State Registrar of Companies-cum-Official liquidator B Mishra on Sunday assured investors that the Government was taking all necessary actions against the fraudulent companies who were cheating the investors.
He was speaking at an investor awareness programme organised by the Institute of Company Secretaries of India (ICSI). He cited various examples and described how fly-by-night companies were giving attractive returns to lure the investors' funds. He also elaborated various penal provisions under different statues and the role of the ROC, SEBI, Company law Board in preventing cheating cases and advised the investors to stay away from such fraudulent companies. ICSI Bhubaneswar chapter chairman A Acharya said that the investors must read carefully about the companies and know their risks and returns before investing. He also laid emphasis on the role and responsibilities of the investors.