Educomp under RoC radar; stock tanks 12%
Shares of Educomp Solutions tanked nearly 12 per cent Tuesday after the company, along with 6 others, has come under the scanner of the Ministry of Corporate Affairs.
By ET Bureau |
MUMBAI: Shares of Educomp Solutions tanked nearly 12 per cent Tuesday after the company, along with 6 others, has come under the scanner of the Ministry of Corporate Affairs.
The Corporate Affairs Minister Prem Chand Gupta on Monday said that the government has ordered inspection of the accounts of Educomp and six other state-owned companies.
The RoC would look into the possible violation of the Companies Act and then prosecution would follow if any company is found guilty of flouting the norms prescribed by the Act.
The other public sector companies that have come under the scanner of the MCA are Central Coalfields Bharat Coking Coal Ltd, Bengal Chemicals and Pharmaceuticals Ltd, Bihar Rajya Pul Nirman Nigam Ltd and Bihar State Tourism Development Corporation.
At 3 pm, the company's shares were down 11.81 per cent at Rs 1498 on the BSE.
The Corporate Affairs Minister Prem Chand Gupta on Monday said that the government has ordered inspection of the accounts of Educomp and six other state-owned companies.
The RoC would look into the possible violation of the Companies Act and then prosecution would follow if any company is found guilty of flouting the norms prescribed by the Act.
The other public sector companies that have come under the scanner of the MCA are Central Coalfields Bharat Coking Coal Ltd, Bengal Chemicals and Pharmaceuticals Ltd, Bihar Rajya Pul Nirman Nigam Ltd and Bihar State Tourism Development Corporation.
At 3 pm, the company's shares were down 11.81 per cent at Rs 1498 on the BSE.
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