RoC seeks to investigate GoMechanic’s books after allegations of financial irregularities

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RoC seeks to investigate GoMechanic’s books after allegations of financial irregularities

The Registrar of Companies (RoC) is reportedly looking into the books of GoMechanic, a troubled after-sales service startup, amid allegations of financial irregularities.

In addition, according to sources cited in an ET report, Section 264(4) of the Companies Act empowers the RoC to conduct an inquiry into any company if the Ministry of Corporate Affairs directs it to do so. The RoC development comes just a few days after the National Company Law Tribunal (NCLT) issued a notice to GoMechanic following an insolvency petition filed by an operational creditor, DigiRovers. Another official cited by the publication stated that the case was appropriate for investors to file a class-action lawsuit against GoMechanic. Sequoia has ordered a forensic audit of GoMechanic’s books, despite no indication that the investor group will do so.

Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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The Registrar of Companies (RoC) is reportedly looking into the books of GoMechanic, a troubled after-sales service startup, amid allegations of financial irregularities.

In addition, according to sources cited in an ET report, Section 264(4) of the Companies Act empowers the RoC to conduct an inquiry into any company if the Ministry of Corporate Affairs directs it to do so. The RoC development comes just a few days after the National Company Law Tribunal (NCLT) issued a notice to GoMechanic following an insolvency petition filed by an operational creditor, DigiRovers. Another official cited by the publication stated that the case was appropriate for investors to file a class-action lawsuit against GoMechanic. Sequoia has ordered a forensic audit of GoMechanic’s books, despite no indication that the investor group will do so.

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Sreejit Kumar
Sreejit Kumar
Hi, I'm Sreejit Kumar, a journalist with a Master's degree in Journalism. Through my education and professional experience, I have developed a keen eye for detail and a passion for uncovering the truth. As an author for this news website, I am committed to delivering accurate, timely, and engaging stories that inform and entertain our readers.

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