The Government has set up an Expert Group headed by Shri Shardul Shroff to examine, inter-alia, making inspections under Section 209A of the Companies Act, 1956 more effective by involving professionals. The Group is yet to submit its final report to the Government.
The total number of companies in the country as on June 2004 was 6 lakh 52 thousand. Section 209A of the Companies Act, 1956 empowers the Registrars of Companies and other officers of the Central Government to inspect the books of account and other records of the companies.
(Release ID :3829)