<h1>87 Vanishing Companies Face Legal Action for Fraud Under Companies Act; Prosecution Initiated for Non-compliance and Fraudulent Activities.</h1> There are currently 87 companies classified as vanishing companies, according to the Minister of Corporate Affairs. FIRs have been filed against these companies and their directors under the Indian Penal Code, and prosecutions are underway for non-filing of statutory returns and fraudulent activities under the Companies Act, 1956. Measures to curb such incidents include mandatory Director Identification Numbers, personal verification of company premises, and scrutiny of financial records by the Registrars of Companies. These steps aim to enhance traceability and ensure compliance with legal requirements.