Registrar of Companies raids popular Audit Firm in Chennai and find 1500 Fraud Companies registered.
Racket behind Incorporation of over 1500 fraud Companies in Chennai busted!
The Registrar of Companies, RoC, in a search and seizure operation conducted in the registered office of a popular Audit and legal firm in Chennai, “Kanakkupillai.com” registered as Govche India Pvt.Ltd busted a racket involved in forgery and creation of fake documents for incorporating over 1500 companies all over India including the infamous Aarudhra Gold and their group of Companies.
Registrar of Companies, the regulatory arm of Ministry of Corporate Affairs is empowered to conduct search and seizure operations under Section 209 of Companies Act 2013.
The RoC and his team of officers from the Indian Corporate Law Service, ICLS, from the Ministry of Corporate Affairs conducted the search and seizure operations at the same time in the registered office of Kanakkupillai.com at West Karikalan street, Adambakkam and in the residence of the Chartered Accountant, Smt. K. Kiruthiga at Velachery, who is now found to have ‘signed and certified’ the fake incorporation forms used for registration of over 1500 Companies via a webportal Kanakkupillai.com.
The officials conducted the operation based on the documents filed and scrutinized at Central Registration Centre (CRC) which is now the centralised centre for incorporations of companies and LLPs all over India. It was revealed that kanakkupillai.com in connivance with CA Kiruthiga, the certifying professional created fake address proofs and fabricated bank statements for getting the company incorporated with the ROC. It is seen that she has used the same address for incorporating multiple number of companies by creating various forged documents. The same professional was also appointed as the Statutory auditor for Aarudhra gold and its group companies which was recently in the news for defrauding the public an amount of over 2100 crore rupees.
She is also appointed as the Statutory auditor in more than 300 Companies.
During the raids, ROC has seized physical documents and various electronic gadgets, computers etc which were used for the creation of fabricated and forged Documents. About 50 employees associated with the portal kanakkupillai.com is also under the lens of the authorities.
It is further learnt that the office of ROC is stepping up its watch on the Chartered Accountants and Audit firms filing such fake documents with MCA and stringent action against these kind of malpractices shall follow in the light of increasing economic offences in the state. Fake companies incorporated are being rampantly abused by the promoters and directors for money laundering and other serious financial crimes after luring the public to invest/deposit in these fraud entities. Public are also advised to be cautious while investing their money in various schemes which promise unrealistic returns.
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