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Government Identified 238223 Companies as Shell Companies between 2018-2021

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There is no definition of the term “Shell Company” in the Companies Act and it normally refers to a company without active business operation or significant assets, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties etc. This was stated by Union Minister of State for Corporate Affairs Shri Rao Inderjit Singh in a written reply to a question in Rajya Sabha today.

The Minister further stated that the Special Task Force set up by the Government to look into the issue of “Shell Companies” has inter-alia recommended the use of certain red flag indicators as alerts for identification of Shell Companies.

The Government has undertaken a Special Drive for identification and striking off Shell Companies during the last three years, the Minister stated.

The Minister tabled a list of the total number of companies struck off u/s 248 State/ Union Territory-wise as under:

 

Name of the State/ UTNo. of Struck off Companies
2018 to June 2021
RoC-Ahmedabad9243
RoC-Andaman41
RoC-Bangalore11185
RoC-Chandigarh4908
RoC-Chennai11217
RoC-Chhattisgarh947
RoC-Coimbatore2992
RoC-Cuttack3731
RoC-Delhi45595
RoC-Ernakulam9189
RoC-Goa597
RoC-Gwalior4920
RoC-HimachalPradesh858
RoC-Hyderabad20488
RoC-Jaipur9222
RoC-Jammu393
RoC-Jharkhand1848
RoC-Kanpur15803
RoC-Kolkata15022
RoC-Mumbai52869
RoC-Patna4683
RoC-Pondicherry191
RoC-Pune5552
RoC-Shillong1256
RoC-Uttarakhand555
RoC-Vijayawada4918
Total238223

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