Government Probe Targets Shree Cement: What's at Stake?

The Ministry of Corporate Affairs has initiated an investigation into Shree Cement, querying the firm under Section 210(1)(c) of the Companies Act, 2013. Despite the inquiry, Shree Cement claims its business operations remain unaffected. The company holds a significant position in the market with extensive production capacity.

The Ministry of Corporate Affairs (MCA) has launched an investigation into Shree Cement, a major player in the cement industry. The firm's regulatory filing disclosed receiving official notice on January 1 from the MCA's Regional Director in Ahmedabad.

The company has not revealed the specifics of the inquiry but assured stakeholders that it will comply by providing the requested information in due course. Invoking Section 210(1)(c) of the Companies Act, 2013, the MCA aims to scrutinize the company's activities in the public interest.

Despite the ongoing probe, Shree Cement, headquartered in Kolkata, insists the investigation will not impact its financial or operational activities. The company, with a cement production capacity of 50.4 MTPA and a power generation capacity of 742 MW, remains a significant entity in the industry.

(With inputs from agencies.)