Over 100,000 companies deregistered this fiscal yr
New Delhi, Dec 28 (PTI) Names of more than 1 lakh (100,000) companies have been struck off the official records in the current fiscal for not carrying business activities for a long time, the government said Friday.
As part of clamping down on illicit fund flows, the Corporate Affairs Ministry has been taking action against entities that are suspected to be shell companies.
Under the Companies Act, 2013, a company can be deregistered if it has not been carrying out any business for two continuous years and has also not applied for obtaining dormant status.
- Read more about Over 100,000 companies deregistered this fiscal yr
- Log in or register to post comments