New Delhi, January 18: The Modi government's attack on black money continues. In a latest move, Government has decided to strike off the names of one lakh twenty thousa more companies from the official records for various non-compliances as part of its fight against black money.
The latest decision came after a review meeting of the action taken with respect to de-registered firms last week. An official release said, Minister of State for Corporate Affairs PP Chaudhary, who chaired the review meeting, has directed officials to expedite action against the companies.
Till the end of last month, over 2.26 lakh companies were deregistered for various non-compliances and being inactive for long. Around 3.09 lakh directors associated with these entities have been disqualified.
More than 1,150 cases had been filed with the National Company Law Tribunal for restoration of deregistered companies. Out of these cases, the Tribunal had given orders for considering restoration of 180 companies, of which 128 companies have already been restored.
The ministry also said there is now a trend of increasing compliance after the striking-off and disqualification exercise. More and more companies are coming forward to file their annual returns and statements.
The minister emphasised that message should be sent out to company secretaries and directors of all companies to ensure that filings are made on time, which would also help prevent unnecessary litigation and prosecution. Chaudhary said the ministry ensures that principles of good corporate governance are followed in letter and spirit and an atmosphere of trust prevails for the investors.
