Intensifying its crackdown on black money , the government has collated information about 5,800 shell companies whose near zero-balance accounts saw nearly Rs 4,574 crore of deposits post note ban and Rs 4,552 crore withdrawal thereafter. "Few of the companies have been found to have more than 100 accounts to their names. The accounts were thereafter again left as dormant with paltry balance. "This exercise of swindling the authorities was carried out post demonetisation till the companies were struck off. "It needs to be re-emphasised that this data is only about 2.5 per cent of the total number of suspected companies that have been struck off by the government.

Source: Economic Times October 06, 2017 06:56 UTC