RoC to check GoMechanic's books amid allegations of irregularities: Report

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with directions from the Ministry of Corporate Affairs (MCA)

The Registrar of Companies (RoC) has sought an examination of the books of GoMechanic's holding entity, Targetone Innovations Pvt Ltd, following allegations of financial irregularities and corporate governance issues levelled against the startup, according to a report published in The Economic Times (ET).

According to the Companies Act, Section 264 (4), the RoC has the authority to conduct an inquiry into the affairs of a company in line with the directions from the Ministry of Corporate Affairs (MCA).

Last week, the National Company Law Tribunal (NCLT) issued a notice to GoMechanic over an insolvency plea filed against