Business Govt to take on bogus firms; three lakh companies to be scrutinised Updated : June 25, 2019 05:06 PM IST The Ministry of Corporate Affairs introduced the mandatory KYC norms to track down shell companies. Seven lakh out of 11.35 lakh firms have complied with KYC norms so far. Subscribe to Moneycontrol PRO at just Rs.33/- per month for the first year. Use code SUPERPRO. Limited period offer. Available on Web and Android.