The Chandigarh branch of the Institute of Chartered Accountants of India (ICAI) on Sunday hosted an investor awareness programme attended by over 300 CAs and financial experts of the region.
The programme was organised by the committee on financial markets and investors' protection of ICAI jointly with the union ministry of corporate affairs.
Alok Kumar, director, ministry of corporate affairs, was the chief guest while Raj Singh, Registrar of Companies, Punjab and Chandigarh, was the guest of honour. CA Charanjot Singh Nanda, central council member and chairman committee on financial markets and investors' protection was the main speaker.
CA Uma Kant Mehta, chairman, Chandigarh branch (ICAI), stressed upon financial literacy for the masses.
The recent frauds by chit fund companies or other organisations wherein potential investors were offered high returns to defraud them were alarming, Mehta said.
Raj Singh said, "These days, companies are coming with various innovative and lucrative schemes in whose traps the common man falls and loses his hard-earned money. Educating the investors on how to prevent such investment scams will benefit them."
Alok Kumar highlighted the key features of the Companies Act, 2013, in which various preventive measures are taken and also monetary penalties enhanced so as to act as deterrent against fraudsters.