MCA has come out with a fantastic move to prevent money laundering and also bringing Professionals and Company under the ambit of money laundering.
Following new insertions are made in the new Directions:
1. Disclosure of Investment in virtual currency or bitcoin.
2. Disclosure of Benami Property.
3. Relationship with struck off Company.
4. Wilful Defaulter if any have relationship with the Company.
5. Details of undisclosed income.
6. Title deeds of Immovable property not in the name of the Company.
This increases the scope of due diligence on Companies.
Read the entire update here...
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