Ministry of Corporate Affairs orders probe into Vakrangee's accounts
The Ministry of Corporate Affairs has ordered an investigation into the the books of accounts of Vakrangee Accounts for a period of three financial years under the Companies Act.
The scope of the probe will include the resignation of Price Water House as statutory auditors of the company. The MCA probe will also look into the tax filings, number of Vakrangee Kendras located in India and the shareholding structure of the company.
Vakrangee has welcomed the probe by the ministry saying that the company will cooperate with the investigation as it will help in clearing all doubts regarding its financials and books of accounts.
Vakrangee's shares have crashed over 90 per cent this year raising doubts in the minds of investors.
The scope of the probe will include the resignation of Price Water House as statutory auditors of the company. The MCA probe will also look into the tax filings, number of Vakrangee Kendras located in India and the shareholding structure of the company.
Vakrangee has welcomed the probe by the ministry saying that the company will cooperate with the investigation as it will help in clearing all doubts regarding its financials and books of accounts.
Vakrangee's shares have crashed over 90 per cent this year raising doubts in the minds of investors.