Another 2.97 lakh companies, including 92 from Nagaland, did not file Financial Statements or Annual Returns for a continuous period of two or more financial years
Dimapur, August 11 (MExN): The Union Minister of State for Law & Justice and Corporate Affairs P.P. Chaudhary said in Lok Sabha on Tuesday that during financial year 2018-19, a total of 2,25,910 companies have been identified for action under Section 248 of the Act on the basis of non- filing of due returns for the financial Year 2015-16 & 2016-17.
“Due procedure shall be followed by ROCs before striking off names of companies,” he told the Lower House. As per a PIB release, Chaudhary informed the house that during 2017-18 the Registrars of Companies (ROCs) had identified 2.97 lakh companies which were not filing their Financial Statements or Annual Returns for a continuous period of two or more financial years.
“Prima facie, either were not conducting any business or were not in operation,” it said.
Out of such identified companies, Registrars of Companies (ROCs) removed the names of 2,26,166 such companies from the register of companies by following the due process under Section 248 of the Companies Act, 2013, it added.
In the details of the number of companies which had not filed their Financial Statement during the last one year, 92 from Nagaland were included.
However, 93 companies from the state had filed Financial Statement and Annual Return respectively.
Further, the release said, “the MoS informed that the Central Government has ordered investigation into the true ownership of 68 number of companies under section 216 read with section 210(1) (c) of the Act, which have deposited and withdrawn fund in an exception manner from the bank accounts during demonetization period.”
