You are here: Home » Markets » News
Business Standard

18 probes assigned to SFIO based on market research: Meghwal

The SFIO comes under the administrative control of the corporate affairs ministry

Press Trust of India  |  New Delhi 

Arjun Ram Meghwal
Arjun Ram Meghwal

As many as 18 investigations were assigned to the based on reports submitted by its market research and analysis unit, the government said today.

The Market Research and Analysis Unit (MRAU) was set up by the (SFIO) in 2009.

"During the last two years, the has submitted 28 research reports based on which investigations were assigned to the in respect of 18 companies," Minister of State for Corporate Affairs told the Lok Sabha in a written reply.

The comes under the administrative control of the corporate affairs ministry.

In a separate written reply, the minister said the action was taken against five "unregistered companies" during the last three years.

He was responding to a query on the number of firms operating in the country without getting themselves registered with the Registrar of Companies (RoC).

To a question related to corporate social responsibility (CSR) activity under the Companies Act, the minister said there is no proposal to "incorporate more activities under Schedule VII of the Act".

The Schedule VII lists the activities that can be undertaken by companies under their policies, Meghwal said in another written reply.

Under the Act, certain classes of profitable companies are required to shell out at least 2 per cent of their 3-year annual average net profit towards activities. In the case of non-expenditure, such entities are required to provide the reasons for the same to the ministry.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: Fri, July 28 2017. 15:55 IST