Ministry of corporate Affairs Role and Functions

The Ministry of Corporate Affairs is an Indian government ministry. It is primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, Insolvency and Bankruptcy Code, 2016 & other allied Acts and rules & regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law. It is responsible mainly for regulation of Indian enterprises in Industrial and Services sector. Ministry is mostly served by the Indian Corporate Law Service officers’ cadre (ICLS). These officers are being selected through Civil Services Examination Conducted by UPSC. Brilliant talent pool of the country serves MCA in different capacities. The highest post of DGCoA is being fixed at Apex Scale for the ICLS.

Primary Role:

• Administering the Competition Act of 2002 to prevent practices that adversely affect competition, promote and sustain competition in markets, and to safeguard consumer interests through the Commission established under the Act.
• Supervising the three professional bodies, namely the Institute of Chartered Accountants of India (ICAI), Institute of Company Secretaries of India (ICSI), and the Institute of Cost Accountants of India (ICAI), established under the different Acts of Parliament.
• Executing the functions of the Central Government with respect to the administration of Partnership Act, 1932, the Companies (Donations to National Funds) Act, 1951 and the Societies Registration Act, 1980.

Autonomous Bodies

• Indian Institute of Corporate Affairs (IICA)
• National Foundation of Corporate Governance (NFCG)
• National Foundation of Corporate Social Responsibility (under IICA)

Professional Bodies

• Institute of Company Secretaries of India (ICSI)
• The Institute of Chartered Accountant of India (ICAI)
• Institute of Cost Accountants of India (ICoAI)

Statutory Bodies

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

Attached Offices

• Serious Fraud Investigation Office(SFIO)

Stakeholders:

• The corporate sector, which includes all companies and LLPs
• Professionals, the likes of whom include Cas, CSs, ICWAs, Advocates, etc
• Investors
• Banks
• Other Government Ministries/Departments
• State Governments
• Citizens of India

Functions

• Incorporation of a company.
• Checking the availability of a name proposed by a new company and approving the name-change of the existing company (also read – Fast Company Name Approval, Removal of Company Name from MCA Database
• Registration of companies that are unregistered.
• Registration of a place of business in India by a company incorporated in India.
• Registration for changing the objects of a company.
• Conversion of Private Company to Public Company and vice versa.
• Conversion of unlimited company into a limited company, i.e. limited by shares/guarantee.
• Registration of a Prospectus.
• Registration of charge creation/modification and the satisfaction of charge.
• Condonation of delayed filing of charge creation/modification and satisfaction of charge.
• Extension of time for holding Annual General Meeting (AGM).
• Registration of Court, NCLT or RD order.
• Issuing of certified copies of company documents.
• Issuance of Director Identification Number (DIN).
• Change in particulars of Director Identification Number (DIN).
• Conversion of a company into Limited Liability Partnership.
• Shifting of a registered office of the company from one state to another.
• Shifting of a company’s registered office from one RoC to another within the state.
• Granting licenses to Section 8 Companies.
• Making decisions connected with the appointment/reappointment, as well as remuneration/waiver for excess remuneration paid to managing/whole-time director(s) or manager.
• Investor Grievance Redressal/CPGRAMS (Centralized Public Grievance Redressal and Monitoring System).
• Other grievances or complaints related to MCA-21.
• Seeking status of Company as dormant.
• Seeking status of the company as active.
• Registration of intimation concerning the appointment of a manager.
• Condonation of delay under section 460 of the Companies Act, 2013.
• Acquiring/Associating/Updating DSC (Digital Signature Certificate).
• Enquiring DIN (Director Identification Number) and verifying the DIN PAN details of the Director.
• Services related to master data.
• LLP services.
• Services related to e-filing.
• Handling of complaints.
• Documentation services.
• Fee and Payment Services.
• Investor Services.