Auto Refresh
Advertisement

News, Nation

Govt orders probe into corporate governance lapses

Published Aug 3, 2018, 1:42 pm IST | Updated Aug 3, 2018, 1:42 pm IST

The government today said it has ordered 83 investigations in the first three months of this fiscal into violation of corporate governance..

Corporate Affairs Minister Piyush Goyal
Corporate Affairs Minister Piyush Goyal

The government today said it has ordered 83 investigations in the first three months of this fiscal into violation of corporate governance norms under the companies law. The probes have been ordered on the basis of various complaints. Corporate Affairs Minister Piyush Goyal told the Lok Sabha that there is an elaborate framework under the Companies Act, 2013 to deal with minor and major violations. In 2018-19, the ministry has ordered 83 investigations till the end of June into violations of corporate governance norms, as per data provided in the written reply given by the minister.

Govt orders probe into corporate governance lapsesGovt orders probe into corporate governance lapses

Advertisement

During the period from 2015-16 to June 30, 2018, the total number of investigations ordered stood at 207, the data showed. Besides, the minister said Registrar of Companies (RoCs) have filed 399 prosecutions against entities for various violations of the Companies Act in the current fiscal till June 30. Meanwhile, 13 cases have been assigned to the Serious Fraud Investigation Office (SFIO) till June 30 this fiscal. There are 114 sections dealing with defaults under the Companies Act, 2013.

KYC KYC

Goyal said the government has taken several steps to improve corporate governance, including nationwide drive to strike-off inactive companies, disqualification of defaulting directors and electronic KYC (Know Your Customer) requirements for directors. Responding to supplementary queries related to banking sector during the Question Hour, Goyal said corporate governance standards at public sector banks are much better than before.

Advertisement

PTI

Location: India, Delhi, New Delhi

Advertisement
Advertisement

Congress Leader Raja Warring Special Interview With Nimrat Kaur - 20 Thousand Crore - Sand - Oil

02 Jul 2022 7:41 PM
Punjab CM Mann announces major relief for Moongi cultivators

Punjab CM Mann announces major relief for Moongi cultivators

KHAAO PIYO AISH KARO Movie Public Review

KHAAO PIYO AISH KARO Movie Public Review

Guri & Ronak Joshi "Lover" Movie - Public Review

Guri & Ronak Joshi "Lover" Movie - Public Review

Advertisement