Violation of provisions of Company Law by the Companies
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The Ministry of Corporate Affairs (MCA) has information of the companies which have violated the provisions of Company Law. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in response to a written question in the Lok Sabha today.
In his written reply, Shri Thakur gave details of Inquiries/Inspections/Investigations ordered during last two years from 2018-19 and 2019-20 as under:
|
No of Inquiry ordered u/s 206 (4) |
No of Inspection ordered u/s 206 (5) |
No of Investigation ordered u/s 210 |
No of Investigation ordered u/s 212 for SFIO |
|
878 |
674 |
167 |
59 |
Shri Thakur said that the reasons for ordering Inquiries/Inspections/Investigations varies from case to case such as frauds, non-compliance of the provisions of the Companies Act, non-refund of deposit received from public under the Companies Act, complaints received from other Ministries, Forwarding the complaints filed by the banks on borrowings by the companies and on the basis of orders of Hon’ble Court/Tribunal.
There are 660 number of cases in which enquiry has been conducted. Based on the findings, prosecutions are filed under the provisions of the Companies Act, 2013, the Minister said.
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