Head News :
16,537 companies in the confirmed list of the task force set up to investigate the shell companies.
Government will first give notice and seek sanitation, action will be taken later
new Delhi. Government can cancel registration of 2.25 lakh companies in the current financial year. These are companies which did not file financial statements in 2015-16 and 2016-17. The Corporate Affairs Ministry has already taken action on 2.26 lakh companies. These companies have not filed financial reports or annual returns for two consecutive years or more.
3.09 lakh directors disqualified
– In 2013-14, 2014-15 and 2015-16 due to similar irregularities 3 lakh 9 thousand directors have also been disqualified.
2.25 lakh other companies also under the purview of action
– The Finance Ministry says that for this kind of action, the second phase will be started in the current financial year. 2,25,910 and companies have been identified, which can be processed. Action will be taken under section 248 of the Companies Act 2013.
Notice will be given before action
– The government will give such companies an opportunity to present their cleanliness. By sending a notice first, the reason for the default will be asked and the proposed action will be reported.
Task Force mobilized data for investigating shell companies
– In February 2017, a task force was formed to investigate the shell companies. The force, headed by Finance Secretary Hasmukh Aadhiya and Secretary of Corporate Affairs Ministry Injeeti Srinivas, gathered data of such companies, on the basis of which these companies are divided into 3 categories.
Under this, there are 16,537 shell companies in the confirmation list. This list has been prepared based on information from different agencies. There are 16,739 companies in the derived list. These are the companies whose directors are there, which are from conformed shell companies. The third is doubtful list with 80,670 names of companies.