Monday, 3 July 2017

Demonetisation data revealed 38,000 shell companies, says Prime Minister Narendra Modi news

The government has cancelled the registration of one lakh companies that had suspicious and questionable operations, identified on the basis of data mined from the deposit of bank notes following last November’s demonetisation, Prime Minister Narendra Modi said on Saturday.More such action will follow soon on two lakh similar companies and another 38,000 shell companies, Mr. Modi said, adding that the action was undertaken “48 hours before”, even as industry was focussed on the impact of the July 1 roll out of the Goods and Services Tax (GST).