Shree Cements Gets Inspection Notice From MCA After Tax Evasion Charge
Shree Cements Ltd. said it will comply with the directions.
Shree Cements Ltd. received an inspection notice from the Ministry of Corporate Affairs on Wednesday, nearly a month after the Income Tax Department's search at its offices revealed a Rs 23,000 crore tax evasion.
The MCA order came under Section 206(5) of the Companies Act, under which the central government can direct inspection of the books and papers of a company.
"This is to inform that the Company has today received a letter dated 19.7.2023 from the office of Regional Director, Ministry of Corporate Affairs, informing order of inspection under Section 206(5) of the Companies Act, 2013," Shree Cements said in an exchange filing.
The company said it will comply with the directions.