SRINAGAR: The Central Government on Wednesday ordered an inquiry under the Companies Act against the Kashmir Chamber of Commerce and Industries (KCC&I).
The Government has invoked the stringent Sections of the Companies Act 2013 into the affairs of the KCC&I, local english daily Excelsior reported.
The order signed by the Inquiry Officer, Syed Haamid Bukhari read that the Central Government and DG Corporate Affairs, Government of India has directed the Registrar of Companies Srinagar to conduct an inquiry into the affairs of the company.
The notice issued read: “The undersigned in exercise of power by virtue of section 206(4) of the Companies Act, 2013 order to furnish the information and documents within a period of 15 days”.
The letter read that the Inquiry Officer directs the company to furnish the board meeting statements of the last 5-6 years, bank statements and all the account statements of the company, details of donations and the source of funding besides the credentials of the office bearers in the company since 2010, and also all the minutes of the meetings that had taken place during past 7-8 years during its annual meetings.
“Further the company is directed to serve the notice to all the Directors and key managerial persons of the company and has been cautioned to show utmost compliance failing which penalty under relevant Sections of the Companies Act can be imposed,” read the order.
The KCC&I has been asked to furnish documents before the Inquiry Officer within 15 days.
The documents include the Company’s Memorandum and Articles of Association, two sets of Annual Accounts (Balance sheets and Income & Expenditure Accounts), particulars of Directors and Key Managerial Persons, details of members, office locations, a brief business profile, details of executive and financial powers, copies of minutes of meetings, register of contracts, details of grievances, information on loans and advances, bank account details, contributions/donations received since 2015-16, and information on the Database Management System used for maintaining electronic records.