- 15 injured as makeshift tent collapses during Modi's Midnapore rally, PM visits hospital.
- Our government working to double farmer income by 2022: PM Modi
- Journalist Upendra Rai arrested by CBI in fresh case of alleged corruption: Officials
- Kerala church scandal: SC to hear tomorrow anticipatory bail plea of priest
1.78L cos deregistered amid action against shell firms, says Jaitley
Speedy steps are being taken against shell companies and as many as 1.78 lakh firms that have not been carrying out business activities for long have been deregistered, Corporate Affairs Minister Arun Jaitley said on Friday. He also emphasised that balance needs to be maintained between the ease of doing business and ensuring that the firms are not misused.
Jaitley, who also holds the Finance and Defence portfolios, told the Lok Sabha that there is no definition for shell companies under the Companies Act but such entities are used for round tripping of money. The real owners behind such entities need to be identified and expeditious steps are being taken under the benami and Income Tax laws, he said during the Question Hour. As many as 1.78 lakh companies have been deregistered in recent times, he added.
In a written reply to the Lok Sabha, Minister of State for Corporate Affairs Arjun Ram Meghwal said the Registrars of Companies (RoCs) have removed 1,62,618 companies from the register of the companies as of July 12, 2017.
Replying to supplementaries, Jaitley mentioned about markets regulator Sebi’s action against suspected shell companies on the stock exchanges, saying ‘baazaar mein thoda uthal puthal hua (there was some turmoil in the markets)’.
- Business Corner 17 Jul 2018 | Agencies
- India’s inflation mounts to 54-month high 17 Jul 2018 | IANS
- India earns Rs 18K cr per year from export of basmati rice 17 Jul 2018 | PTI
- Britannia rolls out Rs 170-cr unit in Assam; to hire 1,000 persons 17 Jul 2018 | PTI
- Infosys shares end nearly 2 pc up after Q1 earnings 17 Jul 2018 | PTI
- Data belongs to individual users, says TRAI urging strong safeguards against misuse 17 Jul 2018 | IANS
- JLR launches F-TYPE sports car 17 Jul 2018 | PTI
- Rupee slips six paise against US dollar 17 Jul 2018 | PTI
- India Inc’s Jan-Jun deal tally at $74.8 bn on big-ticket deals 17 Jul 2018 | PTI
- LIC gets board’s nod to buy majority stake in IDBI Bank 17 Jul 2018 | PTI
Sunday EditionView All
15 Jul 2018 | PTI | New Delhi
Amid row over alleged use of derogatory language in a web series while referring to former Prime Minister Rajiv Gandhi, Congress chief Rahul Gandhi on Saturday said the BJP and the RSS believe that freedom of expression must be policed, while he regards it as a fundamental democratic right. “My father lived and died in the service of India...
STATE EDITIONSView All
17 Jul 2018 | Staff Reporter | Bhopal
Phir Khule Akaash me Judde Ghataon Ke, Phir Hawaon Ke Dupatte Ho Gaye Jheene, a poetic event centered on creations about monsoon ‘Pranaam Pawas’ concluded in city. The event was organised by the Dushyant Kumar Memorial Manuscript Museum to welcome the monsoon season...