New Delhi : After a decade of independent existence, the Corporate Affairs Ministry has now come under the reins of Finance Minister in the Narendra Modi regime. Arun Jaitely, who took charge as Finance Minister, would also be heading the Corporate Affairs Ministry. He would be assisted by Minister of State Nirmala Sitharaman.
The transition for the Ministry of Corporate Affairs, also known as MCA, comes at a crucial time as corporates are slowly getting used to the new companies law. Ending many years of delay, the Ministry under the stewardship of Sachin Pilot last year introduced the Companies Act, 2013.
Though seen as a low profile Ministry, MCA is implementing the revamped companies law which strives to ensure strong corporate governance and protect the interests of investors.