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After the Satyam Scam the Ministry
of Corporate Affairs (MCA) has develop
an early warning system (EWS) software
to detect and warn the corporate frauds.
PTI has reported that the software
has detected financial irregularities
in 160 companies, out of which 30
are government.
An official source said that they
have asked the registrar to inspect
the 130 companies detected by the
software.
"We have asked the Registrar
of Companies to inspect the books
of about 130 companies based on the
preliminary findings of the EWS and
some 30 PSUs would be referred to
the Comptroller and Auditor General"—he
said.
Lets us hope that the government prevents
a major scam like Satyam at an early
stage.
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