Govt makes norms stringent for incorporation of firms

New panel will identify vanishing companies and take action against them

In order to identify vanishing with public shareholding, the government has formed a committee to monitor such firms and has made the norms stringent for incorporation of companies.

"A Coordination and Monitoring Committee (CMC) co-chaired by secretary Ministry of Corporate Affairs and chairman has been set up to identify and monitor the state of affairs of vanishing  companies," Minister of State for Corporate Affairs RPN Singh said in a written reply to the Lok Sabha today.

The will also take appropriate action against such in terms of the Act and Act, he said.

"...Norms for incorporation of have been made more stringent by introduction of Directors Identification Number (DIN), mandatory filing of all details of directors etc," he added further to a query whether norms for vanishing had been tightened in view of the multi-crore Satyam fraud and to protect the interest of small investors.

He said, "As on date 86 prosecutions have been filed against presently identified as 'vanishing companies'," the minister said.

image
Business Standard
177 22
Business Standard

Govt makes norms stringent for incorporation of firms

New panel will identify vanishing companies and take action against them

Press Trust of India  |  New Delhi 

In order to identify vanishing with public shareholding, the government has formed a committee to monitor such firms and has made the norms stringent for incorporation of companies.

"A Coordination and Monitoring Committee (CMC) co-chaired by secretary Ministry of Corporate Affairs and chairman has been set up to identify and monitor the state of affairs of vanishing  companies," Minister of State for Corporate Affairs RPN Singh said in a written reply to the Lok Sabha today.

The will also take appropriate action against such in terms of the Act and Act, he said.

"...Norms for incorporation of have been made more stringent by introduction of Directors Identification Number (DIN), mandatory filing of all details of directors etc," he added further to a query whether norms for vanishing had been tightened in view of the multi-crore Satyam fraud and to protect the interest of small investors.



He said, "As on date 86 prosecutions have been filed against presently identified as 'vanishing companies'," the minister said.

RECOMMENDED FOR YOU

Govt makes norms stringent for incorporation of firms

New panel will identify vanishing companies and take action against them

In order to identify vanishing companies with public shareholding, the government has formed a committee to monitor such firms and has made the norms stringent for incorporation of companies.

In order to identify vanishing with public shareholding, the government has formed a committee to monitor such firms and has made the norms stringent for incorporation of companies.

"A Coordination and Monitoring Committee (CMC) co-chaired by secretary Ministry of Corporate Affairs and chairman has been set up to identify and monitor the state of affairs of vanishing  companies," Minister of State for Corporate Affairs RPN Singh said in a written reply to the Lok Sabha today.

The will also take appropriate action against such in terms of the Act and Act, he said.

"...Norms for incorporation of have been made more stringent by introduction of Directors Identification Number (DIN), mandatory filing of all details of directors etc," he added further to a query whether norms for vanishing had been tightened in view of the multi-crore Satyam fraud and to protect the interest of small investors.

He said, "As on date 86 prosecutions have been filed against presently identified as 'vanishing companies'," the minister said.

image
Business Standard
177 22

Upgrade To Premium Services

Welcome User

Business Standard is happy to inform you of the launch of "Business Standard Premium Services"

As a premium subscriber you get an across device unfettered access to a range of services which include:

  • Access Exclusive content - articles, features & opinion pieces
  • Weekly Industry/Genre specific newsletters - Choose multiple industries/genres
  • Access to 17 plus years of content archives
  • Set Stock price alerts for your portfolio and watch list and get them delivered to your e-mail box
  • End of day news alerts on 5 companies (via email)
  • NEW: Get seamless access to WSJ.com at a great price. No additional sign-up required.
 

Premium Services

In Partnership with

 

Dear Guest,

 

Welcome to the premium services of Business Standard brought to you courtesy FIS.
Kindly visit the Manage my subscription page to discover the benefits of this programme.

Enjoy Reading!
Team Business Standard