Defining ‘STRIKE-OFF’: Strike-off means removal of a registered company, by the Registrar of Companies, from the register or roll. Defining ‘Non-Compliance’: Non-compliance means not complying/obeying the set of rules and [...]
Keeping in mind a specific end goal to promote new businesses, Bombay Stock Exchange (BSE) plans to soar a new platform for listing of startups in the tech segment of [...]
What Happened: In 2017, the Ministry of Corporate Affairs (MCA) announced the deregistration of 2.4 lakh companies and 3.09 lakh Directors under the provisions of the Companies Act, 2013. This [...]
On 26 May 2016, the Reserve Bank of India (RBI) came out with a notification on Non-Banking Financial Companies (NBFCs) which paved the way for making amendments in their corporate debt....
Circumstances that Led to Strike-off: 1#: Political Agenda - Modi soon after occupying the office gave a clear message to the authorities is to take steps towards taming the ‘Demon’ of corruption, which [...]
Government of India has introduced a notification that intends to regulate all peer-to-peer (P2P) lending platforms by Reserve Bank of India(RBI). The executive director at RBI, Sudarshan Sen had said [...]
In India, there are many online P2P lending platforms. Some of these are involved in the business targeted at micro finance activities with the stated primary goal being social impact....
Preface: Understanding the Background In the continuance of the process of cleaning up the financial sphere, the Ministry of Corporate Affairs (MCA) has taken stringent measure by ‘Striking Off’ of [...]
It is very often usual Non-Banking Financial Companies (NBFCs) to transfer their management. Management transfer becomes necessary because of various reasons on the face....
In 2017, Ministry of Corporate Affairs (MCA) took a drastic step and de-registered almost 2.3 lakh companies. This also resulted in the de-activation of DINs (Director Identification Number) of almost [...]
The news of Ministry of Corporate Affairs (MCA) taking stringent action against erring companies has created ripples in the financial world. In September 2017, more than three lakh companies were [...]