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July 27, 2001
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Money > Business Headlines > Report July 27, 2001 |
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DCA orders inspection of 14 more firms named by SebiBS Economy Bureau The department of company affairs has ordered inspection of 14 more companies that have been named by the Securities and Exchange Board of India in its preliminary investigation report on the capital markets scam in March this year. The names of these companies could not be obtained. The department had earlier ordered a probe against 80 companies including a few belonging to the Anand Rathi group like Rathi Global, Anand Rathi Securities, Navaratan Capital & Securities, Rathi Capital & Services, Suresh Rathi Securities and Hitkari Finvest Pvt Ltd. HFCL, Zee Telefilms, DSQ Software, Amar Raja Batteries and First Global Finance are also being scrutinised for their alleged involvement in the scam that rocked the stock markets immediately after the budget this year. Top government officials told Business Standard that the department was investigating if any provisions of the Companies Act, 1956 had been violated by any of these companies. It is understood that the move is an immediate result of the stricture by the JPC against DCA for its tardiness. While they refused to associate the probes with the current joint parliamentary committee inquiry into the stock scam, in bringing the guilty to book. Powered by YOU MAY ALSO WANT TO READ:
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