INDIAN INSTITUTE OF CORPORATE AFFAIRS (IICA), MANESAR
- The Indian Institute of Corporate Affairs (IICA) was registered as a society on 12th September 2008 under the Societies Registration Act, 1860.
- It is an autonomous institute under the aegis of the Ministry of Corporate Affairs.
- The IICA was established as a think tank, action research service delivery and capacity-building institute to serve the Ministry, corporate entities and all other stakeholders in a one-stop-shop mode.
- The Ministry has set up National Foundation for Corporate Social Responsibility in the Indian Institute of Corporate Affairs with the mission to create a national platform that will foster enabling environment for the corporate sector to work in partnership with the government, NGOs and civil society.
INDIAN CORPORATE LAW SERVICE (ICLS)
- Ministry of Corporate Affairs is the Cadre Controlling Authority of the Indian Corporate Law service (ICLS).
- The erstwhile Indian Company Law Service was rechristened in November, 2008 as the Indian Corporate Law Service.
- The ICLS is also envisaged to be an important watchdog in the working of corporate sector.
- ICLS officers are trained in subjects like management, law, accounting, business finance and economics by the Indian Institute of Corporate Affairs (IICA).
- This institute is responsible for both induction training of new recruits, and in-service training of existing members of the Service.
MCA21 E-GOVERNANCE PROJECT
- MCA launched its pioneering e-Governance initiative ‘MCA21’ in January 2007.
- The initiative has been successful in achieving its aim of providing speed and certainty in the delivery of MCA services to its stakeholders.
- ‘MCA21’ adopted a service oriented approach in the design and delivery of government services.
- The MCA21 contract that was managed by TCS Ltd. ended in January, 2013. Infosys has taken over the contract for a period of six and a half years (extendable by two years) from January, 2013, after a 4 month transition period.
- Investor Education and Protection Fund (IEPF) is for promotion of investor’s awareness and protection of the interests of investors.
COMPETITION COMMISSION OF INDIA
- The Competition Act, 2002 was enacted paving way for the establishment of the Competition Commission of India (CCI), the institutional framework to support healthy and fair competition in markets.
- This Act moved away from the earlier emphasis of MRTP on curbing monopolies, to a more particular and directed approach towards promoting competition and thereby increasing efficiency, innovation and competitiveness.
- The Competition Act provides a formal and legal framework for ensuring competition and preventing abuse of market power and dominance and regulating combinations in the Indian Economy.
- The Competition Commission of India was set up on October 14, 2003.
- The Competition Act, 2002 has since been amended twice by the Competition (Admendment) Act, 2007 and the Competition (Amendment) Act, 2009.
- The amended Act provides that the Commission would comprise a Chairperson and a minimum 2 to maximum 6 members.
- In addition to this, it also provides for the establishment of a Competition Appellate Tribunal to hear and dispose-off appeals against the orders of the Commission and also adjudicate on the claims of compensation that may arise from the findings of the Commission or the orders of the Appellate Tribunal.
