Violation of Company Law

Posted: 29/11/2012 in News, PIB
Tags: ,

Companies Act, 1956 is a voluminous legislation under which companies are required to make large number of disclosures and meet many procedural requirements as provided I the Act. Scrutiny of filings of companies to detect technical violations of the Act in such cases is carried out on a regular basis by Registrars of Companies all over the country and action for non-compliance is largely in the form of collection of additional fee and compounding fee. In more serious cases enquiry/inspection/investigation are carried out and cases of violations result in prosecutions. During the last three years (2009-12) such prosecutions have resulted in 8186 convictions.

This was stated by the Minister of State for Corporate Affairs (I/C) Shri Sachin Pilot in written reply to a question in the Lok Sabha today.

Source: Press Information Bureau.

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