846 cases of non-compliance against companies
30 April 2012 11:10 PM IST
The Ministry of Corporate Affairs has registered 846 cases of prosecution against various companies for non-compliance of reporting norms under the Companies Act in the last three years.
For non-compliance of reporting norms, prosecutions have been filed against 366, 228, and 252 companies during financial years 2008-09, 2009-10 and 2010-11 respectively, according to a written reply filed by Minister of State for Corporate Affairs RPN Singh in the Rajya Sabha.
Singh said the government is taking steps to ensure diligent corporate financial reporting and has revised the Schedule VI of the Companies Act for more comprehensive disclosure by companies.
In reply to a question, the minister said a total of 1,215,306 companies, including public and private entities, were registered during 2008-09, 2009-10, 2010-11 and 2011-12.
Of these, 1,096,246 companies were from the private sector and rest 119,060 from the public sector.
For non-compliance of reporting norms, prosecutions have been filed against 366, 228, and 252 companies during financial years 2008-09, 2009-10 and 2010-11 respectively, according to a written reply filed by Minister of State for Corporate Affairs RPN Singh in the Rajya Sabha.
Singh said the government is taking steps to ensure diligent corporate financial reporting and has revised the Schedule VI of the Companies Act for more comprehensive disclosure by companies.
In reply to a question, the minister said a total of 1,215,306 companies, including public and private entities, were registered during 2008-09, 2009-10, 2010-11 and 2011-12.
Of these, 1,096,246 companies were from the private sector and rest 119,060 from the public sector.
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