The Ministry of Corporate Affairs has summoned the directors of Usha Martin Ltd. to appear personally before the MCA officials at the office of the Registrar of Companies (West Bengal) on Friday.
Non-compliance of the summons would lead to prosecution under relevant sections of the Companies Act 2013, the Ministry said in the notice.
While earlier it was said that all UML directors might have to appear, it was later clarified by the RoC that the summons were meant only for Rajeev Jhawar (managing director), Pravin Kumar Jain (managing director), Rohit Nanda (CFO-KMP) and Shampa Ghosh Ray (company secretary).
The other names referred to in the summons were only for the sake of information.
According to the summons, an inquiry was asked to be conducted in respect of UML and notices were sent to the company between September and October 2018 based on complaints filed by Basant Kumar Jhawar, former chairman, between December 2017 and September 2018.
They will now be required to substantiate their replies with documentary evidence with the minute books of board meetings for the last five years.