As per information from Insolvency and Bankruptcy Board of India (IBBI), details for the period from 01.04.2020 to 31.12.2020 of the number of companies declared bankrupt in the country after the lockdown was imposed due to COVID-19 pandemic is as under: 283 firms were admitted into corporate insolvency resolution process (CIRP). 76 CIRPs ended in resolution, 128 CIRPs were closed ...

The Competition Commission of India (CCI) here today organised the Sixth National Conference on Economics of Competition Law through virtual mode. Shri N. K. Singh, Chairman, Fifteenth Finance Commission was the Keynote Speaker at the Conference. Mr Ashok Kumar Gupta, Chairperson, CCI, delivered the Special Address at the Inaugural Session and Dr. Sangeeta Verma, Member, CCI opened the Conference with ...

The Competition Commission of India (CCI) approves acquisition by Bank of India (“BOI”) of BOI AXA Investment Managers Private Limited (“BOIAXA IM”) and BOI AXA Trustee Services Private Limited (“BOIAXA TS”) under Section 31(1) of the Competition Act, 2002, today. The proposed combination involves the acquisition of 49 % of the total share capital of BOI AXA IM & BOI ...

The Competition Commission of India (CCI) approves subscription to securities of Ecom Express Private Limited by CDC Group plc. The proposed combination envisages subscription tosecurities of Ecom Express Private Limited(Ecom) by CDC Group plc. (CDC). CDCis a Development Finance Institution, wholly owned by the UK Government, which provides capital to private sector entrepreneurs in developing countries. Ecom, a company incorporated ...

The number of companies incorporated from April, 2020 till December, 2020 (COVID 19 period) in the Financial Year 2020-21 (till 31-12-2020) compared to corresponding period from April, 2019 to December, 2019 in the Financial Year 2019-20 (till 31-12-2019) has actually increased by about 21% as is evident from the following details: Number of New Companies Incorporated Increase in percentage (%) ...

As per records available with the Ministry of Corporate Affairs (MCA), 4,73,131 number of Indian Companies and 1,065 number of Foreign Companies have been benefited by availing the Companies Fresh Start Scheme (CFSS), 2020 for filing their pending documents. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to ...

With the object of unleashing the entrepreneurial spirits of our youth and to remove the fear of criminal prosecutions for non- substantive minor and procedural omissions and commissions in the normal course of their business transactions, the Government of India in the Ministry of Corporate Affairs (MCA) decided to initiate the process of decriminalization of compoundable offences under the limited ...

As a measure which directly benefits Startups & Innovators in the country, especially those who are supplying products & services on e-commerce platforms, and in order to bring in more unincorporated businesses into the organized corporate sector, the incorporation of One Person Companies (OPCs) is being incentivized by amending the Companies (Incorporation) Rules to allow OPCs to grow without any ...

In line with the vision of the Government of India, the definition under the Companies Act, 2013 for Small Companies has now been revised by increasing their thresholds for Paid up capital from “not exceeding Rs 50 lakh” to “not exceeding Rs 2 crore” & Turnover from “not exceeding Rs 2 crore” to “not exceeding Rs 20 crore” (Click Here ...

The Competition Commission of India (CCI) approves the acquisition of stake by Axis Bank Limited, Axis Capital Limited and Axis Securities Limited in Max Life Insurance Company Limited. Axis Bank Limited provides services in retail banking, which includes retail lending and retail deposits, wholesale banking, payment solutions, wealth management, forex and remittance products, distribution of mutual fund schemes and distribution ...