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Govt may strike off 2.25 lakh companies for not filing financial statement

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Govt may strike off 2.25 lakh companies for not filing financial statement

The government has identified over 2.25 lakh companies and 7,191 Limited Liability Partnerships (LLPs) which have not filed requisite financial statement for 2015-16 and 2016-17, and they may be struck off during the current financial year, said Ministry of Finance in a statement.

The Ministry of Corporate Affairs (MCA) has already struck off over 2.26 lakh companies for non- filing of financial statements or annual returns for a continuous period of 2 years or more, said the statement.

Also, over 3.09 lakh directors were disqualified for not filing financial statements or annual returns for preceding 3 years (2013-14, 2014-15 and 2015-16).

“For the second drive to be launched during 2018-19), 2,25,910 companies have been further identified for being struck off under section 248 of the Companies Act, 2013…for non-filing of financial statements for 2015-16 and 2016-17,” the statement said.

Also, 7,191 LLPs have been identified for action under section 75 of the LLP Act, 2008 due to non-filing of financial statements for the stated years, it said. These companies and LLPs will be given an opportunity of being heard by way of notices regarding their default and the proposed action. Appropriate action will be taken after considering their response, the statement said.

A task force headed by Finance Secretary Hasmukh Adhia and MCA Secretary Injeti Srinivas was set up in February 2017 to check the menace of shell companies through a coordinated, multi-agency approach. The task force has compiled a database of shell companies and classified them into 3 categories– Confirmed list, Derived list and Suspect list. The Confirmed List has a total of 16,537 confirmed shell companies on the basis of the information received from the various law enforcement agencies of the companies found to be involved in illegal activities.

The ‘derived list’ has 16,739 companies identified on the basis of 100 per cent common directorships with the confirmed shell companies. The ‘suspect list’ has 80,670 suspected shell companies and has been drawn up by SFIO using certain red flag Indicators.

The Task Force has identified certain red flag Indicators, which will be used to identify more shell companies, the statement said.

The Task Force has directed all member law enforcement agencies to send the details of action taken against chartered accountants by them to ICAI, it said. The ex- directors / authorised signatories of the struck-off companies have been restricted from operating the bank accounts of these companies and they cannot withdraw any amount from these bank accounts, other than for specified purposes, till the company is restored u/s 252 of the Companies Act, it said.

The Ministry of Corporate affairs will also be launching a public awareness campaign soon to make the public aware of the need to get the registrations of their defunct companies cancelled themselves, it said.

Bollywood news

Bollywood actor Nushrratt Bharuccha shares video of her interacting with PM Modi in Gujarati

Nushrratt’s ordeal dates back to 2023, when she found herself in the midst of turmoil in Tel Aviv as conflict erupted between Israeli forces and Hamas.

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Bollywood actor Nushrratt Bharuccha shared a video of her interacting with Prime Minister Narendra Modi in Gujarati during an event. She happily took to X, sharing a series of vibrant pictures and videos from the event.

In one touching moment captured in the first photo, Nushrratt warmly shook hands with PM Modi. She expressed her heartfelt gratitude to him for facilitating her safe return from Israel amidst a critical situation, to which the Prime Minister acknowledged, “Bada sankat tha… Accha hua aapne turant message kardiya,” reflecting on the seriousness of the crisis and her prompt communication.

Their interaction took a personal turn when they shared a conversation in Gujarati, filled with smiles and laughter. Nushrratt nodded in appreciation, replying, “Thank you so much, sir. I just wanted to say my deepest…”

Overwhelmed by the experience, Nushrratt shared a video of their interaction with the caption: “Truly honoured and deeply grateful for a once-in-a-lifetime opportunity to meet Hon’ble Prime Minister Narendra Modi! It was an incredible privilege to thank you in person, Modi Ji, for your unwavering leadership and the swift action taken by your government to bring back Indian citizens, including myself, stranded in Israel during the recent conflict.”

Adding a personal touch, she included a note in Gujarati that expressed her sincere gratitude: “Aap no aa mulakat badal khub khub aabhar. Maari mate aa zindagi bhar ni yaadgir reh se,” which translates to, “It was an honour to meet you. I’ll remember this my whole life.”

Nushrratt’s ordeal dates back to 2023, when she found herself in the midst of turmoil in Tel Aviv as conflict erupted between Israeli forces and Hamas. Fortunately, thanks to the diligent efforts of Indian officials, she was rescued safely.

On the cinematic front, Nushrratt’s latest film, Chhorii 2, directed by Vishal Furia, made its debut on Prime Video. This sequel to the 2021 horror sensation brings together a stellar cast, including Soha Ali Khan, Gashmeer Mahajani, Saurabh Goyal, Pallavi Ajay, Kuldeep Sareen, and Hardika Sharma. Exploring themes of folklore, gender inequality, and a mother’s unbreakable bond with her daughter, Chhorii 2 promises to enthrall audiences with its gripping narrative.

