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Business News/ Companies / News/  70,000 firms ready to deal with virus crisis
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70,000 firms ready to deal with virus crisis

Companies that reported compliance in a form issued by the corporate affairs ministry include most of the large corporations
  • The ministry had urged companies and limited liability partnerships to implement staggered timings for workers
  • Finance minister Nirmala Sitharaman had said earlier in a twitter post that the Company Affirmation of Readiness report was a simple ‘Yes/No’ form introduced as a confidence building measure during a public health emergency.Premium
    Finance minister Nirmala Sitharaman had said earlier in a twitter post that the Company Affirmation of Readiness report was a simple ‘Yes/No’ form introduced as a confidence building measure during a public health emergency.

    NEW DELHI : More than 70,000 companies on Monday told the ministry of corporate affairs (MCA) that they have implemented the work-from-home policy and are prepared to deal with the Covid-19 crisis.

    The companies, which have filled a compliance form issued by the ministry, include most large corporations, said a government official requesting anonymity.

    The form could be submitted by the authorised signatory of the company using a ‘one time password’.

    “Reporting compliance on readiness to deal with the Covid-19 crisis is only meant as a confidence building measure. There is no enforcement action or penalty. The response from businesses has been overwhelming," the official said. Finance minister Nirmala Sitharaman had earlier said in a Twitter post that the Company Affirmation of Readiness report was a simple ‘Yes/No’ form, introduced as a confidence-building measure during a public health emergency.

    Last week, Injeti Srinivas, secretary, MCA, had urged businesses to extend the work-from-home policy for employees to the maximum extent possible, while seeking a compliance report on their readiness to fight Covid-19. The ministry also urged companies and limited liability partnerships to implement staggered timings for workers.

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    Published: 23 Mar 2020, 07:07 PM IST
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