CLR Snippets | MCA Statement on Complaints against Companies

CLR SnippetsDuring the last three years (i.e. 2010-11 to 2012-13), 154 complaints against companies have been received in the Ministry of Corporate Affairs. Giving this information in written reply to a question in the Rajya Sabha today, Shri Sachin Pilot, Minister of Corporate Affairs, said that inspections u/s 209A and/ or Investigations u/s 235 or scrutiny of the Balance Sheets and other documents u/s 234 of the Act in these cases have been ordered. He also informed the House that his Ministry is in the process of developing an early warning system to identify cases of frauds or potential frauds at the earliest and the Pilot testing of the system is expected to be completed during current Financial Year.

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