Which ministry is primarily responsible for the administration of the Companies Act, 2013?
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → Ministry of Corporate Affairs
The Ministry of Corporate Affairs administers the Companies Act, 2013, along with the Limited Liability Partnership Act and the Insolvency and Bankruptcy Code. It works through the Registrars of Companies, the Regional Directors, the Serious Fraud Investigation Office and the National Financial Reporting Authority.
The Ministry of Commerce and Industry looks after trade and industrial policy, the Finance Ministry after taxation and public finance, and the Ministry of Labour and Employment after labour law.