business-india-news

87 'vanishing companies' under prosecution

New Delhi, Aug 19 : Corporate Affairs minister Sachin Pilot Monday said prosecutions have been filed against 87 'vanishing companies' and their promoters or directors for non-filing of statutory returns and for fraudulently inducing persons to invest money.


"FIRs (first information report) have been lodged against all 87 companies and their directors to trace their whereabouts and also to take action under Indian Penal Code (IPC)," the minister said in a written reply to a question in Lok Sabha.

"Prosecutions have also been filed against these companies and their promoters/ directors under sections 162 and 220 of the Companies Act, 1956 for non-filing of statutory returns and under Sections 62/ 63, 68 and 628 of the Companies Act, 1956 for mis-statement in prospectus/ fraudulently inducing persons to invest money/ false statements made in the offer documents, etc," Pilot added.

Pilot also informed the House that instructions had been issued to the Registrars of Companies for physical verification of the registered offices of listed companies, which have defaulted in filing their balance sheets and annual returns.

--IANS (Posted on 19-08-2013)

business-india-news headlines

Rupee slips below 61 against the dollar

Minawala opens store in Mumbai

Motorola appoints Amit Boni to General Manager of India

RIL signs loan co-financed by JBIC

Sensex hits record high for third straight day

Franklin Templeton Investments to launch new fund scheme

Micromax launches Canvas Doodle 3

IFC focus on e-payment systems

Toyota India resumes operations as workers return

Tata Elxsi net zooms 239 percent in fiscal 2013-14

Yatra.com becomes Rajasthan Royals' Official Travel Partner

Cognizant acquires itaas

Quick Links: Goa | Munnar | Pondicherry | Free Yearly Horoscope '2014

Comments

Your e-mail:


Your Full Name:


Type verification image:
verification image, type it in the box

Message:

Back to Top