No instances of transfer of money abroad by companies on account of any lacunae in the provisions of the Companies Act 1956/ 2013 has so far been brought to the notice of Ministry of Corporate Affairs by stakeholders or the relevant Agencies of the Government.

This information was given by MoS in the Ministry of Corporate Affairs , Smt.Nirmala Sitharaman in a written reply in Lok Sabha today.

Company law lacunae not found to cause overseas fund transfers, ministry reports in parliamentary reply No evidence has been reported that gaps in company law provisions have led to companies transferring money abroad; the Ministry of Corporate Affairs has received no notices from stakeholders or government agencies identifying instances attributable to lacunae in the Companies Act, as stated in a written parliamentary reply.