Black money drive: Suspected shell companies deposited Rs 17,000 crore in banks after demonetisation
Ministry of Corporate affairs struck off 2.24 lakh companies and disqualified 3.09 lakh directors on boards of companies. Some of the companies were suspected to be shell firms while around 3,000 directors were found to be on boards of more than 20 companies. Express Photo by Arul Horizon
Around 2.24 lakh companies have been struck off till date for remaining inactive for two years or more, the Union Ministry of Corporate Affairs said on Sunday in a release. Some of these companies are suspected to be shell companies.
The government struck off the companies on the basis of information provided by 56 banks of about 35,000 companies and 58,000 bank accounts. The preliminary inquiry initiated against these firms revealed that a sum of around Rs 17,000 crore was deposited and withdrawn after demonetisation of Rs 500 and Rs 1,000 notes last year in November.
Credit: indianexpress.com