Fraudulent Companies under Section 209A of Companies Act, 1956

Posted on    13 December 2011

 

Some Complaints have been received against a few companies after getting just a registration number from the Registrar of Companies are active in the business of obtaining money under various schemes by alluring people, particularly in rural areas , on false promise of returns. However, regulation of collection of money by companies under various schemes does not fall within the ambit of the Companies Act, 1956. In order to detect possible violations of the Companies Act, 1956, inspection has been ordered under Section 209A of Companies Act, 1956 in respect of these companies.



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