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Corporate Laws Corporate Governance Committee The Institute of Chartered Accountants of India 28th April, 2022 ----------------------------------------------------------------------------------------------- ANNOUNCEMENT Sub: Important Message: Strict Compliance - regarding Verification/ Clar
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FAQ :
The MCA has observed that practising professionals are not always carrying out proper due diligence and verification when incorporating companies or LLPs.
Verification is required for documents pertaining to Directors, Key Managerial Personnel (KMP), witnesses to the Memorandum of Association (MoA) and Articles of Association (AoA), and the Registered Office.
The clarification is being issued by the Corporate Laws & Corporate Governance Committee of The Institute of Chartered Accountants of India (ICAI).
Practising professionals who do not ensure strict compliance with the verification requirements may face penal actions.
The key message is to ensure strict compliance with due diligence and verification procedures for Company and LLP incorporations as per the law.
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