After shell companies, Centre to scrutinise 10 lakh active firms
In its fight against shell companies, the government recently disqualified over 1 lakh directors.
Mumbai: As the Centre continues to wage its war against money laundering by shell companies, it is now its also going to track "active firms", according to media reports.
The Ministry of Corporate Affairs (MCA) is planning to scan 10 lakh active registered firms to scrutinise their details, including addresses and background of directors, according to a report by CNBC-TV 18.
The report said that firms found guilty of providing wrong information would be tried under the Companies Act. Such companies would also be de-registered.
The MCA is in the final stage of planning the 'census' of these companies and will kick start in the coming weeks as a pilot project.
The MCA has been identified by the Prime Minister's Office (PMO) as a stakeholder in the Centre's fight against black money.
In its fight against shell companies, the government recently disqualified over 1 lakh directors as companies under them failed to submit financial statement for three years. It also cancelled the registration of around 2.10 lakh defaulting companies.