Transactions after note ban: Govt wants to know 'true owners' of 68 firms

Registrar of Companies (ROCs) has identified 297,000 companies during 2017-18 which were not conducting any operations for 2 years

The government has ordered a probe into the 'true ownership' of as many as 68 companies for depositing and withdrawing large sums during demonetisation, Union Minister P P Chaudhary said on Friday.

Besides, over 226,000 firms have been de-registered for not filing the requisite returns under the Companies Act for two or more years. While over three lakh directors have also been barred from taking up board positions.

Registrar of Companies (ROCs) has identified 297,000 companies during 2017-18 which were not conducting any operations for two years.

"The central government has ordered an investigation into the true ownership of 68 companies ....which have deposited and withdrawn fund in an exceptional manner from the bank accounts during the demonetisation period," Chaudhary, who is the minister of state for corporate affairs, said in a written reply to the Lok Sabha.
 

The ministry through its ROCs keeps records of financial statements and annual returns besides other documents of the companies including unlisted companies in MCA 21 portal.

"These documents filed by the companies are kept in public domain for information to all stakeholders, including the general public. If any specific complaint received against any company, then only, the matter is being examined by the ministry through its field offices by ordering investigations as may be necessary in that particular case," the minister noted.