Corporate Updates – 26-12-2014


MCA has released the detailed note on the initiatives and salient achievements of the MCA in the last six months. The mandate of the Ministry of Corporate Affairs primarily concerns administration of the legal framework within which companies registered in India are to operate along with some other connected matters. Within this mandate rapid strides have been made in the last six months to improve the legal framework, simplify procedures and speed up decision-making for ease of doing business to usher in a healthy environment for investment and corporate growth.

Secretarial Audit:

The ICSI on the basis of the views of company secretaries (in employment as well as in practice) and after taking into consideration of the views of members of Corporate Laws and Governance Committee has released the Scope of Secretarial Audit under Section 204 of the Companies Act, 2013 which requires every listed company and a company belonging to other class of companies as may be prescribed to annex with its Board’s report made in terms of sub-section (3) of section 134. The format of the Secretarial Audit report has been prescribed as Form no. MR. 3.


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