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, 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
- The Company Secretaries Act, 1980
- The Cost and Works Accountants Act, 1959
- Companies Fund Act, 1951
- The Indian Partnership Act, 1932
- Societies Registration Act, 1860
- The Companies Amendment Act, 2006
- The Limited liability Partnership Act, 2008
The Ministry has constituted a Committee for framing of National Competition Policy and related matters under the Chairmanship of Dhanendra Kumar, former chairman of Competition Commission of India.
Training academies
National apex bodies
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