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Economy

Crackdown on shell companies: MCA unlikely to extend June 15 deadline for filing ACTIVE form

Updated : June 10, 2019 05:16 PM IST

The MCA had introduced the mandatory KYC norms to help it track down bogus or shell companies as well as to ensure timely compliance by firms through the ACTIVE or INC 22 form.
ACTIVE, which stands for Active Company Tagging Identities and Verification and is known as INC 22, has serious non-compliance implications.
So far, close to 50 percent of the 11.35 lakh active companies have complied with the new norms.
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