Govt disqualifies over two lakh directors of shell companies

The Ministry of Corporate Affairs (MCA) on Tuesday disqualified more than two lakh directors within 15 days for not filing their annual returns or financial statement for two consecutive years in violation of the provisions of Companies Act, 2013.

The recent crackdown took the number of disqualified directors to 3,00,000.  

As per ministry official, the government has disqualified 3,19,637 directors while 2,17,239 companies have been deregistered.

A senior MCA official asserted that the current data was collected from only 5 banks and it would surge once they get more data from other 30 banks.

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