Penal Action Against Fraudulent Companies

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Penal Action Against Fraudulent Companies
News and Press Release
Dated:- 30-4-2013

During last five years i.e. from 2008-09 to 2012-13 a total of 782 inspection reports in respect of com .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... panies were received in the Ministry of Corporate Affairs. Based on the findings in the inspection reports, penal actions have been taken against the companies and their directors/officers in default .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... for violation of various provisions of the Companies Act, 1956. Giving this information in written reply to a question in the Rajya Sabha, Shri Sachin Pilot, Minister of Corporate Affairs, said that t .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... he Ministry has taken following steps to keep effective check on frauds/ irregularities committed by companies: (i) An Early Warning System has been devised to generate alerts on the basis of certain .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... parameters; (ii) Market Research and Analysis Unit has been set up in the Serious Fraud Investigation Office; and (iii) Certain class of companies have been mandated to file their balance sheets in .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Xtensible Business Reporting Language (XBRL) mode for analysis of data and generation of alerts on the basis of certain parameters. KKP/sg (Release ID :95358)
News - Press release - PIB .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X