Govt. lens on 5,800 firms with 13,140 accounts post noteban

New Delhi Oct 7: The Government has intensified its crackdown on Black money post demonitization announced by Prime Minister on Nov 8, 2016.Recently the govt has struck of 2 lakh shell companies. recently some details have been submitted by the banks.

#13 banks have submitted transaction data which cast suspicion on 5,800 companies with 13,140 bank accounts.The data revealed that many companies had more than a hundred accounts and they used the
accounts to convert black money into white.

# The maximum accounts a company had with the highest number of accounts is 2,134 account associated with it, followed by others having accounts in the range of 900, 300 and so on.

# The companies have a meager balance of Rs 22.05 crore in their accounts prior to demonetization.

# These companies have deposited a huge amount of Rs 4,573.87 crore post demonetization and equally withdrawn large amount of Rs 4,552 crore.

Some cases, the government said, some companies had even made deposits and withdrawals even after being struck off.

The government officials have said that these dormant shell companies were used for money laundering and more data would be available in coming days and it is the tip of the iceberg.