Published On : Sun, Nov 5th, 2017

Shell companies deposited Rs 17,000 cr after demonetisation

New Delhi: Around 2.24 lakh companies have been struck off till date for remaining inactive for two years or more, the Union Ministry of Corporate Affairs said on Sunday in a release. Some of these companies are suspected to be shell companies.

The government struck off the companies on the basis of information provided by 56 banks of about 35,000 companies and 58,000 bank accounts.

The preliminary inquiry initiated against these firms revealed that a sum of around Rs 17,000 crore was deposited and withdrawn after demonetisation of Rs 500 and Rs 1,000 notes last year in November.

The release said, one company was found to have 2,134 accounts and one firm, which had a negative opening balance, deposited and withdrew Rs 2,484 crore post demonetisation.