The Ministry of Corporate Affairs (MCA) in India is planning to conduct a series of webinars and in-person interactions with Corporate India and professionals to identify and bridge regulatory gaps. The discussions will cover each Act under the Ministry, with the aim of ensuring sound ethical and good corporate governance. The MCA wants to set a level playing field and ensure that professionals and businesses have a similar understanding of the rules and regulations. The initiative also aims to promote swift and speedy action against corporate misdemeanour to incentivize compliance. The MCA intends to complete stakeholder consultations by the end of the fiscal year, using both online feedback and in-person events. This move aligns with the Finance and Corporate Affairs Minister's announcement of bringing public consultation into the process of regulation making. One recent regulatory change made by the MCA was aligning company incorporation rules with FEMA to prevent nationals of countries sharing a land border with India from incorporating a company without security clearance from the Home Ministry. [44be685f]
Sanjiv Bajaj, Chairman of CII and CMD of Bajaj Finserv, announced that corporate governance guidelines for family businesses will be released soon. He made this announcement at the industry body's annual summit for corporate governance. The event also saw the launch of a corporate governance charter for startups. The guidelines are expected to provide a framework for improving governance practices in family-owned businesses. The Securities and Exchange Board of India (SEBI) is likely to play a role in the development and implementation of these guidelines. [2bea4aa3]