Central Authorities Orders Probe into KCC&I Affairs, Invokes Firms Act

SRINAGAR: The Central Authorities on Wednesday ordered an inquiry below the Firms Act in opposition to the Kashmir Chamber of Commerce and Industries (KCC&I).

The Authorities has invoked the stringent Sections of the Firms Act 2013 into the affairs of the KCC&I, native english each day Excelsior reported.

The order signed by the Inquiry Officer, Syed Haamid Bukhari learn that the Central Authorities and DG Company Affairs, Authorities of India has directed the Registrar of Firms Srinagar to conduct an inquiry into the affairs of the corporate.

The discover issued learn: “The undersigned in train of energy by advantage of part 206(4) of the Firms Act, 2013 order to furnish the data and paperwork inside a interval of 15 days”.

The letter learn that the Inquiry Officer directs the corporate to furnish the board assembly statements of the final 5-6 years, financial institution statements and all of the account statements of the corporate, particulars of donations and the supply of funding in addition to the credentials of the workplace bearers within the firm since 2010, and likewise all of the minutes of the conferences that had taken place throughout previous 7-8 years throughout its annual conferences.

“Additional the corporate is directed to serve the discover to all of the Administrators and key managerial individuals of the corporate and has been cautioned to indicate utmost compliance failing which penalty below related Sections of the Firms Act will be imposed,” learn the order.

The KCC&I has been requested to furnish paperwork earlier than the Inquiry Officer inside 15 days.

The paperwork embody the Firm’s Memorandum and Articles of Affiliation, two units of Annual Accounts (Steadiness sheets and Revenue & Expenditure Accounts), particulars of Administrators and Key Managerial Individuals, particulars of members, workplace places, a quick enterprise profile, particulars of govt and monetary powers, copies of minutes of conferences, register of contracts, particulars of grievances, data on loans and advances, checking account particulars, contributions/donations acquired since 2015-16, and knowledge on the Database Administration System used for sustaining digital information.