Large unlisted companies may be regulated

Under the proposed framework, such entities could be mandated to submit quarterly filings of financial statements with the MCA, among others, said the person, who did not wish to be identified. The proposal gained traction after the alleged corporate governance lapses at edtech firm Byju’s this year. The person said once the Company Law Committee under MCA secretary Manoj Govil takes a final call on such a regulatory framework, it could classify large unlisted companies based on factors such as their revenue and turnover. “A final decision on this issue will be taken by the committee soon,” he said.

More To Explore

Advertiser Disclosure

Great-investor.com helps users across the globe to find out The latest news, Guides, and Info about finance and investments. Furthermore, our content and research teams do not participate in any advertising planning nor are they permitted access to advertising campaign data.

Disclaimer

It is our organization’s primary mission to provide reviews, commentary, and analysis that are unbiased and objective. While great-investor.com has some data verified by industry participants, it can vary from time to time. Operating as an online business, this site may be compensated through third party advertisers. Our receipt of such compensation shall not be construed as an endorsement or recommendation by great-investor.com, nor shall it bias our reviews, analysis, and opinions. Please see our General Disclaimers for more information.

The information on this website does not constitute investment advice or a recommendation or a solicitation to engage in any investment activity. This website and its content are not intended for residents of the UAE, US, Canada, Australia, UK, Russia, North Korea, China, Japan, Hong Kong, Singapore and Iran.

Top10 International FZ LLE | 17th Floor, Creative Tower | 4422 | Fujairah | TRN: 100608946800003