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The government has ordered inspection of account books of two companies allegedly linked to former Jharkhand chief minister Madhu Koda, who is already under the scanner of Income Tax and Enforcement Directorate in an illegal money laundering case.
National Foundation for Corporate Governance (NFCG) has been established by the Ministry of Corporate Affairs in partnership with CII, ICSI, ICAI, ICWAI and NSE to function as the National Apex platform for promotion of good Corporate Governance (CG) practices in India
The Government has said statutory auditors for Government Companies are appointed by the Comptroller & Auditor General of India (C&AG) in exercise of the powers conferred under section 619(2) of the Companies Act, 1956 as amended vide Companies (Amendment) Act, 2000.
Shri Salman Khurshid, Minister of Corporate Affairs, said that under the ‘Easy Exit Scheme- 2010’ (EES) defunct companies can get their names struck off the Register of Companies under section 560 of the Companies Act, 1956, by filing an application in the form EES, 2010, with indemnity bond, affidavit verifying correctness of the application and defunctness of the company and up to date statement of accounts. The Minister further informed the House that under ‘Company Law Settlement Scheme- 2010’ on payment of 25% of the actual additional fees payable for filing belated documents delay gets condoned and immunity from prosecution is granted.
The Ministry of Corporate Affairs has said that it is concerned with taking action against the developers in the realty sector which are registered as companies under Companies Act, 1956 for offences/violations of the provisions of the Companies Act, 1956 as and when noticed.
The Government has said that to curb registration of fictitious companies, every company is being allotted Corporate Identity Number from the year 2000. Giving this information in written reply to a question in the Rajya Sabha, Shri Salman Khurshid, Minister of Corporate Affairs, has said that the Central Government has prescribed filing of address proof and identity proof for directors and thereafter Director Identification Number is allotted, which aborts formation of fictitious companies.
Shri Salman Khurshid, Minister of Corporate Affairs, has said that under the Companies Act,1956, it is mandatory for all companies to submit annual return, balance-sheet, etc. to the Government. Giving this information in written reply to a question in the Rajya Sabha, Shri Khurshid informed the House that during last 3 years (2006-07, 2007-08 and 2008-09) the number of companies that have not filed their Balance Sheet
The Government has said that a number of steps have been taken to make the ‘Easy Exit Scheme- 2010’ effective. Giving this information in written reply to a question in the Rajya Sabha, Shri Salman Khurshid, Minister of Corporate Affairs, said that the steps include conducting seminars and workshops involving all stakeholders, to sensitize the scheme and advertisements in newspapers, banners, etc.
The Government has said that steps have been taken to enumerate or identify such registered companies which are inactive, dormant and have been in such mode for at least last ten years. Stating this in written reply to a question in the Rajya Sabha, Shri Salman Khurshid, Minister of Corporate Affairs, said that many promoters want to de-register these inactive companies to save themselves from perennial troubles.
It has been observed by the Ministry of Corporate Affairs that a large number of companies are not filing their due documents timely with the Registrar of Companies. Due to this, the records available in the electronic registry are not updated and thereby are not available to the stakeholders for inspection. Further, due to non-filing of the documents on time, companies are burdened with additional fee and facing the prosecutions also.
