Black money drive: Suspected shell companies deposited Rs 17,000 crore in banks after demonetisation

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.

By: Express Web Desk | New Delhi | Published:November 5, 2017 3:36 pm

Ministry of Corporate affairs struck off 2.24 lakh companies and disqualified 3.09 lakh directors on boards of companies. Some of the companies were suspected to be shell firms while around 3,000 directors were found to be on boards of more than 20 companies. Express Photo by Arul Horizon

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.