Ministry of Corporate Affairs
Ministry of Corporate Affairs , earlier known as Department of Corporate Affairs under Ministry of Finance, is primarily concerned with the administration of the Companies Act, 1956, and other allied Acts, etc framed there-under for regulating the functioning of the corporate sector in accordance with the law. The advisory issued by the Corporate Affairs Ministry echos alerts issued earlier by the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Both bourses had categorically advised investors not to ”get swayed by promises of high returns”, and advised them to verify the tall claims made advertisements. The Ministry also has the responsibility of carrying out the functions of the Central Government relating to administration of Partnership Act, 1932, the Companies (Donations to National Funds) Act, 1951 and Societies Registration Act, 1980.
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