<h1>MCA Achieves Key Milestones: Implements Insolvency Code, Amends Companies Act 2013, Enhances Corporate Legal Framework in 2016.</h1> The Ministry of Corporate Affairs (MCA) in India achieved significant milestones in 2016, including the administration of the Insolvency and Bankruptcy Code, 2016, and the establishment of the Insolvency and Bankruptcy Board of India (IBBI). The MCA reviewed the Companies Act, 2013, and introduced amendments in Parliament. It also notified most sections of the Companies Act, 2013, and made amendments to the Companies (Cost Records and Audit) Rules, 2014. The compliance levels for filing cost audit reports improved significantly. The National Company Law Tribunal and Appellate Tribunal were constituted, enhancing the corporate legal framework and supporting India's Ease of Doing Business ranking.