Govt may ask unlisted firms to submit financial statements every quarter

The aim is to have updated financial details about systemically-important companies that are not listed, the official told PTI

Unlisted companies might soon be required to submit their financial statements to the government on a quarterly or half-yearly basis, according to an official.

There are more than 1.1 million unlisted companies that are active in the country and the proposal also assumes significance against the backdrop of instances of financial woes at some large unlisted entities.

The corporate affairs ministry is looking at introducing provisions in the companies law that would require unlisted firms to furnish financial statements every three months or six months.

The aim is to have updated financial details about systemically-important companies that are not listed, the official told