Act against accounts of over 2 lakh deregistered companies, govt tells banks

The action was taken against these companies for failing to comply with regulatory requirements.

The government has said it has struck off the names of over 2.09 lakh firms from register of companies.
 
The action was taken against these companies for failing to comply with regulatory requirements.
 
"The names of 2,09,032 companies have been struck off from the register of companies under Section 248 (5) of the Act. The existing directors and authorised signatories of such struck-off companies will now become ex-directors or ex- authorised signatories," an official release said.
 
"These individuals will therefore not be able to operate bank accounts of such companies till such companies are legally restored under Section 252 of the Companies Act by an order of the National Company Law Tribunal," the note added.
 
The government said it has begun process to restrict operations of the bank accounts of these deregistered banks.
 
The Department of Financial Services has, through the Indian Banks Association, advised all Banks that they should take immediate steps to put restrictions on bank accounts of such struck off companies. 
 
A list of such companies, Registrar of Companies wise, has also been published on the website of the Ministry of Corporate Affairs. 
 
Source: Media reports

Event date: 
Wednesday, September 6, 2017

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