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55,000 shell firms struck off in second phase: Govt
short by Krishna Veera Vanamali / on Friday, 21 September, 2018
The government on Friday said it has struck off around 55,000 shell companies in the second phase of its efforts to curb illicit fund flows. The Corporate Affairs Ministry had deregistered over 2.26 lakh firms last year for failing to comply with regulatory requirements. The ministry in June said it had served notices to 2.25 lakh suspected shell companies.
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