Ministry of Corporate Affairs
From GovernIndia
Recent press releases from the Ministry.
Contents |
Major Successes
Electronic filing of all company records
Until a few years ago, filing of regulatory paperwork with the MCA used to be a daunting task. Since there were strict deadlines for submission of papers, etc., there was rampant bribery in the system. Even when filing was being done on time, bribes had to be paid for the papers to be accepted. On the other hand, in case of late submissions, bribes were used to get papers filed in back-date, etc. With electronic filing, most manual interaction has been bypassed and therefore, opportunities for bribery have been significantly reduced. This is a significant step forward in terms of governance.
Open Issues
Satyam Fraud
- Probe into PriceWaterhouse
- Re-thinking the responsibilities/powers of independent directors