30,000 'weeded out' in crackdown on shell companies can again be directors

The government has been asking banks for details of transactions of many of these

As many as 13,993 companies are now eligible for restoring their names at the registrar of companies (RoCs). And, 30,000 persons are again qualified for being directors of companies, after their names were struck off as part of an official exercise to weed out ‘shell companies’. 

In the first phase of this weeding, about 225,000 companies and 300,000 directors faced the axe. Of these, 13,993 companies and 30,000 directors had availed of a scheme for condonation of delay in this regard, opened for five months by the ministry of corporate affairs, officials said. This was meant to help genuine corporates to