MCA orders of inspection of DLF books
Quotes

MCA orders of inspection of DLF books

Last Updated: Thursday, March 01, 2012, 23:52
 
 Comment 0
 
MCA orders of inspection of DLF books
New Delhi: The Corporate Affairs Ministry has ordered inspection into the books of accounts of realty major DLF in view of complaints received from investors regarding company's accounts.

"We have ordered the Regional Director (North) to carry out inspection under Section 209 of the Companies Act. There were several complaints from investors alleging that there are anomalies in the company's books," a senior official said.

Under section 209 of the Act, companies are required to maintain "at its registered office proper books of account" and the MCA has the power to call and scrutinise those books.

An e-mail sent to DLF remained unanswered despite repeated attempts.

The sources further added that the Securities and Exchanges Board of India (Sebi), too, has sent a reference to the MCA in this regard.

DLF, the country's largest realty firm, is already facing a probe by market regulator Sebi on an allegation that DLF has duped a city-based businessman of Rs 34 crore in collusion with its associate firm Sudipti Estates.

Sebi is carrying out an investigations of DLF, to check for violations, if any, of the provisions of the erstwhile Sebi (Disclosure and Investor Protection) Guidelines, 2000, by the company.

In August last year, competition watchdog CCI had imposed a penalty of Rs 630 crore for abuse of dominant market position. It also issued a 'cease and desist' order against imposing unfair conditions on the buyers of its flats.

DLF had challenged the CCI order with the Competition Appellate Tribunal (COMPAT), which had stayed CCI's order.

PTI



First Published: Thursday, March 01, 2012, 23:52


Comments


comments powered by Disqus
Honda Mobilio MPV
Honda Mobilio MPV
BRICS Annual Summit 2014
BRICS Annual Summit 2014
Tata Zest Standout Features: In Pics
Tata Zest Standout Features: In Pics
New car launches in July
New car launches in July
Tata Zest first drive review: In pics
Tata Zest first drive review: In pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved