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 Over Rs 17000 crore deposited-withdrawn.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of 35,000 companies involving 58,000 accounts has revealed that an amount of over Rs. 17,000 crore was deposited and withdrawn post demonetization.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.
Form 26 to replace Form 3CD of tax audit report from Tax Year 2026-27 Draft Form 26 has been issued…
When AO do not make any addition on the basis of the reasons on which the reopening was done, the…
Under MV Act separate compensation can not be granted under the head “loss of love and affection” – Supreme Court…
Trust accredited by National Institute of Open Schooling eligible for registration u/s.12AB and u/s 80G of the Act. In a…
Delay in furnishing Form 10B – Period between 15.03.2020 till 20.08.2022 to be excluded as per decision of Hon'ble Supreme…
Section 271AAB does not grant any immunity from penalty even if the assessee was able to show some reasonable cause…