MCA

MCA-Action Initiated to Control the Fraudulent Companies

1 minute, 39 seconds Read

Action initiated to control fraudulent companies


 Ministry of Corporate Affairs

Action initiated to control fraudulent companies

Posted On: 09 MAR 2021 1:36 PM by PIB Delhi
 

The term ‘Fraudulent Company’ is not defined in the Companies Act, 2013. However, Ministry of Corporate Affairs (MCA) through the Registrar of Companies (ROC) CRC at Manesar registers new companies by following due process of law.

This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs, in a written reply to a question in Rajya Sabha today.

The Minster stated that in order to simplify the process of registration of new companies, MCA had taken various steps such as SPICe form was introduced to reduce the procedures, time and cost required for incorporation of a company to great extent. Since 23rd February 2020, the SPICe form has been replaced by a new generation integrated incorporation form christened SPICe+ web form which offers 10 services by three Central Government Ministries, the Maharashtra State Government and six public & private sector Banks, thereby reducing the number of procedures required to start business in India.  MCA has been implementing a holistic end-to-end e-Governance project named ‘MCA21’ for discharging its statutory functions since March, 2006 to bring transparency, speed and efficiency in the functioning of the Government.

Giving more details, the Minister said, MCA is aware of the corporate frauds reported in the last five years. Based on the complaints, investigations have been ordered from time to time against the companies which were allegedly involved in fraud and assigned to Serious Fraud Investigation Office (SFIO) and Regional Directors (RDs). The details of number of companies against whom Investigations ordered and assigned to SFIO and RDs during the last 5 Financial Years are as under:

Financial year

No. of investigations ordered and assigned to SFIO

No. of investigations ordered and assigned to RDs

No of Cases

No of Companies

No of Cases

No of Companies

2015-16

21

184

3

3

2016-17

25

111

2

2

2017-18

22

226

52

117

2018-19

33

414

27

126

2019-20

26

326

33

100

 

****

 

 
Source: Posted On: 09 MAR 2021 1:36 PM by PIB Delhi

Also read other articles @ EduTaxTuber

Cash Deposit or Cash Withdrawal Limit in Saving or Current Account
Nowadays many people getting notices from the Income Tax Department regarding cash deposit or cash withdrawal limit in saving or current accounts. So today we will discuss the above issue. The Income Tax Department directly has not issued any specified …
List of Banks for Income Tax Payments on e-filing Portal & NSDL
List of Banks for Income Tax Payments: The e-filing portal has issued the updated list of banks for Income Tax Payments on the e-filing portal and NSDL. As per the e-filing portal "List of banks for tax payments available at …
author

EduTaxTuber Team

We are here to help for every updates related to everything...👍📙👍📗

Similar Posts

Leave a Reply

England vs Senegal: FIFA World Cup 2022 No Curfew in Mumbai: Section 144 Imposed to ensure Peace Elon Musk suspends Kanye West Twitter Account for inciting violence Pak Vs England: England vs Pakistan FIFA World Cup 2022: CBDT Notifies Income Tax Exemption
Ads Blocker Image Powered by Code Help Pro

Ads Blocker Detected!!!

We have detected that you are using extensions to block ads. Please support us by disabling these ads blocker.

Powered By
Best Wordpress Adblock Detecting Plugin | CHP Adblock