The Union government on Friday said the post-demonetisation transaction data from 13 banks cast suspicion on 5,800 companies with 13,140 bank accounts.
The Registrar of Companies struck off 2,09,032 companies from its lists earlier this year on the suspicion that they were shell companies.
The data provided to the government showed the transactions of some of these companies.
“It may be recalled that after being struck off, operation of the bank accounts of these 2,09,032 suspicious companies were restricted for discharge of their liabilities only,” the government said in a release here on Friday.
“These 13 banks have submitted their first instalment of data. The data received from them pertains to merely about 5,800 companies (out of more than 2 lakh that were struck off) involving 13,140 accounts.” it added.
Revealing figure
This in itself is a revealing figure, the government said, highlighting the fact that some companies were found to be haing more than a hundred accounts to their names.
The company with the highest number of accounts had 2,134 account associated with it, followed by others having accounts in the range of 900, 300 and so on, the government statement added.
“The data pertaining to the pre-demonetisation account balances and transactions conducted from the accounts of these companies during the demonetisation period are even more startling,” the release said.
Disturbing factors
“It is informed that, after separating the loan accounts, these companies were having a meagre balance of ₹22.05 crore to their credit on November 8, 2016. However, from November 9, 2016, after the announcement of demonetisation, till the date of their being struck off, these companies have altogether deposited a huge amount of ₹4,573.87 crore in their accounts and withdrawn an equally large amount of ₹4,552 crore.” it added.
“Disturbing factors have been identified of companies having multiple accounts with miniscule or negative balance as on November 8, 2016 which have then deposited and withdrawn amounts going in several crores from these accounts,” the official release added.
Dormant accounts
“The accounts were thereafter again left as dormant accounts with paltry balance. As mentioned earlier, this exercise of swindling the authorities was carried out post-demonetisation till the companies were struck off,” the release said.
In some cases, the government said, some companies had even made deposits and withdrawals even after being struck off.
For example, in one of the banks, 429 companies with zero balance each as on November 8, 2016 deposited and withdrew over ₹11 crore and left again with a cumulative balance of just ₹42,000 as at the date of freezing of the accounts.
Miniscule number
“It needs to be re-emphasised that this data is only about 2.5% of the total number of suspected companies that have been struck off by the hovernment,” the statement said.
“The huge money game played by these companies may well be the tip of an iceberg of corruption, black money and black deeds of these and many more of their brethren.”
“The investigative agencies have been asked to complete necessary investigation in a time bound manner,” it added.
“The country and honest citizens may well look forward to a more cleaner tomorrow.”
The huge money game played by these companies may well be the tip of the iceberg of black deeds.
