MCA orders inspection of accounts of FT, MCX & NSEL

The Corporate Affairs Ministry has ordered an inspection of books of accounts of Financial Technologies, MCX and NSEL, reports CNBC-TV18 Malvika Jain.

Sachin Pilot had indicated that they had sought an enquiry report from the Registrar of Companies and on the basis of that report, this inspection has been ordered under Section 209(A) of the Companies Act. Also read: CBI registers preliminary inquiry into NSEL case Even though no timeline has been set for the regional directorate to submit its report to the ministry of corporate affairs, it is likely that the report may be out over a period of two months. On the basis of that, the Serious Fraud Investigation Office (SFIO) probe could be ordered by the corporate affairs ministry. Moreover, even in the Satyam’s scam it was with the inspection of accounts that the probe began and it eventually, culminated with a restructuring of the boards of the company.