A total number of 931 companies classified as ‘Sea and Coastal Water Transport Companies’ have been registered as on 04.03.2015 under the Companies Act. The State/UT-wise distribution of these companies is placed at Annex

The Government has taken a number of measures to prevent corporate frauds, under the Companies Act, 2013 including:

• Enhanced disclosure norms mandated so that investors get relevant information from the companies;
• Definition of the term “Fraud” (along with its punishment) has been introduced;
• Serious Fraud Investigation Office (SFIO) has been granted statutory status with more powers; and
• Provisions for attachment and disgorgement of assets have been introduced.

No case of fraud by shipping companies has been referred to the SFIO so far.

Annex

 State/UT-wise distribution of companies registered as ‘Sea and Coastal Water Transport Companies’

S. No.	State/UT	No. of Companies*
1	Andaman & Nicobar Islands	17
2	Andhra Pradesh	38
3	Assam	1
4	Bihar	1
5	Chandigarh	2
6	Delhi	87
7	Goa	32
8	Gujarat	43
9	Haryana	2
10	Karnataka	20
11	Kerala	21
12	Madhya Pradesh	5
13	Maharashtra	405
14	Orissa	10
15	Pondicherry	3
16	Punjab	5
17	Rajasthan	11
18	Tamil Nadu	94
19	Telangana	42
20	Uttar Pradesh	2
21	West Bengal	90
Total		931

 * as on 04.03.2015

Source : Extracted from MCA21 repository.

This was stated by Shri Arun Jaitley, Minister of Corporate Affairs in written reply to a question in the Lok Sabha today.

 

Companies Act compliance measures strengthen fraud prevention, empowering enforcement agencies and enabling asset attachment and disgorgement. 931 entities were registered as Sea and Coastal Water Transport Companies as of 04.03.2015 with a State/UT-wise distribution recorded. Corporate law reforms strengthen anti fraud safeguards by imposing enhanced disclosure obligations, introducing a statutory definition of fraud with penal consequences, empowering the specialised investigatory agency with broader powers, and providing for attachment and disgorgement of assets; no shipping company case has been referred to that agency.