Current Affairs - National - Discussion

A Memorandum of Understanding (MOU) was signed between Ministry of Corporate Affairs (MCA) and Securities and Exchange Board of India (SEBI) for automatic data exchange in order to tackle the rising instances of fraud. It was signed by Shri KVR Murty, Joint Secretary, MCA, and Smt. Madhabi Puri Buch, Whole Time Member, SEBI in the presence of senior officers from both the organizations. It will facilitate the sharing of data and information between SEBI and the MCA on an automatic and regular basis. Along with this, SEBI and MCA will share any information available in their respective databases on request for the purpose of carrying out scrutiny, investigation, inspection, and prosecution. Information like the details of suspended companies delisted companies, shareholding pattern from SEBI and financial statements filed with the Registrar by corporates, returns of allotment of shares, audit reports relating to corporates will be shared.