Govt mandates companies to disclose investments in cryptocurrencies

Govt asks companies to also reveal CSR spend, benami property transactions from FY22

The Ministry of Corporate Affairs (MCA) has made amendments to rules in the Companies Act, mandating firms to disclose their investments in cryptocurrencies, spend on corporate social responsibility (CSR), and benami property transactions, among others, in their financial statements from the next financial year.

Companies will also have to disclose their relationship with struck-off firms and the details of title deeds of immovable property not held in the name of the company.

Nischal S Arora, partner at Nangia Anderson, said companies would have to disclose cryptocurrencies in which they had traded; profit and losses in such trades; and deposits or