Companies Bill 2011: Private Companies Under SEBI Jurisdiction & Audit Firm Accountable For Frauds in Companies

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Privately-held and unlisted companies will come under SEBI jurisdiction  if they collect or propose to collect money through sale of shares from 50 and more individuals under Companies Bill 2011 , which is being formulated by Ministry of Corporate Affairs. The proposals are being incorporated on account of recent events like- Satyam Fraud and SEBI-Sahara…

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