MCA Investigates Colliers India Amid Past Project Terminations
The Ministry of Corporate Affairs is inspecting the books of Colliers International (India) Property Services after their services were terminated for deficiencies in the Farakka-Raiganj NH-12 project. The firm was barred from NHAI projects in West Bengal in 2018, and further inspections are underway as per the Companies Act.
- Country:
- India
The Ministry of Corporate Affairs (MCA) announced on Monday that it is conducting an inspection of the books of Colliers International (India) Property Services Ltd. This move comes after concerns regarding the company's termination as a valuer for the NH-12 Farakka-Raiganj project due to service deficiencies.
Minister of State for Corporate Affairs, Harsh Malhotra, informed the Lok Sabha that Colliers was dismissed by the National Highways Authority of India (NHAI) back in April 2015. Subsequently, the firm was prohibited from participating in any ongoing or future NHAI projects in West Bengal as of January 2018.
Despite an inspection of the company's Directors' Reports from the fiscal years 2017-2018 to 2019-2020, no mentions of these issues were reported. The Ministry is now leveraging its authority under Section 206 of the Companies Act, 2013, to inspect the company's records, responding to various complaints related to the company's operations.
(With inputs from agencies.)
ALSO READ
Delhi HC says it will hear on July 30 pleas challenging Centre's nod to release film 'Udaipur Files - Kanhaiya Lal Tailor Murder'.
Delhi High Court to Review Controversial Release of 'Udaipur Files - Kanhaiya Lal Tailor Murder'
Delhi HC was informed that CBFC is yet to re-certify film 'Udaipur Files - Kanhaiya Lal Tailor Murder'.
SC puts on hold Calcutta HC decision staying new list of other backward classes (OBCs) prepared by West Bengal government.
West Bengal CM Mamata Banerjee begins protest march in Bolpur against alleged attacks on Bengali migrants in other states.
Google News