MCA likely to penalise unicorns for delay in filing financials: Report
Shortpedia
Content Team
Image Credit: Inc42
MCA is mulling to impose penalties on Indian unicorns that are putting off filing their financials. According to the Hindu BusinessLine report, the MCA believes that the said move will improve compliance among the homegrown unicorns. As per the current regulations and rules, a company (unicorn) has to file its annual financial report with the RoC in a span of seven months after the closure of a financial year. If
