MCA:
The Ministry of Corporate Affairs has notified sub-section (5), sub-section (6) (except with respect to the manner of administration of the Investor Education and Protection Fund) and sub-section (7) of section 125 of the Companies Act, 2013 w.e.f. 13th January, 2016. An authority consisting of a Chairperson, members and CEO is being constituted to administer the Investor Education and Protection Fund, maintenance of accounts and other relevant records of the Investor Education and Protection Fund.
Startup India, Standup India Scheme:
Prime Minister Shri. Narender Modi has announced the much awaited and talked about scheme with the name ‘StartupIndia, Standup India’. The “Starup India” vision has traversed a long distance in terms of policies and support to entrepreneurs across the length and breadth of the country. This scheme has been specially designed to boost entrepreneurship in the country. The Conditions for taking benefits of Startup Scheme is that, it must be an entity registered/incorporated as a Private Limited Company, Registered Partnership firm or Limited Liability Partnership and five years must not had elapsed from the date of incorporation/registration. Startup must be working towards innovation, development, deployment or commercialization of new products, processes or services driven by technology or intellectual property. Key benefits of the scheme includes, tax exemptions, Labour law relaxations etc.
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