MCA has ordered probe against 63 West Bengal cos: Sitharaman

The Corporate Affairs Ministry has ordered probes against 63 companies in West Bengal for alleged misappropriation of money raised from public, Parliament was informed today.
"On the basis of complaints received alleging misappropriation of funds collected from public by certain companies in West Bengal, the Ministry has ordered investigation...Into the affairs of 63 companies," Minister of State for Corporate Affairs Nirmala Sitharaman informed the Rajya Sabha in a written reply.
Further, Sitharaman informed the house that a total of 1,82,417 companies and 1,168 Limited Liability Partnership (LLPs) were registered in West Bengal till June-end, 2014.
To a query on Corporate Social Responsibility (CSR) rules, the Minister said that specific difficulties of complying with these norms by companies including Public Sector Undertakings (PSUs) "are likely to be brought to the notice of this Ministry (Corporate Affairs) only when companies implementing CSR policies gain experience of working such provisions".

"This Ministry has, however, not received any communication from any PSU requesting for revising the 2 per cent CSR norms," Sitharaman said.
"At present there is no proposal to revise the CSR provision of the Companies Act 2013," she added.
Under the new Companies Act, certain class of profitable entities are required to shell out at least two per cent of their three-year annual average net profit towards CSR activities.