The discrepancies found in the e-filed information of 12 listed companies by the Ministry of Corporate Affairs (MCA) are minor and do not signify fraud, said a senior MCA official.

Inconsistencies were found in the number of shareholders reported by some of the listed companies — share capital was listed under the column of shareholders, the number of shareholders was incorrectly reported as ‘one' by some companies and in ‘crores' by another company, explained the official.

“These are petty, inconsequential mistakes that can happen to anybody. At the first cursory glance, they look fraudulent in nature and so we had to send notices to the companies,” the official told Business Line on conditions of anonymity.

When the filing shifts to XBRL format, the data analysis will happen automatically and companies will need to be more careful about the quality of their filings, said the official.

Referring to media reports on the same that mentioned Suryalakshmi Cotton Mills Ltd as one of the companies under the scanner, the company informed the BSE, “We refer to the reports that have appeared in the press and in some TV channels regarding the action proposed to be taken by MCA…. In this connection our company's name has also been mentioned in the aforesaid reports. We have to clarify that the company has not so far received any communication about the alleged violations from either the MCA or office of the Regional Directors. The company believes there is no violation on its part in complying with any of the statutory requirements in this connection.”

Chennai-based Raj Television Network Ltd and Mumbai-based Turbotech Engineering Ltd are reportedly two of the other companies under enquiry.

Last week, the Ministry had said that the professionals who certified particulars furnished by these companies in the e-forms had neglected to discharge their duties. It said that these professionals from ICAI, ICSI and ICWAI had rendered themselves liable for penal action under Companies Act, 1956, and for professional misconduct.

The RDs would conduct an inquiry against the professionals, who have been barred from submitting any document on the MCA portal till final enquiry report is received. If the professional are found to be guilty in the preliminary enquiry, the institute concerned will be informed, which will then initiate an enquiry according to its regulations.

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