Government struck off 3,82,581 shell companies during last three years

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..... Government struck off 3,82,581 shell companies during last three years
News and Press Release
Dated:- 21-9-2020

The Government has undertaken a Special Drive for identification and strik .....

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..... e off Shell Companies. Based on non-filing of Financial Statements (FS) consecutively for two years or more, companies were identified and after following due process of law as provided under Section .....

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..... 248 of the Companies Act, 2013 read with the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, there are 3,82,581 number of Companies were struck off during the las .....

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..... t three years. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha. The term "Shell Company" is not de .....

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..... fined under the Companies Act. It normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laun .....

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..... dering, obscuring ownership, benami properties etc. The Special Task Force set up by the Government to look into the issue of "Shell Companies" has inter-alia recommended the use of certain red flag i .....

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..... ndicators as alerts for identification of Shell Companies.
News - Press release - PIB .....

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