After crackdown on shell firms, 'scrutiny' of all active cos likely

New Delhi: After asking states to identity immovable properties of 2.1 lakh shell companies, the government is mulling to launch a drive to scrutinise the details of all active companies. As per sources, the Ministry of

Corporate Affairs (MCA) would examine the details of about 11 lakh active companies, which are operational in the country.

According to sources, the government has come to the conclusion to examine the details of immobile properties of all active companies to find out 'anonymous' shell companies. As per sources, the government believes that there are some active companies that have 'parked' their black money in shell companies and scrutiny would help in the recovery of black money.

"The move is also aimed at collecting up-to-date details of movable as well moveable properties of active companies to bring more transparency," the source said.

"It's so that the ministry has directed Registrar of Companies as well as local administration not to allow transfer or any transaction linked to properties owned by the directors or authorised signatories on behalf of shell companies," the source said.

Earlier, the Centre had urged states to identify and track properties belonging to nearly 2.1 lakh companies which have been struck off by the government. Minister of State for Law, Justice and Corporate Affairs PP Chaudhary told state government representatives that the process of identification of such properties needs to be completed at the earliest and information be shared with the corporate affairs ministry in a time-bound manner.

The minister had expressed confidence that since land records had been computerised across the country, it would not take much time for the states to provide details to the district authorities as well as to the Centre.

Chaudhary had emphasised that tackling the menace of shell companies is an important initiative of the government's fight against black money.