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Government planning to crackdown on 1 lakh more shell companies, says report

Updated : September 10, 2018 09:44 AM IST

The first phase identified 300,000 companies which were struck off, bank accounts frozen and transactions being scrutinized by the ministry, the report said.
Many of these untraceable companies did not list themselves after listing for an initial public offering (IPO), did not maintain registers at the address of the office and did not file returns for two years, according to the Registrar of Companies (RoC) or the bourses, the report added.  
Government planning to crackdown on 1 lakh more shell companies, says report

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