Press Esc to close
Tuesday 07 July 2015
News updated at 12:01 PM IST
Weather
Max: 30.7°C
Min : 20.6°C
In Bengaluru
Generally cloudy

'Web firms not being under Companies Act a concern'

Bangalore, Oct 8, 2013, DHNS:

While there are many laudable features in the new Companies Act, the absence of any provision to bring Internet-based companies based out of India within the ambit of the Act is a drawback, according to company secretary V Sreedharan, who was speaking at a meet organised by the FKCCI on Tuesday.

Sreedharan said that such instances have cheated the public in the past and managed to remain untraced. This is an issue that needs to be addressed, he said.

On the government tightening section 25 of the Act, he said that it was due to misuse of the section by certain companies. On the whole, he said that the focus on self-regulation, reducing number of approvals, were welcome from a business perspective.

On the role of auditors, he said that it is difficult to define “material fraud” as there is no index to indicate it.


Go to Top

Photo Gallery
'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

'Umbrella Workshop' where people paint umbrellas with colors in Navi Mumbai...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Visitors looking the BSF weapons on the occasion of the 50th anniversary of the BSF...

Mobile app ' Namma Bellad' launched in Bengaluru...

Mobile app ' Namma Bellad' launched in Bengaluru...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

Sadhvi Niranjan Jyoti feeds cows during her visit to Gir Seva Goshala in Ahmedabad...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

An highly decorated Vruksha hall during the 'BJP Maha Samparka Abhiyan 2015'...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

A fire broke out at Sony manufacturing plant in Navi Mumbai on Sunday...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

Pilgrims crosses the mountains as they move towards Amarnath Holy Cave Shrine...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A Kashmiri Muslim woman offers noon prayers in the ruins of an ancient Hindu temple...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

A security man keeps vigil on the mountains near Amarnath Holy Cave Shrine 3880 meters high...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

An Indian boy practices Mallakhamb, a traditional Indian gymnastic sport...

Copyright 2014, The Printers (Mysore) Private Ltd., 75, M.G Road, Post Box 5331, Bengaluru - 560001
Tel: +91 (80) 25880000 Fax No. +91 (80) 25880523