Government orders another 1.2 Lakh cos off books

The government said it had decided to strike off the names of 1.2 lakh more companies from official records for various counts of noncompliance. This comes as part of the Centre’s bid to fight black money. Nearly 2.26 lakh companies had been deregistered by the end of December 2017 and around 3.09 lakh directors associated with them disqualified. The companies were held guilty of non-compliance.

The latest decision came after a review meeting last week to discuss action taken with respect to deregistered firms. Junior corporate affairs minister P P Chaudhary has directed officials to expedite action against the identified companies. According to a government release, 1,157 cases had been filed with the National Company Law Tribunal for the restoration of deregistered companies. “...NCLT has given orders for considering restoration of 180 companies, of which 128 have already been restored,” it said.

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