Thursday, December 3, 2020
Home Economy and Finance More than 1 lakh companies removed from the Registrar of Companies for not doing...

More than 1 lakh companies removed from the Registrar of Companies for not doing any business for two years

The government said that the term 'shell company' is not defined in Companies Act.

Over 1 lakh companies have been deregistered by the government of India for not carrying on any business activity for a long time, the central government informed on Friday. During the Question Hour in Lok Sabha, a question was asked whether a large number of shell companies and entities being used as channels for black money and hawala transactions has come to the notice of the government.

Replying to the question, the Minister of State for Corporate Affairs P P Chaudhary informed the house that the term ‘shell company’ is not defined in the Companies Act, 2013. In a written reply submitted to the house, he said that if any company do that carry any business in the preceding two years, and do not submit an application to keep the registration of the company in dormant status, the names of such companies are deleted from the registrar of companies.

As on 31 December 2017, 2.26 lakh companies were removed from the Register of Companies, the house was informed by the Minister. “During the financial year 2018-19, a total of 2,25,910 companies have been identified for action under Section 248 of the Act and after following due process of law, names of 1,00,150 companies have been struck off from the Register of Companies.” he said. Section 248 of the Companies Act, 2013 provides for the deregistration of a company if the company has not been carrying out any business for two immediately preceding financial years.

He informed that it is a continuous process undertaken by the ministry of corporate affairs. During the financial year 2017-18, the Central Government has ordered investigations into the true ownership of 68 number of companies under Section 216 read with Section 210(1) (c) of the Act, the reply stated.

Answering another question on data about NPA recovered from cases disposed of in the National Company Law Tribunal (NCLT), the Minister said that no data related to NPA is maintained in NCLT. But he added that “as per the information given by Insolvency and Bankruptcy Board of India (IBBI), orders of resolution against 65 corporate debtors have been issued by NCLT as on 31.10.2018 with a realisable amount of Rs. 60,636 crores by the creditors.

Out of a total of 40,712 cases registered with the NCLT, 26,290 have been disposed of by the Tribunal till Nov 30, 2018, the minister informed.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

Darshan Pal, the coordinator of the farmer protests, was a founding member of Maoist organisation PDFI. Read details

Darshan Pal, who demanded special parliament session to repeal farm laws, was convenor of 51-member executive committee of Maoist group PDFI

Even pandering doesn’t get India Today a free pass: Here is why ‘liberals’ are today cancelling Rajdeep and Rahul Kanwal

'Liberals' are cancelling India Today, Rajdeep Sardesai and Rahul Kanwal over their coverage of the allegations against Shehla Rashid

Raut gives bizarre analogy trying to defend party after Azan row: Here are 4 things that he could have meant

Sanjay Raut came up with an absurd analogy in Shiv Sena mouthpiece Saamana to ward off criticism over azaan recitation competition

The return of ‘Award Wapsi’: As farmers protest continue, former Punjab sportspersons want to return awards

Punjab sportspersons have claimed that they will go to Delhi on 5th December and put their awards outside Rashtrapati Bhavan

Indonesian radical Muslims change words of Azan from ‘hurry to the prayer’ to ‘rise up for Jihad’: Here is what happened

A verse of the chant, which originally means “hurry to the prayer”, has been changed to “hayya alal jihad”, or “rise up for jihad” in Azan

Kangana Ranaut served legal notice for mistaking an elderly woman in farmer protests for Bilkis Bano of Shaheen Bagh

Kangana Ranaut had commented on Twitter that the Shaheen Bagh Dadi was available on hire for appearing in protests. She had deleted her tweet later.

Recently Popular

Ex-Indian cricketer Yuvraj Singh’s father Yograj Singh joins Farmer’s protests, justifies “Indira thok di” comment

Multiple videos of Yograj Singh, Yuvraj Singh's father, have gone viral on social media where he has been giving provocative speeches amid the ongoing farmer protests

Indian man proposes to his Australian girlfriend during Ind vs Aus cricket match, here is what happened next

While India's performance has been below par, netizens found happiness in the unusual proposal that became the highlight of the match.

Even pandering doesn’t get India Today a free pass: Here is why ‘liberals’ are today cancelling Rajdeep and Rahul Kanwal

'Liberals' are cancelling India Today, Rajdeep Sardesai and Rahul Kanwal over their coverage of the allegations against Shehla Rashid

Webchutney: A marketing company with a ‘liberal’ CEO that seems to be dragging Swiggy through the mud

Food delivery app Swiggy recently stoked controversy by responding to a troll account taking an extreme political side

No politicians, farmers only: Centre bars Yogendra Yadav from being a part of farmers’ delegation for the discussions

Yogendra Yadav, a political activist and self-proclaimed psephologist, had wanted to be a part of the discussion but the government objected to his presence.

After US elections, Facebook and Twitter are getting ready to interfere with Indian elections: Why the centre must take note before 2024

With Twitter's admitted Left-wing bias, nobody needs to wonder which side they would choose to censor and the trajectory is rather evident with the censorship of Malviya's tweet.

Darshan Pal, the coordinator of the farmer protests, was a founding member of Maoist organisation PDFI. Read details

Darshan Pal, who demanded special parliament session to repeal farm laws, was convenor of 51-member executive committee of Maoist group PDFI

Govt of India orders Wikipedia to remove an image showing wrong map of Jammu and Kashmir

This matter was flagged by a Twitter user asking government to take action against Wikipedia for displaying a wrong map of India

‘Jinnah did everything that is banned in Islam’: Images of alcoholic drink ‘Ginnah’ named after Pakistan founder Muhammad Ali Jinnah go viral

A photo of a gin bottle 'Ginnah', eponymously named after Pakistan's founder Muhammad Ali Jinnah, has gone viral on social media websites

Even pandering doesn’t get India Today a free pass: Here is why ‘liberals’ are today cancelling Rajdeep and Rahul Kanwal

'Liberals' are cancelling India Today, Rajdeep Sardesai and Rahul Kanwal over their coverage of the allegations against Shehla Rashid

Pro-AAP blogger Dhruv Rathee wants foreign interference in country’s internal matters to offer Indians a solution

Dhruv Rathee claimed that India’s institutions have already been hijacked and have become puppets at the hands of Modi government

Captain Amarinder Singh hits out at Arvind Kejriwal, Kejriwal hits back but ends up making no sense: Read what happened

Arvind Kejriwal accused Amarinder SIngh of playing 'low level politics', after Singh slammed him for notiyig a farm law they are opposing

Yogi Adityanath responds to Shiv Sena’s Sanjay Raut, busts claim about UP wanting to take film city away from Maharashtra

CM Yogi had announced that country's biggest Film City would be established at Gautam Buddh Nagar in Uttar Pradesh.

Raut gives bizarre analogy trying to defend party after Azan row: Here are 4 things that he could have meant

Sanjay Raut came up with an absurd analogy in Shiv Sena mouthpiece Saamana to ward off criticism over azaan recitation competition

Zombie Mink: Hundreds of mink carcasses emerge from the burial trenches in Denmark after mass-culling exercise

Dubbed as Zombie mink, the farm mink that were culled to prevent Covid-19 outbreak have 'emerged from their graves' in Denmark.

The return of ‘Award Wapsi’: As farmers protest continue, former Punjab sportspersons want to return awards

Punjab sportspersons have claimed that they will go to Delhi on 5th December and put their awards outside Rashtrapati Bhavan

Connect with us

245,563FansLike
492,287FollowersFollow
20,300SubscribersSubscribe