Roles of MCA
The Ministry is primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008 & other allied Acts and rules & regulations framed there-under mainly for regulating the functioning of the corporate sector in accordance with law.
The Ministry is also responsible for administering the Competition Act, 2002 to prevent practices having adverse effect on competition, to promote and sustain competition in markets, to protect the interests of consumers through the commission set up under the Act.
The Objectives of Ministry :
• To administer and enforce the provisions of Companies Act 2013 and other allied laws and acts to enable the business organisations to do their business more easily and efficiently.
• To trace and identify quickly non compliance of the provisions made in the Companies Act,2013.
• To encourage various companies to improve Corporate Governance and adopt responsible and fair business practices.
• To avoid and penalise unfair trade practices and promote fair competition.
• To make available corporate data to the public, investors and other stakeholders.
• To offer various services to the stakeholders and protect their interest and safeguard their rights.
• To administer and enforce the provisions of Companies Act 2013 and other allied laws and acts to enable the business organisations to do their business more easily and efficiently.
• To trace and identify quickly non compliance of the provisions made in the Companies Act,2013.
• To encourage various companies to improve Corporate Governance and adopt responsible and fair business practices.
• To avoid and penalise unfair trade practices and promote fair competition.
• To make available corporate data to the public, investors and other stakeholders.
• To offer various services to the stakeholders and protect their interest and safeguard their rights.