Till the end of December 2017, over 2.26 lakh companies were deregistered for various non-compliances and being inactive for long. Nearly 2.26 lakh companies have already been deregistered and around 3.09 lakh directors associated with these entities have been disqualified. The latest decision to strike off more 1.20 lakh companies from official records came after a review meeting of the actions taken with respect to deregistered firms last week. Till the end of December 2017, over 2.26 lakh companies were deregistered for various non-compliances and being inactive for long. “Similarly, it is important to ensure that unscrupulous elements do not misuse the corporate governance channels to defraud innocent investors.

Source: Mint January 16, 2018 13:18 UTC