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Bharti accounts under RoC lens since November
Sat, 05 May 2012 00:52:20 +0530
Business Standard Economy Policy News

The regional director (RD) of the ministry of corporate affairs and the registrar of companies (RoC) received several complaints against six telecom companies, including Reliance Communications, Vodafone, Idea and Bharti Airtel.

However, RoC/RD had not found a breach of the Companies Act by any, expect perhaps for Bharti Airtel, according to an internal note dated April 30. In the case of Bharti, the inspection of books of accounts and other records have been ordered under section 209A of the Act, the note added.
A Bharti spokesperson said, “An intimation for an inspection under Section 209A, requesting for routine documents, was received by us in November 2011. As requested, we have provided all documents such as annual reports, memorandum and articles of association, details of directors, auditors, PAN no. No request for any document is pending with us and we believe we are in full compliance of all norms, as we have a comprehensive compliance programme involving regular statutory and voluntary reviews and audits, training and development programmes in place. We can also confirm that neither the DoT nor any other government department has communicated with us in this regard.”
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