MCA mulls imposing fines on unicorns over delay in filing financials

Swiggy had delayed its FY21 result filing by 11 months and Ola Electric was at least 13 months late in filing the financials with the RoC

The Ministry of Corporate Affairs (MCA) may soon impose penalties on several unicorns in India after they delayed filing their audited financials. The MCA is of the view that the move would improve compliance, a report in Hindu BusinessLine stated. 

Byju's is already 17 months late in filing the results for FY21. In August, the MCA had asked the edtech major why it had not filed the results. On July 4, the company said that it would file its results before July 14. Now, the company is reportedly planning to file the results by September 6. 

Swiggy had delayed its FY21