Latest news with #MinistryofCorporateAffairs
Hans India
a day ago
- Business
- Hans India
Registration of companies and LLPs surges in May amid strong GDP growth
New Delhi: Due to strong GDP growth and policy continuity, registration of companies and limited liability partnerships (LLPs) in the country surged by up to 37 per cent in May. According to latest government data, registration of companies increased by 29 per cent and LLPs by 37 per cent on year-on-year basis in May. Data released by the Ministry of Corporate Affairs said that 20,720 companies, including overseas units, were registered in May, up from 16,081 in the same period a year ago. This was the fifth consecutive month when registration of companies has gone up. About 7,487 LLPs were registered in May. Last year, the number was 5,464. The GDP growth accelerated to a robust 7.4 per cent in the fourth quarter of 2024-25, as result of which the growth rate for the full financial year works out to 6.5 per cent on the back of a strong performance of the agriculture, construction, and services sectors. The International Monetary Fund (IMF) has forecast India to be the only economy that is expected to clock an over 6 per cent growth rate in 2025-26, as the US tariff turmoil is expected to disrupt world trade and slow down the growth of the global economy. India continues to defy the global slowdown, the OECD's latest 'Economic Outlook' said this week, projecting the country's economy to grow by 6.3 per cent in 2025 and 6.4 per cent in 2026. Strong domestic demand, resilient services and manufacturing sectors, and ongoing infrastructure investments have been cited as key drivers for India's strong performance amid global uncertainties. According to analysts, India's better-than-expected GDP growth in Q4 FY25 at 7.4 per cent is an indicator that growth is rebounding which can lead to revival of corporate earnings in FY26, and foreign institutional investors (FIIs) are likely to continue their investment in India. The RBI's credit policy on interest rates decision on Friday will be keenly watched as any further cut in policy rates would keep markets in good stead in the medium term.
India.com
a day ago
- Business
- India.com
Registration Of Companies And LLPs Surges In May Amid Strong GDP Growth
New Delhi: Due to strong GDP growth and policy continuity, registration of companies and limited liability partnerships (LLPs) in the country surged by up to 37 per cent in May. According to latest government data, registration of companies increased by 29 per cent and LLPs by 37 per cent on year-on-year basis in May. Data released by the Ministry of Corporate Affairs said that 20,720 companies, including overseas units, were registered in May, up from 16,081 in the same period a year ago. This was the fifth consecutive month when registration of companies has gone up. About 7,487 LLPs were registered in May. Last year, the number was 5,464. The GDP growth accelerated to a robust 7.4 per cent in the fourth quarter of 2024-25, as result of which the growth rate for the full financial year works out to 6.5 per cent on the back of a strong performance of the agriculture, construction, and services sectors. The International Monetary Fund (IMF) has forecast India to be the only economy that is expected to clock an over 6 per cent growth rate in 2025-26, as the US tariff turmoil is expected to disrupt world trade and slow down the growth of the global economy. India continues to defy the global slowdown, the OECD's latest 'Economic Outlook' said this week, projecting the country's economy to grow by 6.3 per cent in 2025 and 6.4 per cent in 2026. Strong domestic demand, resilient services and manufacturing sectors, and ongoing infrastructure investments have been cited as key drivers for India's strong performance amid global uncertainties. According to analysts, India's better-than-expected GDP growth in Q4 FY25 at 7.4 per cent is an indicator that growth is rebounding which can lead to revival of corporate earnings in FY26, and foreign institutional investors (FIIs) are likely to continue their investment in India. The RBI's credit policy on interest rates decision on Friday will be keenly watched as any further cut in policy rates would keep markets in good stead in the medium term.
