Can't check every company filing: MCA

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Agencies: New Delhi , Nov 07 2012, 20:09 IST

of shares/ debentures, in cases where the auditors have qualified their reports and when there is default in payment of matured deposits and debentures.

Further, the Ministry said that balance sheets are checked when references received from other regulatory authorities regarding violations or irregularities that call for action under the Companies Act.

"After the scrutiny, suitable steps are initiated wherever necessary to obtain explanation and clarification and to institute inspections, investigations and prosecutions wherever warranted," it said.

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scruitnizing the companies address

MM Sundram | 08-Nov-2012Reply | Forward

it is mockery and ridiculous that the Government cannot scrutinize and take action. there are various facilities avaialble for verification and it can be out sourced like what the Ministry of corporate affairs now doing with the TCS consultancy services. it is very very shocking that MCA cannot scrutinize. everything. then the unscrupulouse promoters will take advantage this systemic failure and loot the public monies. there are various sections to take action on the companies under the companies Act 1956 but few ROC, looking their personal gains not taking action even after the investors and shareholders complaints. i am the victim of that investors and even after several knocking the door of the Secretary and vigilance secretary to the MCA i am not getting any salvations on the rogue and erring companies. if any body needs i will submit the documentary proof as how the ROC allowing the companies to go scot free knowingly.