Companies Being Deregistered After Failing To File Annual Returns
The government is trying all its way to curb the black money the country and for that it has taken some serious steps in the past. After the news of demonetization was out, people were shocked and in a helpless state but somehow managed to come past that phase. But the businessman knew that something more was come for them. They understood that the government would take more serious steps to make all the transactions transparent and white. It has passed many reforms, like the RERA which makes the disclosure of all the property compulsory before any sale, purchase or even advertisement for the same can be done. This February came as another shock for the companies when MCA released the list of the companies who had not been filing the annual returns with them and them government unregistered about 1 lakh companies. It’s shocking to know that about 9 lakhs registered companies have not been filing annual returns with the Ministry if Corporate Affairs (MCA). This undisclosed am...