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    All› PMLA, Black Money & ED › PMLA, Black Money & ED - 2021
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    August 3, 2021
    12,889 shell companies struck off in FY 2020-21
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    Strike-off of inactive companies under section 248 guided by red flag identification and a special drive leading to removals.
    Strike-off of companies for prolonged non operation has been effected by the Registrar of Companies by invoking Section 248(1) where the RoC believes a company has not carried on business for the two immediately preceding financial years and has not applied for dormant status under Section 455; a Special Drive applied this mechanism and the Ministry reported 12,889 companies struck off in 2020-21.

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