The fight against black money and shell companies has taken a fresh twist with the Centre confirming that post-demonetisation some 2,09,032 companies are under scrutiny for their transactions.
Thirteen banks have submitted data pertaining to about 5,800 companies out of over two lakh firms that were struck off.
In all, 13,140 accounts are under scrutiny in the first phase. Some of the companies have been found to have more than 100 accounts. One company has 2134 accounts in its name.
Data related to pre-demonetisation account balances and transactions is even more startling. It has been revealed that after separating loan accounts, these companies were having a balance of Rs 22.05 crore as on November 8, 2016.
But from November 9, 2016, that is after the announcement of demonetisation, and till the date of them being struck off, these companies together deposited a huge sum of Rs 4,573.87 crores.
With loan accounts, there was a negative opening balance of Rs. 80.79 crores.
Disturbing factors of companies with multiple accounts and with a miniscule or negative balance as on November 8, 2016, have also been identified.
This exercise of swindling the authorities was carried out post-demonetisation till these companies were struck off. In some cases, certain companies were more adventurous and made deposits and withdrawals even after being struck off.
For example, in one bank, 429 companies had zero balance as on November 8, 2016, and there after withdrew over Rs. 11 crores and had a cumulative balance of Rs. 42,000 when their accounts were frozen.
In the case of another bank, more than 3000 such companies were seen to have multiple accounts, have been located. From having a cumulative balance of about Rs. 13 crore as on 8th November, 2016, these companies have deposited and withdrawn about Rs 3800 crore, leaving a negative cumulative balance of almost Rs 200 crore at the time of freezing of their accounts.
“This data is only about 2.5% of the total number of suspected companies that have been struck off by the Government. The huge money game played by these companies may well be the tip of an iceberg of corruption, black money and black deeds of these and many more of their brethren.” the press release said, adding that the investigative agencies have been asked to complete necessary investigation in a time bound manner.
Investigative agencies have been ordered to complete the probe in a time bound manner.
