Write short notes on the following :
Ministry of Corporate Affairs.

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Solution

The Ministry of Corporate Affairs (MCA) is a ministry of the Indian government. It is mainly responsible for regulation of Industrial and Service sector enterprises. The Institute of Chartered Accountants of India(ICAI), Institute of Company Secretaries of India(ICSI) and Institute of Cost Accountants of India (ICAI) are also supervised by it. It also has the responsibility to carry out the functions related to the administration of the Companies Act 2013, the Companies Act 1956, the Limited Liability Partnership Act, 2008 and Societies Registration Act,1980.

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Q11. Consider the following statements:

1. Serious Fraud Investigation Office (SFIO) is setup to investigate corporate frauds.

2. It is under the jurisdiction of the Ministry of Corporate Affairs.

Which of the statements are correct?

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