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Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh 'struck off' companies

Department of Financial Services advises all Banks to take immediate steps to put restrictions on bank accounts of over two lakh struck off companies - News and Press Release - Dated:- 6-9-2017 - Press Information Bureau Government of India Ministry .....

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Section 248 (5) of the Act. The existing Directors and Authorized Signatories of such struck off companies will now become ex Directors or ex Authorized Signatories. These individuals will therefore not be able to operate bank accounts of such compa .....

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o Active . Since such Struck off companies have ceased to exist, action has been initiated to restrict the operation of Bank accounts of such companies. The Department of Financial Services has, through the Indian Banks Association, advised all Banks .....

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