New Delhi: Revenue Secretary Hasmukh Adia on Saturday claimed that 8-9 lakh registered companies were not filing annual returns. The Ministry of Corporate Affairs (MCA) was looking into the case and were suspecting potential sources of money laundering.
The Revenue Secretary was speaking during the Enforcement Directorate Day event and said,"A task force has been set up and the PMO is monitoring these companies every 15 days."
"There are 15 lakh registered companies... as many as 8-9 lakh are not filing annual returns with the corporate affairs ministry. They have become a potential threat for money laundering," he said, reported PTI.
He said further that if companies do not file returns after getting registered with the MCA, then these are used as potential source of money laundering.
"We have given notices to some of them," he said, adding that the task force co chaired by him and the MCA Secretary is keeping a close watch on them.
According to Adhia, trade based money laundering is also getting prominent these days as was witnessed in the Rs 6,000-crore Bank of Baroda case.
In a major crackdown on domestic shell companies, the government in February had decided to take "harsh punitive" action, including freezing of their bank accounts used to launder money or evade taxes.
(With PTI Inputs)