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Vanishing Companies

Posted Date : 26-Aug-2011 , 07:51:42 am | Posted By CASANSAAR print Print

The Minister of State in the Ministry of Corporate Affairs Shri R.P.N. Singh today informed the Lok Sabhathat  238 Companies have been identified as vanishing companies.

                Companies which had raised funds through Initial Public Offer were    identified as Vanishing Company for

(i)     non maintaining of their registered office;

(ii)    non- traceability of directors(iii)  non- filing of statutory returns/ listing requirements with the concerned Registrar of Companies / Stock Exchange for a period of 2 years. Out of 238 companies identified as vanishing companies, 119 companies have now become regular in filing their returns with the concerned Registrar of Companies. In addition, 32 companies have gone into liquidation. Thus, as on date, there are 87 companies which still remain identified as vanishing companies. The State-wise list of 87 vanishing companies is enclosed as Annexure I. 86 Prosecutions under Section 63/ 68 and 628 of the Companies Act, 1956 for mis-statement in the prospectus, fraudulently inducing persons to invest money and for false statement etc were filed against the company and its directors. Besides, 82 FIRs were also lodged with the Police to trace out the whereabouts of the companies and their directors.

 

                The Minister was replying to a written question on   the total number of companies which were identified as vanishing companies; identified the reasons for working of vanishing   companies;  the number of vanished companies which were found working in the country at  present, State-wise; and the action taken against the promoters/ directors in these companies?

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            ST/-

 

 

 

 

 

 

 

Annexure-I

List of  Vanishing Companies (State-wise)

 

S. No.

Name of the Vanishing Company

State

1.        

Aashi Industries Ltd (Formerly known as Aashi PharmachemLtd)

Gujarat

2.        

Bhavna Steel Cast Ltd.

Gujarat

3.        

Citizen Yarns Ltd.

Gujarat

4.        

Cromakem Ltd

Gujarat

5.        

Frontline Financial Services Ltd.

Gujarat

6.        

Genuine Commodities Development Co. Ltd.

Gujarat

7.        

Girish Hotels Resorts and Health Farms Ltd.

Gujarat

8.        

Growth AgroIndustries Ltd.

Gujarat

9.        

Kesar Greenfield International Ltd                                                                    

Gujarat

10.     

Lyons Industrial Estate Enterprises Ltd (formerly known as Lyons Range Finance Ltd.)

Gujarat

11.     

Manav Pharma Ltd.

Gujarat

12.     

Marine Cargo Company Ltd.

Gujarat

13.     

Naisargik Agritech (India) Ltd.

Gujarat

14.     

Naturo Pest Ltd.

Gujarat

15.     

Nishu Fincap Ltd. (Formerly known as Medha Finance & Securities Ltd.)

Gujarat

16.     

Pur Opale Creations Ltd (formerly known as NulineGlassware (India) Ltd.)

Gujarat

17.     

Protech Circuit Breakers Ltd.

Gujarat

18.     

Protech Switchgears Ltd.

Gujarat

19.     

Shree Yaax Pharma & Cosmetics Ltd.

Gujarat

20.     

Shreeji Dyechem Ltd.

Gujarat

21.     

Shri Mahalaxmi Agricultural Developments Co. Ltd.

Gujarat

22.     

Spil Finance Ltd.

Gujarat

23.     

Super Domestic Machines Ltd.

Gujarat

24.     

Sushil Packagings (India) Ltd.

Gujarat

25.     

Tirth Plastics Ltd.

Gujarat

26.     

Topline Shoes Ltd

Gujarat

27.     

Aditya Alkaloids Ltd.

Andhra Pradesh

28.     

Canara Credit Ltd.

Andhra Pradesh

29.     

Daisy Systems Limited

Andhra Pradesh

30.     

Imap Technologies Limited

Andhra Pradesh

31.     

Kamakshi Housing Finance Ltd. (Presently known as KishaImpex Ltd.

Andhra Pradesh

32.     

Deccan Petroleum Ltd.

Andhra Pradesh

33.     

Orpine Systems Limited

Andhra Pradesh

34.     

Chhakri Tyres & Tubes Ltd. or Rhino Tyres Ltd. (Presently known as Raam Tyres Ltd.)

Andhra Pradesh

35.     

Sequel Soft India Limited

Andhra Pradesh

36.     

Sibar Media & Entertainment  Limited

Andhra Pradesh

37.     

Sibar software services India) Ltd

Andhra Pradesh

38.     

Swal Computers Ltd

Andhra Pradesh

39.     

Visie Cyber Tech Ltd.

Andhra Pradesh

40.     

Ambuja Zinc Ltd.

Bihar

41.     

Bodh Gaya Ceramics Ltd.

Bihar

42.     

Cilson Organics Ltd.

Bihar

43.     

Shree Vaishnavi Printing and Dyeing Ltd.

Bihar

44.     

Carewell Hygiene Products Ltd

Chandigarh

45.     

Sukhchain Cements Ltd. (formerly known as GanapatiCements Pvt. Ltd.)

Chandigarh

46.     

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