 "How MCA and Sebi are cleaning the corporate universe")
Two major regulators of the corporate sector -- the Union ministry of corporate affairs (MCA) and the Securities and Exchange Board of India (Sebi) -- have embarked on an ambitious process of cleaning their respective jurisdictions.
While the various registrars of companies (RoCs) under MCA have de-registered around 100,000 companies, Sebi has designated 1,088 entities in the defunct exchanges as 'vanishing companies' and referred these to the ministry for further processing.
The latter term is of 1990s vintage. Many that had made Initial Public Offers of equity (IPOs) vanished after raising money. After a public interest suit by Midas Touch Investors Association
