Patanjali Ayurved under MCA lens for 'company law lapses'
New Delhi: The
ministry of corporate affairs
(MCA) has initiated the process for a probe into the affairs of
Patanjali Ayurved
to ascertain if there have been any
corporate governance
or financial lapses there, a person aware of the development said.
The ministry is learnt to have sent a notice for this purpose to the company under Section 210 of the Companies Act.
This section empowers the government to launch a probe into a company in public interest, among other conditions.
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The ministry's decision, said the person cited above, follows inputs from government agencies about alleged
financial irregularities
at the company.
In response to ET's query, a Patanjali Ayurved spokesperson said "no communication has been received so far" from the MCA on this issue. An email sent to the ministry remained unanswered until the paper went to press. In April 2024,
Patanjali Foods
, the listed unit of the closely-held Patanjali Ayurved, said it had received a show-cause notice from the Directorate General of GST Intelligence in Chandigarh over a ₹27.5 crore tax claim.
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Earlier, the Supreme Court had also restrained the company from putting up misleading advertisements.
The ministry has in recent years stepped up its scrutiny of corporate governance and related lapses at companies. Recently, it has launched an investigation into Gensol Engineering for alleged fraud there.
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