MCA Writes to ICSI to inform members to adhere to Strict Compliance for Incorporation of a Company or LLP

MCA Writes to ICSI to inform members to adhere to Strict Compliance for Incorporation of a Company or LLP Ministry of Corporate Affairs has written a letter to the Institute of Company Secretaries of India [ICSI] to inform its Practising member to Adhere to Strict compliances while Incorporating Company or LLP. MCA written that it has been brought to the notice of the Ministry that the various instances have been observed where it has been found that practicing members of your Institute are not carrying out due diligence and verification of documents while incorporating a company or an LLP. The verification of documents pertains to directors / Key Managerial Personnel, witness to the Memorandum of Association & Articles of Association, and verification of Registered Office are strictly required to be carried out as per provisions of the Companies Act and Rules made thereto and LLP Act and Rules made thereto. MCA Further wrote that, a lack of compliances may attract penal action under appropriate provisions of the Act. This may be brought to the notice of all the practicing members of the Institute for strict compliance under intimation to this Office. Copy of the letter can be downloaded from Below Link.