Business Other News 01 May 2018 Blow whistle on susp ...

Blow whistle on suspicion: Centre

PTI | DECCAN CHRONICLE
Published May 1, 2018, 12:40 am IST
Updated May 1, 2018, 12:40 am IST
P.P. Chaudhary
 P.P. Chaudhary

New Delhi: The government plans to encourage whistle-blowers to inform it about suspicious activities at corporates and is working to link Aadhaar details of stakeholders with filings made under the companies law, Union minister P.P. Chaudhary has said.

Embarking on multi-pronged efforts to clamp down on illicit fund flows, the corporate affairs ministry has already struck off the names of 2.26 lakh companies from the official records for not carrying out business activities for long besides ordering probes into the affairs of many such entities.

“We would also encourage the whistle-blowers to come forward to inform the government, concerned authorities about any suspected activities, if they come to know about any such wrong things,” Mr Chaudhary told PTI.

The MoS said linking of Aadhaar details with company filings would help ascertain the authenticity of the individuals concerned.

The ministry aims to tackle the issue of bogus identities in filings of the companies at the MCA 21 portal and the step to link Aadhaar details is proposed to be taken to deal with the “menace of shell companies, suspected to be used for laundering illicit funds”, he said.

Filings under the Companies Act are submitted to the ministry through MCA 21 portal. According to Mr Chaudhary, the ministry has already asked individual stakeholders to obtain Aadhaar at the earliest for “integrating their details with MCA 21”.

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