Tag: Ministry Corporate Affairs

Revised Threshold Limits for Mergers and Acquisitions Under India’s Competition Act

The Ministry of Corporate Affairs (MCA) has raised the threshold limit for mergers and acquisitions requiring approval from the Competition Commission of India (CCI). This new limit is based on the wholesale price index and exchange rate of rupee, and has been increased by 150 per cent. Additionally, MCA has exempted mergers or acquisitions with an asset value below Rs 450 crore or turnover less than Rs 1,250 crore from CCI approval, for a duration of two years from the date of publication in the official gazette.

These regulations are outlined in Section 5 of the Competition Act, which defines ‘Combination’ under the Act and specifies the criteria for determining thresholds in cases of acquisition, control taking, mergers, or amalgamations.

New MCA Form To Effective From 1st June 2022

Vide Notification dated 20th May 2022, the Ministry of Corporate Affairs (MCA) has notified Companies (Incorporation) Second Amendment Rules, 2022.

Through this amendment, the Ministry has substituted Form No. INC-9. The new form will be effective from 1st June 2022.

To Download the Notification, Please Click Here

 

Shri Rao Inderjit Singh appointed as Union Minister of State in Ministry of Corporate Affairs

Shri Rao Inderjit Singh took charge as Union Minister of State in the Ministry Corporate Affairs (MCA), here today. Before taking charge as Union Minister of State for MCA, Shri Singh already held the position of Union Minister of State (Independent Charges) for the Ministry of Statistics and Programme Implementation as also for the Ministry of Planning.

Shri Singh is a Member of Parliament (MP) from Gurgaon constituency in Haryana in the 17th Lok Sabha. He is currently serving his 5th term as an MP.  Active in public service for over 4 decades, Shri Singh was earlier a Member of Legislative Council (MLA) from Jatusana Vidhan Sabha in Haryana and served as Minister in state Government of Haryana.                        

Shri Singh has done graduation and LL.B from Delhi University. Shri Singh, an advocate and agriculturist by profession, is 71 years old and is also an active political and social worker. Shri Singh is a descendent of Rao Tula Ram, Freedom Fighter of India’s 1st War of Independence in 1857.