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The firm trimmed its consolidated net loss (pre-ESOP costs) to Rs 35.23 crore in FY25, down from Rs 104 crore in FY24.
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In a consultation paper issued on Thursday, SEBI highlighted the fact that RTAs provide services to around 35,000 unlisted companies as against only around 4,000 listed firms.
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Reports on digital lending firms like Omlette and Jump Monkey submitted to MCA; crackdown on predatory fintech apps intensifies
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Tribunal orders wide-ranging interim reliefs on MCA’s plea citing fund diversion, financial misreporting, and public interest concerns
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The MCA is likely to act on the findings and may even refer the case to the Serious Fraud Investigation Office, depending on the complexity and scale of the suspected violations.
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In June 2023, the ministry of corporate affairs ordered an investigation against Hero MotoCorp to look into allegations of fund diversion and corporate governance violations
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The western region, which includes Mumbai and Pune, have the highest number of the pending cases
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The approval has been withheld due to apparent non-compliance with a Companies Act provision which states that an unlisted company cannot offer its shares to more than 200 people in a financial year, without making a public offering.
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The company says it has responded to the ministry's queries and has no Chinese investor now
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The ministry has found that many of these companies are non-existent at their registered addresses. In some cases, they had received investment but were now into businesses other than what they were registered for. These are incorporation-related frauds.
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The ROC, which operates under the ministry of corporate affairs, has completed an initial probe into Byju’s and has recommended a further investigation.
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These companies are found to have incorporation related fraud or financial frauds. Some companies have an Indian director, but the bank account is operated from China.
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The decriminalisation of these Acts is likely to be a part of Jan Vishwas Bill II. The next edition of the Jan Vishwas Bill is likely to decriminalise a total of over 100 provisions in various Acts, including the Income-Tax Act.
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At present, the mandated turnover limits are set at Rs 25 crore for companies in six regulated sectors and Rs 35 crore for those in 33 unregulated sectors
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In the report, Nasscom and AZB and Partners were said to be "in favour of ex-ante regulation" for digital markets, which refers to regulatory measures implemented in anticipation of potential problems
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The appointment is effective from November 15, 2023 and is valid for three years, Jio Financial Services said in a regulatory filing.
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The proposed scheme seeks to reduce the time required to reclaim shares from up to a year now to just 60 days.
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The committee, which is considering stronger regulations for unlisted companies, was set up in the wake of governance issues coming to light at a number of companies.
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The time taken for voluntary closure has already come down to 110 days since the Ministry of Corporate Affairs operationalised Centralised Processing for Accelerated Corporate Exit (C-PACE) on May 1, 2023.
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The increased asset and revenue thresholds described above are applicable for a period of 2 years, with effect from March 7, 2024.
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Against the backdrop of heightened tensions, there has been tighter scrutiny of investments from the neighbouring country.
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The government ordered an investigation on Hero MotoCorp in June 2023 to probe an alleged violation of corporate governance norms and fund diversion.
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Currently RBI, Sebi and the Ministry of Corporate Affairs (MCA) are discussing a framework for Indian listed companies to move to GIFT City. This is expected to help companies boost their valuation and access better global opportunities.
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All the big investigations, including ZEEL, are likely to expose violation of related party transactions
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This is currently in development and there is no date for release yet. The feature was rolled out last November for Android and iOS devices.