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India News

Kapil Sibal credits UPA govt for Tahawwur Rana extradition, praises Congress-NIA groundwork after 26/11

: Kapil Sibal credits the Congress-led UPA government and NIA for early action in the Tahawwur Rana case. The 26/11 accused was extradited from the US after exhausting legal appeals.

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Kapil Sibal on Tahawwur Rana

Rajya Sabha MP Kapil Sibal on Friday credited the Congress-led United Progressive Alliance (UPA) government for laying the groundwork that eventually led to the extradition of 26/11 Mumbai terror attack accused Tahawwur Rana from the United States to India.

Addressing reporters, Sibal highlighted the formation and early action of the National Investigation Agency (NIA), established under the UPA regime in response to the 2008 Mumbai attacks.

Sibal, a former Union minister, emphasized that the NIA was set up by the UPA just a month after the devastating attacks that left 166 people dead. “I remember the NIA was established during UPA times. It registered a case in this incident on November 11, 2009, where the accused were David Headley and Tahawwur Rana,” he stated.

He noted that the NIA had expressed dissatisfaction at the time when US authorities failed to include certain charges against Rana. Despite initial setbacks, Indian agencies pursued the investigation diligently, eventually leading to a breakthrough in the form of Rana’s extradition.

Tahawwur Rana, a 64-year-old Pakistani-Canadian national, was formally arrested on Thursday evening after being extradited from the US. The move follows a protracted legal battle during which Rana sought to block his extradition through multiple appeals, all of which were ultimately rejected.

Upon his arrival, the NIA produced Rana before a special court and was granted 18-day custody for interrogation. The agency is expected to take him to various locations as part of a broader effort to reconstruct the conspiracy behind the 2008 Mumbai attacks.

Sibal also spoke about the critical link between Rana and co-accused David Headley. “Through mutual assistance, the NIA team reached America and examined Headley, who was under custody there. The conspiracy was uncovered as this happened,” he said.

He further added, “Today, the accused is before us, and things will become clearer. We know that only Tahawwur Rana and David Headley were not the conspirators, but more were involved.”

According to investigators, Rana was made aware of the attack plans by Headley prior to his visit to India. Their email exchanges have been cited as vital evidence in the ongoing probe. Officials believe that the conspiracy may extend beyond Mumbai, possibly involving planned attacks in other Indian cities.

While appreciating the current government’s efforts in successfully securing Rana’s extradition, Sibal made it a point to recognize the foundation laid by the previous Congress-led government. “I congratulate the UPA government for their efforts and also our government for their efforts, which have been successful. We have Tahawwur Rana in India today,” he concluded.

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India News

Rahul Gandhi slams PM Modi over Employment Linked Incentive scheme, calls it another jumla

He pressed further, “While you churn out new slogans daily, our youth are still waiting for tangible opportunities. What is your concrete plan to create the crores of jobs India desperately needs, or is this just another jumla?”

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Congress leader and Leader of Opposition in the Lok Sabha, Rahul Gandhi, on Friday, launched a scathing attack on Prime Minister Narendra Modi over the government’s ‘Employment Linked Incentive’ (ELI) scheme. Accusing Modi of crafting catchy slogans while neglecting the youth’s job prospects, Gandhi questioned whether the much-touted initiative was merely “another jumla” (empty promise).

Gandhi pointed out that following the 2024 general election, Modi had unveiled the ELI scheme with great pomp, promising to deliver employment opportunities to India’s youth. “Nearly a year has passed since its announcement, yet the government hasn’t even defined the scheme and has reportedly returned the ₹10,000 crore allocated for it,” he claimed, highlighting what he described as a lack of seriousness about tackling unemployment. The government has not yet responded to these allegations.

Criticizing the Modi administration’s approach, Gandhi argued that genuine job creation cannot rely solely on favoring large corporations, promoting cronies over fair competition, emphasizing assembly over production, or ignoring India’s homegrown skills. “The real path to generating crores of jobs lies in massive investments in MSMEs, fostering fair markets where competition thrives, boosting local production networks, and equipping our youth with the right skills,” he asserted.

Turning his critique directly to the Prime Minister, Gandhi asked, “Prime Minister ji, you launched ELI with grand showmanship—where has this ₹10,000 crore scheme vanished? Have you abandoned our unemployed youth along with your promises?” He pressed further, “While you churn out new slogans daily, our youth are still waiting for tangible opportunities. What is your concrete plan to create the crores of jobs India desperately needs, or is this just another jumla?”

Gandhi also took aim at Modi’s economic priorities, questioning when the Prime Minister would shift his focus from “enriching Adani and his billionaire friends” to ensuring equitable job access for young people from marginalized communities. “The youth deserve more than hollow announcements—they need action,” he emphasized

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