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 Companies Act, 2013 lays down how companies in India are formed, run, audited and wound up. It is administered by the Ministry of Corporate Affairs, which works through the Registrars of Companies in the states, keeps the records of all registered companies and frames the rules under the Act. The Act replaced the Companies Act, 1956.