India Gazette
2 days ago
- Business
- India Gazette
IICA to establish first regional campus in northeast, advancing corporate governance and development
New Delhi [India], June 3 (ANI): The Shillong campus, an investment under the Prime Minister's Development Initiative for Northeast (PM-DevINE), will operate as a regional hub for specialised training, research, and policy advisory across key domains, according to an official statement from the Ministry of Corporate Affairs. In a landmark step toward inclusive national growth and regional capacity building, the Indian Institute of Corporate Affairs (IICA), under the Ministry of Corporate Affairs, formally acquired a five-acre land parcel in New Shillong Township, Meghalaya, for its first-ever regional campus. This initiative marks a significant expansion of IICA's footprint into the North East, reinforcing its commitment to corporate governance excellence and sustainable development. In an official statement, the land-transfer ceremony was presided by Donald Phillips Wahlang, Chief Secretary, Government of Meghalaya and Ms. Deepti Gaur Mukerjee, Secretary, Ministry of Corporate Affairs. Gyaneshwar Kumar Singh, Director General and CEO of IICA, Inderdeep Singh Dhariwal, Joint Secretary, Ministry of Corporate Affairs, C.V.D. Diengdoh, Commissioner & Secretary, Planning Department, (Col.) Amandeep Singh Puri IICA among other senior officials were also present. The land handover and takeover were undertaken by K. Hynniewta, Joint Secretary, Planning Department from the Government of Meghalaya and Sh. Shekhar Srivastava, Deputy Secretary from the Government of India. Applauding the vision, the Chief Secretary expressed Meghalaya's commitment to knowledge-led growth and highlighted the strategic location of the IICA campus within the Knowledge City cluster. The area already houses esteemed institutions like IIM Shillong, National Law University Meghalaya, and NIFT--promising rich academic and professional synergy. He also informed that a new airport is soon to be developed in Shillong, which will significantly enhance regional connectivity and make the campus easily accessible to professionals, faculty, and students from across India. This infrastructural development will further reinforce Shillong's emerging status as a major academic and policy hub in the Northeast. Gyaneshwar Kumar Singh, DG and CEO, IICA, hailed the moment as historic, describing the Shillong campus as 'our first baby outside Delhi--a symbol of decentralisation and empowerment.' He emphasized the role of the new campus in supporting entrepreneurship, capacity building, and good governance in alignment with national priorities such as Ease of Doing Business, Atmanirbhar Bharat, and Vikshit Bharat @ 2047. Referring to Prime Minister Narendra Modi's vision during the Rising North East initiatives, the DG noted that the Prime Minister has consistently championed the North East as the 'Ashtalakshmi of India'--a region rich in diversity, talent, and potential. Aligning with this vision, he said in an official statement, 'IICA is proud to be part of the transformation of the region from a remote periphery to a dynamic growth engine of New India.' He further emphasised, 'This initiative resonates deeply with our Prime Minister's mantra of 'Sabka Saath, Sabka Vikas, Sabka Vishwas, Sabka Prayas'. Our campus in Shillong is not just an expansion--it is a commitment to 'Transformation by Transportation,' as the PM rightly envisioned, where infrastructure and knowledge institutions together pave the way for peace, prosperity, and purpose.' Backed by a Rs 100.95-crore investment under the Prime Minister's Development Initiative for North-East (PM-DevINE), the Shillong campus will operate as a regional hub for specialized training, research, and policy advisory across key domains--Corporate Governance, ESG, CSR, Insolvency and Bankruptcy, Competition Law, and Board Leadership. In her address, Secretary, Ministry of Corporate Affairs, Ms Deepti Gaur Mukerjee, Congratulated and appreciated the proactive and generous support from the Meghalaya Government, stating that this partnership reflects the spirit of cooperative federalism and the Centre's vision of empowering the North-East as a growth engine for New India. According to an official statement, academic and advisory programmes are scheduled to begin within the current financial year, with construction work starting immediately. IICA has already served the NER through its prior training programmes that have benefitted over 300 professionals and continues to manage the Independent Director Databank, which includes representation from all Northeastern states. Going forward, IICA will foster collaborative programmes with state universities and institutions in the Knowledge City to deliver tailored training, policy support, and capacity-building initiatives that cater to the region's socio-economic aspirations. This expansion underscores IICA's resolve to serve as a long-term partner in shaping ethical entrepreneurs, skilled professionals, and responsible leaders, right from the heart of the Northeast. (ANI)
