Ministry of Corporate Affairs
Ministry of Corporate Affairs India.svg
Agency overview
JurisdictionGovernment of India
HeadquartersShastri Bhawan, New Delhi, India
Agency executives
Websitewww.mca.gov.in

The Ministry of Corporate Affairs is an Indian government ministry primarily concerned with administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008, and the Insolvency and Bankruptcy Code, 2016.[1]

It is responsible mainly for the regulation of Indian enterprises in the industrial and services sector. The ministry is mostly run by civil servants of the ICLS cadre. These officers are elected through the Civil Services Examination conducted by Union Public Service Commission. The highest post, Director General of Corporate Affairs (DGCoA), is fixed at Apex Scale for the ICLS. The current minister is Nirmala Sitaraman.

Administration

The ministry administers the following acts:

In August 2013, The Companies Act, 2013 was passed to regulate corporations by increasing responsibilities of corporate executives and is intended to avoid the accounting scandals such as the Satyam scandal which have plagued India.[2] It replaces The Companies Act, 1956 which has proven outmoded in terms of handling 21st century problems.[3]

The Ministry has constituted a Committee for framing of National Competition Policy (India) and related matters (formulate amendments in the Act) under the Chairmanship of Dhanendra Kumar, former Chairman of Competition Commission of India.[4][5]

Training Academies

National Apex Bodies

Statutory Professional Body

Statutory Bodies

List of Ministers For Corporate Affairs

# Name Portrait Term of office Political party
(Alliance)
Prime Minister
1 Liaquat Ali Khan

(Interim Government)

Liaquat Ali Khan.jpg
29 October 1946 14 August 1947 All-India Muslim League Jawaharlal Nehru
(Vice President of the Interim Govt. of India)
2 R. K. Shanmukham Chetty
R. K. Shanmukham Chetty.jpg
15 August 1947 1949 Indian National Congress Jawaharlal Nehru
3 John Mathai
John Mathai.jpg
1949 1950
4 C. D. Deshmukh 29 May 1950 1957
5 T. T. Krishnamachari 1957 13 February 1958
6 Jawaharlal Nehru
Bundesarchiv Bild 183-61849-0001, Indien, Otto Grotewohl bei Ministerpräsident Nehru cropped.jpg
13 February 1958 13 March 1958
7 Morarji Desai
Morarji Desai (portrait).png
13 March 1958 29 August 1963
8 T. T. Krishnamachari 29 August 1963 1965 Jawaharlal Nehru

Lal Bahadur Shastri

9 Sachindra Chaudhuri 1965 13 March 1967 Lal Bahadur Shastri

Indira Gandhi

10 Indira Gandhi
Indira Gandhi 1977.jpg
1967 1971 Indira Gandhi
11 Yashwantrao Chavan 1971 1975
12 Chidambaram Subramaniam 1975 1977
13 Haribhai M. Patel 24 March 1977 24 January 1979 Janata Party Morarji Desai
14 Charan Singh 24 January 1979 28 July 1979
15 Hemvati Nandan Bahuguna 28 July 1979 14 January 1980 Janata Party (Secular) Charan Singh
16 R. Venkataraman
R Venkataraman (cropped).jpg
14 January 1980 15 January 1982 Indian National Congress Indira Gandhi
17 Pranab Mukherjee
Pranab Mukherjee-World Economic Forum Annual Meeting Davos 2009 crop(2).jpg
15 January 1982 31 December 1984
18 V. P. Singh
V. P. Singh (cropped).jpg
31 December 1984 24 January 1987 Rajiv Gandhi
19 Rajiv Gandhi
Rajiv Gandhi (1987).jpg
24 January 1987 25 July 1987
20 N. D. Tiwari 25 July 1987 25 June 1988
21 Shankarrao Chavan 25 June 1988 2 December 1989
22 Madhu Dandavate 2 December 1989 10 November 1990 Janata Dal
(National Front)
V. P. Singh
23 Yashwant Sinha
Yashwant Sinha IMF.jpg
10 November 1990 21 June 1991 Samajwadi Janata Party
(National Front)
Chandra Shekhar
24 Manmohan Singh
Prime Minister Manmohan Singh in WEF ,2009 (cropped).jpg
21 June 1991 16 May 1996 Indian National Congress P. V. Narasimha Rao
25 Jaswant Singh
Jaswant Singh (cropped).jpg
16 May 1996 1 June 1996 Bharatiya Janata Party Atal Bihari Vajpayee
26 P. Chidambaram
Pchidambaram (cropped).jpg
1 June 1996 21 April 1997 Tamil Maanila Congress
(United Front)
H. D. Deve Gowda
27 I.K. Gujral
Inder Kumar Gujral 071.jpg
21 April 1997 22 May 2004 Janata Dal
(United Front)
I. K. Gujral
28 Prem Chand Gupta 22 May 2004 30 November 2008 Indian National Congress
(United Progressive Alliance)
Manmohan Singh
29 H. R. Bhardwaj
Hans Raj Bhardwaj.png
30 November 2008 24 January 2009
30 Veerappa Moily
Veerappa Moily BNC.jpg
26 June 2012 31 July 2012
31 Sachin Pilot
Sachin Pilot at the India Economic Summit 2010 cropped.jpg
31 July 2012 26 May 2014
32 Arun Jaitley
Arun Jaitley, Minister.jpg
26 May 2014 30 May 2019 Bharatiya Janata Party
(National Democratic Alliance)
Narendra Modi
34 Nirmala Sitharaman
Smt. Nirmala Sitharaman addressing a press conference on June 28, 2021, in New Delhi (cropped).jpg
30 May 2019 Incumbent

List of Ministers of State

Minister of state Portrait Political party Term Days
Nirmala Sitharaman
Nirmala Sitharaman in September 2018.jpg
Bharatiya Janata Party 26 May 2014 9 November 2014 167 days
Arjun Ram Meghwal
Shri Arjun Ram Meghwal taking charge as the Minister of State for Water Resources, River Development and Ganga Rejuvenation, in New Delhi on September 04, 2017.jpg
5 July 2016 3 September 2017 1 year, 60 days
P. P. Chaudhary
P.P. Chaudhary delivering the inaugural address at the Plenary Session of the three-day International Competition Network Annual Conference 2018 (ICN2018), organised by the Competition Commission of India, in New Delhi.jpg
3 September 2017 30 May 2019 1 year, 269 days
Anurag Thakur
Anurag Thakur.jpg
30 May 2019 7 July 2021 3 years, 153 days
Rao Inderjit Singh
Shri Inderjit Singh Rao taking charge as the Minister of State (Independent Charge) for Planning, in New Delhi on May 27, 2014.jpg
7 July 2021 Incumbent 1 year, 115 days

See also

References

  1. ^ "About MCA".
  2. ^ Jen Swanson (15 August 2013). "India Seeks to Overhaul a Corporate World Rife With Fraud" ("Dealbook" blog). The New York Times. Retrieved 16 August 2013.
  3. ^ "Parliament passes Companies Bill 2012(Update)". Yahoo! News India. ANI. 8 August 2013. Retrieved 16 August 2013.
  4. ^ "MCA draft - Ministry Of Corporate Affairs".
  5. ^ "Second Round of Consultations on the Revised Version of National Competition Policy Begins Tomorrow".