Post demonetization-one company found with 2134 bank accounts another deposited-withdrew Rs 2484 crores. Over Rs 17000 crore deposited-withdrawn.
Recently the Ministry of Corporate Affairs had striked off more than 2 lakhs of companies for remaining inactive for a period of two (2) years or more.
Now, MCA vide a press release issued today has informed that following the action of striking-off defaulting companies, restrictions have been imposed on operation of their bank accounts in accordance with the law. Further, Preliminary Enquiry on the basis of information received from 56 banks in respect of 35,000 companies involving 58,000 accounts has revealed that an amount of over Rs. 17,000 crore was deposited and withdrawn post demonetization. In one case, a company which had a negative Opening Balance on 8th November, 2016, deposited and withdrew Rs.2,484 crore post-demonetization.
Apart from the restrictions on bank accounts, action has also been taken to restrict sale and transfer of moveable and immoveable properties of struck-off companies until they are restored. The State Governments have been advised to take necessary action in this regard by disallowing registration of such transactions.
Interestingly as per the press release, one company was found to have as many as 2,134 bank accounts. As per MCA, the information with respect to such companies have been shared with enforcement authorities, including Central Board of Direct Taxes (CBDT), Financial Intelligence Unit (FIU), Department of Financial Services (DFS) and Reserve Bank of India (RBI) etc., for further necessary action. Companies have also been identified for inquiry/inspection/investigation under the Companies Act, 2013 and necessary action is underway.
NHIDCL is hiring CA/CMA and others as Young Professionals – Last date to apply is 14.04.2026 The National Highways and…
Income Tax Rules 2026 notified by CBDT. CBDT has issued Notification No. 22/2026 dated 20.03.2026 to notify the Income-tax Rules,…
Absence of an explicit irrevocability clause in trust deed no ground for rejecting application for registration or renewal under section…
ITAT allowed increased exemption of Rs. 25 lakhs u/s 10(10A) to non-government employees in view of CBDT retrospective notification. In…
PCIT has revisionary jurisdiction u/s 263 over the cases irrespective of the fact that the relevant assessment was completed physical…
Appellate court interfering with Motor Accidents Claims Tribunal findings on assessment of disability and loss of earning capacity must undertake…