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Ministry of corporate affairs

Byju’s Faces Ongoing Fraud Investigation, Government Refutes Clean Chit Reports

26 Jun 2024

The Ministry of Corporate Affairs (MCA) has clarified that the investigation into allegations of financial misconduct against edtech giant Byju's is ongoing and has not concluded, contrary to recent media reports suggesting otherwise. In response to claims circulating in the media that Byju's had been cleared of financial fraud, the...

Government raises minimum paid-up capital requirement for small companies

16 Sep 2022

The Ministry of Corporate Affairs has significantly changed the threshold limit for "small enterprises" paid-up capital yet again. Prior to this change, the Firms Act of 2013's definition of "small companies" had its paid-up capital and turnover criteria raised from "not surpassing Rs 50 lakh" to "not exceeding Rs 20...