2.1 Lakh Companies bank accounts suspended

New Delhi Sept 6: Government has taken one more step to curb black money.The Finance Ministry yesterday has ordered the banks to freeze the accounts of 2 lakh companies which were removed from the list of Register of Companies (RoC).

Recently the government has deregistered 2.1 lakh companies for
* not filing returns
* not completing other formalities related to compliance.

Sources said that the action was taken after notices were served to 2.97 lakh companies that had failed to respond to show-cause notices.



The Ministry of Finance has released a statement that "said that as many as 2,09,032 companies have been struck from the RoC and that the existing directors and authorized signatories of such companies will now become ex-directors or ex-authorized signatories."

The ministry has also said that " the accounts of these companies will not operate till they are legally restored by the National Company Law Tribunal (NCLT)."

Earlier PM has announced that he has struck down 1 lakh companies with the stroke of a pen for allegedly helping people to deposit black money in the banks.