. While a commercial/trade register serves a purpose of protection, accounta ...

Serious Fraud Investigation Office The Serious Fraud Investigation Office (SFIO) is a statutory corporate fraud investigating agency in India. Initially, it was set up by a resolution adopted by the Government of India on 2 July 2003 and carried out investigations within the exist ...

Administration

Training Academies

National Apex Bodies

Statutory Professional Body

Statutory Bodies

List of Ministers For Corporate Affairs

List of Ministers of State

See also

References

External links