TaxTMI 
TaxTMI 
Government struck off 3,82,581 shell companies during last three years
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....overnment struck off 3,82,581 shell companies during last three years <br>News and Press Release<br>Dated:- 21-9-2020<br><BR>The Government has undertaken a Special Drive for identification and strike....
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.... off Shell Companies. Based on non-filing of Financial Statements (FS) consecutively for two years or more, companies were identified and after following due process of law as provided under Section 2....
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....48 of the Companies Act, 2013 read with the Companies (Removal of Names of Companies from the Register of Companies) Rules, 2016, there are 3,82,581 number of Companies were struck off during the last....
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.... three years. This was stated by Shri Anurag Singh Thakur, Union Minister of State for Finance & Corporate Affairs in a written reply to a question in Rajya Sabha. The term "Shell Company" is not def....
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....ined under the Companies Act. 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 laund....
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....ering, obscuring ownership, benami properties etc. 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 in....
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....dicators as alerts for identification of Shell Companies.<BR> News - Press release - PIB....