Saturday, October 15, 2011

MCA WATERS DOWN DECISION ON FILING OF UPDATED ACCOUNTS

The Ministry of Corporate Affairs (MCA) has diluted its earlier decision and allowed companies not filing their updated balance sheets and profits and accounts to the Registrars of Companies (ROCs) to apply for liquidation through a speedy process. MCA has now revised its stand to allow ROCs to accept over two dozen types of submission, irrespective of the compliance level of registered firms.

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