400 CA-CS Generosity shown on China’s shell companies, now big action will be taken – न्यूज़लीड India

400 CA-CS Generosity shown on China’s shell companies, now big action will be taken


Napenge 400 ca-cs!

According to a report in the English newspaper The Hindu, the central government has recommended disciplinary action against 400 chartered accountants and company secretaries. All these CMs and CSs are alleged to have incorporated Chinese shell companies by allegedly violating norms and rules in metros. After the violent clashes with the Chinese Army PLA in Galvan Valley of Eastern Ladakh in 2020, the Indian government has taken a number of steps against suspected Chinese companies and the current step is also included in the same.

Preparing for action based on intelligence

Preparing for action based on intelligence

A senior government official has told the concerned newspaper that the chartered accountants and company secretaries against whom disciplinary action has been initiated have punished a large number of Chinese-owned or Chinese-run shell companies in big cities under the rules. and had helped to incorporate without adequate compliance with the law. The Corporate Affairs Ministry has recommended action on the basis of inputs received from the Financial Intelligence Unit for the last two months. A ministry spokesperson did not comment on this.

waiting for the investigation to be completed

waiting for the investigation to be completed

The Institute of Chartered Accountants of India (ICAI), the statutory body dealing with Chartered Accountant matters in the country, said in a statement to the newspaper, “The Disciplinary Directorate of ICAI is receiving complaints against CA professionals from various Registrars of Companies across the country. Which is about their alleged links with companies linked to Chinese nationals. However, the ICAI has refused to comment on his alleged fault before the completion of the investigation.

The blame has fallen on many Chinese companies

The blame has fallen on many Chinese companies

The Ministry of Corporate Affairs, in April this year, took action against CAs and CSs by their respective institutes to make them more accountable and take time-bound disciplinary action, including the Chartered Accountants Act, 1949, the Cost and Work Accountants Act, 1959 and the Companies Secretaries Act, was amended in 1980. The newspaper is awaiting the response of the Institute of Company Secretaries of India (ICSI) in this matter. Income Tax officials have also raided about half a dozen Chinese companies related to telecom, fintech and construction since October last year on charges of income tax evasion.

Also read- Rebellion may erupt against Chinese President Xi Jinping, CCP immediately called millions of retired cadresAlso read- Rebellion may erupt against Chinese President Xi Jinping, CCP immediately called millions of retired cadres

FDI from China fell, but record increase in trade

FDI from China fell, but record increase in trade

Although foreign direct investment (FDI) from Chinese companies has fallen sharply in the last two years due to strict government measures, the bilateral trade between the two reached a record $125 billion last year. According to the data of the Department for Promotion of Industry and Internal Trade, FDI from China was Rs 15,422 crore in 2020 between April and June (from the year 2000), but in the first quarter of 2022 it has come down to Rs 12,622 crore. (pictures – symbolic)

A note to our visitors

By continuing to use this site, you are agreeing to our updated privacy policy.

%d bloggers like this: