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Panel suggests automatic CCI approvals for deals under insolvency law

Wednesday, August 14, 2019, 5:27 PM

Suggesting substantial changes to competition regulatory framework, a government-constituted high level panel has recommended a green channel route for automatic approval of certain combinations, including those under the insolvency law, by the Competition Commission. Under the Competition Act, combinations (mergers and acquisitions) beyond a certain threshold require clearance from the Competition Commission of India (CCI).
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Company directors will have to sit for exams in India after scandals

Wednesday, June 12, 2019, 6:12 PM

Independent directors on company boards will soon have to clear an exam before they can be appointed, said Injeti Srinivas, the top bureaucrat in charge of corporate affairs. "We want to demolish the myth that independent directors don't have any fiduciary duty," Srinivas said. The online exam will cover the basics of Indian company law, ethics, and capital market norms.
 
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Corporate affairs ministry to collect KYC details of companies, CAs

Sunday, January 6, 2019, 9:00 PM

In efforts to weed out unscrupulous elements, the Corporate Affairs Ministry plans to collect KYC details of companies, chartered accountants, cost accountants and company secretaries. A senior ministry official said the exercise would help in having a "sanitised list" of companies and professionals. Corporate Affairs Secretary Injeti Srinivas said that KYC requirement for directors was a major step.

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