Hyderabad: The site inspection drive taken by the Registrar of Companies (RoC) has uncovered thousands of companies in TS and AP that do not comply with the Companies Act.
“In reality, there’s no definition of a shell company in the Companies Act. We come to know about various facts during site inspections and we submit the details to the finance ministry. Our information enables the policy-makers to frame the definition of a shell company,” said Ramesh Chandra Mishra, RoC, Hyderabad.
Based on the parameter of several companies with same address, RoC officials will take up site inspection. RoC officials have listed 515 companies at six locations which had 25 companies with the same address.
During the latest inspection drive that took place on three days last week, RoC seized documents and reports from over 180 companies in Jubilee Hills, Banjara Hills, Domalguda and Ashoknagar in the city.
“We are busy with month-end works to complete the regular activity of RoC. We will take up the inspection drive again in a few days at other locations. Then we will submit a detailed report on our inspections to the Union finance ministry. This is a continuous pro-active action. RoC will again take up such drive within three months,” Mr Mishra said.
The GST Hyderabad commissionerate has prepared a list of assessees, who didn’t respond to its notices. “The number is running over 30,000 in Telangana state alone. We have just concluded the refunds fortnight drive for exporters. We will also compile I-T returns our assessees. GST inspections will take place very soon,” said a senior official at GST Bhavan....