The Ministry of Corporate Affairs("MCA") deals enforces law and order on all the Industrial and
Service Company in India on the basis of the Companies Act 2013, Companies Act
1956, The Limited Liability Partnership Act 2008 and other related acts and
rules & regulations. Framed under the guidelines of MCA, the act and rules
& regulations were framed primarily to regulate companies under corporate
sector in accordance with the Law.
Ministry of Corporate Affairs also administrates the competition act 2002 to prevent false
practices in competition and to promote sustainable and healthy competition
between the companies. Hence it also saves the interest of a common consumer
from being depleted.
Beside
administrating companies and therefore maintaining law and order on the
corporate enterprise, the MCA also supervises over three underlying
professional bodies which were constituted under the Parliament to ensure a
proper and orderly growth for the professions which all three bodies are
concerned with.
MCA supervises
the following three bodies
1. Institute of Chartered Accountants of
India (ICAI),
2. Institute of Company Secretaries of
India (ICSI) and
3. Institute of Cost Accountant of India
(ICAI).
The MCA also takes care of the administration of the Partnership Act 1932, the Company's’ (Donation to national
funds) Act and Societies Registration Act 1980 and carries out all the
functions of the Central Government which relates to above mentioned acts.
Read more at : http://www.nclt.in/act.php
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