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2.24 lakh companies struck off for being ictive, suspicious transactions

2.24 lakh companies struck off for being ictive, suspicious transactions

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  6 Nov 2017 12:00 AM GMT

New Delhi, Nov 5: The government has struck-off around 2.24 lakh companies till date for remaining ictive for a period of two years or more, including those which were involved in suspicious fincial transactions in days following demonetisation, it was announced on Sunday. Following the action of striking-off of defaulting companies, restrictions have also been imposed on operation of their bank accounts, said a statement from the Corporate Affairs Ministry. It added that a prelimiry inquiry on the basis of information received from 56 banks revealed that 35,000 companies involving 58,000 accounts saw suspicious transactions with over Rs 17,000 crore being deposited and withdrawn from those accounts post-demonetisation. “In one case, a company which had a negative opening balance on November 8, deposited and withdrew Rs 2,484 crore post-demonetisation,” the statement said.

“Apart from the restrictions on bank accounts, action has also been taken to restrict sale and transfer of moveable and immoveable properties of struck-off companies until they are restored. The state governments have been advised to take necessary action in this regard by disallowing registration of such transactions,” it added. The Corporate Affairs Ministry said that the information with respect to such companies had been shared with enforcement authorities, including the Central Board of Direct Taxes, Fincial Intelligence Unit, Department of Fincial Services and Reserve Bank of India for further necessary action.

Companies have also been identified for inquiry, inspection and investigation under the Companies Act, 2013 and necessary action is underway, it added. “Separately, action has also been taken to disqualify directors on the board of companies that have failed to file fincial statements or annual returns for a continuous period of three fincial years during 2013-14 to 2015-16,” the statement said. “Around 3.09 lakh directors have been affected by this action. Prelimiry inquiry has shown that over 3,000 disqualified directors are directors in more than 20 companies each, which is beyond the limit prescribed under the law. “With a view to checking the problem of dummy directors, action is underway to seed Director Identification Number with Permanent Account Number and Aadhaar,” it added. (IANS)

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