India Gazette
4 days ago
- Business
- India Gazette
IEPFA and SEBI launch first Niveshak Shivir in Pune to empower investors and resolve unclaimed dividends
New Delhi [India], June 1 (ANI): The Investor Education and Protection Fund Authority (IEPFA), under the Ministry of Corporate Affairs, in collaboration with the Securities and Exchange Board of India (SEBI), successfully launched the pilot chapter of Niveshak Shivir in Pune on Sunday. The initiative is a part of IEPFA's continued mission to empower investors and strengthen financial literacy. The event marked a significant step in facilitating direct engagement with investors and addressing unresolved financial claims, according to the Ministry of Corporate Affairs. In line with IEPFA's broader investor outreach initiatives, Niveshak Shivir was conceptualised to assist investors in resolving pending issues related to unclaimed dividends and shares, updating KYC and nomination details, and facilitating faster settlements of claims - all under one roof. Over 450 claimants participated enthusiastically in the event, which attracted investors and stakeholders from Pune and nearby regions. By bringing together representatives from MIIs (Market Infrastructure Institutions), Registrars and Transfer Agents (RTAs), Depositories and Depository participants, the event successfully created awareness of the processes, thereby ensuring a transparent and seamless awareness towards demat of physical shares, updating KYC and nomination and the processes of IEPF claim were demystified. Investors were guided through every step of the process by trained officials at nineteen dedicated kiosks. To further streamline the process, search facility was made available at the venue, enabling participants to quickly check whether they or their family members had held any unclaimed shares or dividends. Once verified, trained officials assisted claimants in accurately filling out the IEPF-5 form, ensuring a smooth and guided claim submission process. Anita Shah Akella, CEO of IEPFA and Joint Secretary, Ministry of Corporate Affairs, along with Ananth Narayan, whole time Member, SEBI, and other officials inaugurated a special investor guide brochure developed by NSDL titled 'Investor Guide to Claiming Unclaimed Shares and Dividends.' The brochure outlines, in simple language, the step-by-step process for reclaiming unclaimed dividends and shares through the IEPF portal, key documents required (such as PAN, Aadhaar, and Entitlement Letter), and tips for avoiding common reasons for claim rejections. This initiative is expected to further empower investors with the knowledge needed to effectively navigate the claim process. The Shivir is the first in a planned series of Niveshak Shivir events to be held in major cities with significant volumes of unclaimed investor funds. This reflects IEPFA's deep commitment to investor-centric governance and transparency. Citywise calendar of events of Niveshak Shivir would be rolled out based on the learnings of this pilot. The Government of India established the Investor Education and Protection Fund Authority (IEPFA) under the Ministry of Corporate Affairs. Its mandate is to promote investor awareness, ensure effective grievance redressal, and facilitate the recovery of unclaimed investments through accessible and user-friendly platforms. (ANI)
Time of India
4 days ago
- Business
- Time of India
'Not received any communication': Patanjali Ayurved denies being under under MCA lens for financial lapses
Patanjali Ayurved Limited on Sunday denied being underthe radar of Ministry of Corporate Affairs for alleged investigation for corporate governance or financial lapses , informed the company through stock exchange filing. The ministry of corporate affairs (MCA) has initiated the process for a probe into the affairs of Patanjali Ayurved to ascertain if there have been any corporate governance or financial lapses there, a person aware of the development told ET. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo The ministry is learnt to have sent a notice for this purpose to the company under Section 210 of the Companies Act. This section empowers the government to launch a probe into a company in public interest, among other conditions. Live Events The ministry's decision, said the person cited above, follows inputs from government agencies about alleged financial irregularities at the company.
