MCA Strikes Off 12,889 Shell Companies in FY 2020-21


The Minister of Corporate Affairs (MCA) has informed that 12,889 shell companies have been identified and struck off in FY 2020-21.

Giving more details, the Minister stated that the Government has undertaken a special drive for identification and strike off of Companies which are without active business operation or significant assets for a period of two immediately preceding financial years and has not made any application within such period, which in some cases are used for illegal purpose such as tax evasion, money laundering, obscuring ownership, benami properties etc.

As per the data provided by the Ministry, during FY 2018-19, total 15,6928 whereas in FY 2019-20 total 64768 shell companies had been identified and struck off.

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