Companies Act convictions at 8,100
Agencies: New Delhi, Nov 22 2012, 19:56 IST
There were 8,100 convictions in the last three years in cases of serious violation of the Companies Act by firms, Lok Sabha was informed today.
Minister of State for Corporate Affairs Sachin Pilot in a written reply to the Lower House said scrutiny of filings of companies to detect technical violations of the Act is carried out on a regular basis by Registrars of Companies all over the country.
Action for non-compliance is largely in the form of collection of additional fee and compounding fee, he added.
In more serious cases inquiry/inspection/investigation are carried out and cases of violation result in prosecutions, he said.
"During the last three years (2009-12) such prosecutions have resulted in 8,186 convictions," he said.
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