FM Nirmala Sitharaman: The govt removed the names of 4,32,796 companies from the registered list

Finance Minister Nirmala Sitharaman, in a written reply to a question, has told in the Rajya Sabha that under Section 248 of the Companies Act, special drives have been started to identify dormant companies and remove their names from the Registrar of Companies list.

New Delhi: The Central Government has removed the names of many companies from the registered list. The Finance Minister himself has given this information today. The Finance Minister said that under the particular drive launched to identify dormant firms, the names of 4,32,796 companies had been removed from the registered list till the year 2021-22.


Finance Minister gave big information

Finance Minister Nirmala Sitharaman, in a written reply to a question, has told in the Rajya Sabha that under Section 248 of the Companies Act, special campaigns have been started to identify dormant companies and remove their names from the Registrar of Companies list. Under these special campaigns, the government has removed the names of 4,32,796 companies from the list until 2021-22. He said that during 2021-22 alone, the names of 49,921 dormant companies have been removed from the list.


In response to another question, the Finance Minister has said that no definition of a shell company has been given in the Companies Act, 2013. 'Shell' company means a company not carrying on active business operations and not having significant assets. These assets are used in some cases for illegal purposes such as tax evasion, money laundering, maintaining the ambiguity of ownership, holding Benami assets, etc. In such a situation, the government is running a campaign against these companies.


Order for investigation on these companies

The Finance Minister said that the ministry has also disqualified 5,68,755 directors under section 164(2) of the Companies Act. Further, based on information received from various banks, the government had ordered a probe into the actual ownership of 68 companies that had deposited more than 25 crores in bank accounts and withdrawn funds after the announcement of demonetisation. . In such a situation, orders have now been given to investigate these companies as well.