884 firms under Govt lens over money laundering

FPJ BureauUpdated: Thursday, May 30, 2019, 12:23 AM IST
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New Delhi  : As many as 884 companies are under the scanner in various money laundering cases, and assets worth over Rs 5,000 crore have been attached following probes initiated under the Prevention of Money Laundering Act (PMLA), Union Minister P P Chaudhary said on Tuesday.

 However, he said that not a single company has been deregistered on charges of money laundering. As per inputs supplied by the Finance Ministry, “884 companies are under investigation in various money laundering cases,” the Minister of State for Corporate Affairs said in a written reply to the upper house of Parliament, the Rajya Sabha. He further noted that probes against these companies resulted in the attachment of assets worth Rs 5,066.3 crore, and the filing of 58 prosecution cases under the PMLA. Furthermore, over 2.26 lakh companies have been struck-off the records for remaining inactive for a period of two years or more as on December 2017.

Also, over three lakh people have been disqualified for holding the post of a director at registered companies for failing to comply with regulatory requirements. Of these directors, over two lakh disqualified directors were on the Boards of the deregistered firms, PTI reported.

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