Latest news with #CorporateAffairsMinistry
NDTV
7 days ago
- Business
- NDTV
Centre Introduces Bill To Amend Insolvency Law In Lok Sabha
New Delhi: Finance Minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha to amend the insolvency law. After the introduction, the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 was referred to a select committee of the House following a request from the minister. The insolvency law is being implemented by the Corporate Affairs Ministry, which is also helmed by Sitharaman. The Code, introduced in 2016, has undergone six legislative interventions since its enactment and the last amendment was made in 2021.
Economic Times
11-08-2025
- Business
- Economic Times
House panel favours phased adoption of proposed digital competition law to regulate Big Tech
A parliamentary committee suggests a phased approach to the digital competition law. The law aims to regulate Big Tech companies. The committee wants to prevent inadvertently capturing domestic firms. They propose a rebuttal mechanism for companies. The Corporate Affairs Ministry supports timely action against anti-competitive practices. The Competition Commission of India wants a balanced approach. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The Parliamentary Standing Committee on Finance has pitched for a 'nuanced, phased, and evidence-based' approach in the implementation of a proposed digital competition law with an ex-ante framework to regulate the Big Tech companies, taking into account capacity constraints of the antitrust its report submitted with the Lok Sabha on Monday, the panel headed by senior BJP leader Bhartruhari Mahtab also favoured the inclusion of new provisions in the Digital Competition Bill (DCB), aligning with global panel has suggested that the corporate affairs ministry refine the DCB's thresholds and designation mechanisms—which would be used to identify systemically significant digital enterprises (SSDEs) for ex-ante regulations—to 'prevent inadvertent capturing of fast-growing domestic firms'.The panel has also recommended the introduction of a 'rebuttal mechanism' in exceptional cases, similar to the one adopted by the EU, to enable companies to contest their SSDE designation by the ministry of corporate affairs (MCA), in its submission with the house panel in April, said quick adaptation to new digital trends, 'ensuring a timely response to emerging anti-competitive practices and ex-ante evaluation of competitive behaviour in digital markets to pre-empt and prevent the emergence of monopolistic structures is the need of the hour'.The ministry has also shared various concerns expressed by stakeholders about select provisions of the draft its part, the Competition Commission of India has told the panel that the ex-ante regulatory framework 'should reflect a balanced approach so as to achieve the objective of competitive digital markets without stifling innovation'.'Only the largest of the technology behemoths with systemic significance should come within its ambit and the ex-ante obligations should target/prevent only such conduct that are unambiguously anti-competitive,' it month, minister of state for corporate affairs Harsh Malhotra told the Lok Sabha that the government would undertake market studies to build "an evidence-based foundation" to introduce an ex-ante year, a high-level official panel led by then corporate affairs secretary Manoj Govil had suggested a new antitrust law with an ex-ante framework to regulate only the had submitted with the MCA a draft digital competition bill, along with its report, for consideration. The government was supposed to assess the draft bill and the report before firming up its own bill after due process of consultations.
Time of India
30-07-2025
- Business
- Time of India
Govt plans fresh pilot for PM Internship scheme as candidate dropouts remain high
The government plans to launch another pilot phase of the Pradhan Mantri Internship scheme soon. This precedes a larger rollout later this fiscal year. Previous phases saw low acceptance rates despite numerous offers. The Corporate Affairs Ministry is working with states to boost awareness. They are also addressing issues like accommodation to improve participation in the internship program. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads New Delhi: The government will likely roll out one more phase of its pilot project in a month before launching an expanded version of the PM Internship scheme later this fiscal, people aware of the details that internship offers finally accepted by candidates are only about a third of those made by companies in the first two phases, the corporate affairs ministry recently wrote to state governments , urging them to hold career counselling and awareness camps across their jurisdictions, along with executives of participating companies, to encourage candidates to take advantage of the scheme, one of the people told workshops, seminars and promotional campaigns, both online and offline, besides sensitisation campaigns at various industrial training and technical educational institutions are also being second phase of the pilot will likely conclude this the first phase, only 8,700 candidates had joined, out of 28,000 who had accepted the the second phase, companies made 72,000 internship offers to candidates until July 23, of which 22,800 were accepted by them, official data showed. The final tally of those accepting the offers will likely go up to 28,000-29,000 in the current phase, the people a large number of applications and internship opportunities extended by companies, many candidates backed out even after accepting the offers, citing parental as well as peer pressure behind them applying under the scheme. Similarly, absence of adequate and affordable stay facility near the place of internship has been cited by most candidates for not joining.
Bloomberg
30-05-2025
- Business
- Bloomberg
India Yoga Guru's Firm Faces Scrutiny Over Financial Deals
India's government has asked Patanjali Ayurved Ltd., a traditional medicine company co-founded by celebrity yoga guru Baba Ramdev, to explain some transactions deemed suspicious, according to people familiar with the matter. The Corporate Affairs Ministry sent a notice to the company after the federal economic intelligence wing found transactions it labeled as abnormal and dubious, the people said, asking not to be identified citing rules.
