Thursday, 29 May 2014

MCA to be part of Finance Ministry

After a decade of independent existence, the Ministry of Corporate Affairs (MCA) will now be clubbed with the Finance Ministry. 

Earlier the MCA, which was known as Department of Company Affairs, was under the Finance Ministry. In May 2004, the Department was made the Ministry of Company Affairs, with a separate Minister. 

Three year later, in May 2007, it was renamed as Ministry of Corporate Affairs (MCA). 

The apex bodies for chartered accountants, cost accountants and company secretaries as well as country's fair trade watchdog Competition Commission of India (CCI) are within the ambit of Ministry of Corp. Affairs.

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